Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. It is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum plus previously-accumulated interest.
Simple right 🤷🏾♂️
Compound interest isn't really that applicable to crypto. The fixed money supply is versus increased supply for fiat. Not just that but the network effects and adoption of BTC/crypto will lead to the price going up even more as it becomes ubiquitous.
Hey @thecynic Bitconnect has a coin and a service. They have a lending service in which they use trading bots trade the volatility on BTC. you get daily interest kickbacks in the form of USD which you then can reinvest if you like. So in that capacity you definitely have the compounding interest in crypto.
im invested on bitconnect as well
Cool. I think it's a great platform, and they're still adding to it.
how much are you sure aboout this bitconnect? follow me... i love your channel on youtube too..
Im sure enough to invest some cash. lol. Doesnt mean that it's risk free...it is an investment at the end of the day and all investments comes with a level of risk. With that said, I dont think the level of risk is as high as what many others think it is.
I dunno, smells a bit like a ponzi, I hope it isn't though and I love the bitconnect platform as well as bitshares think its a friggin great model for a crypto/business.
I feel you. The smell of Pryamid/Ponzi will subside the longer Bitconnect stays around. It's associated with those schemes primarily because of its referral system and the fact that its a new platform.
I have found a way to earn compound interest using crypto: check my post here: https://steemit.com/bitcoin/@oakheartgames/compounding-bitcoin-interest-for-people-not-banks