Bitconnect.co, is it a scam or paying? The following review will serve as a reference to help you make a decision whether to invest or not.
Bitconnect.co Payment Status: PAYING
Not many investment opportunities have the same ideologies upon which Bitconnect.co is built. Not many investment companies have their own kind of virtual currency to make their investment program interesting. The efforts employed by Bitconnect.co to make it look more appealing to investors have made some people think of it as a scam. So long as an investment opportunity defines its mode of operation, abides by it, and pays its loyal members according to existing terms and conditions, that program should not be considered as a scam.
Bitconnect.co provides a digital currency known as Bitconnect Coins (BCC), which is a decentralized cryptocurrency created by the people and for the people. Like all cryptocurrencies, Bitconnect.co is free from government actions and economic impacts on currencies. Owners of Bitconnect Coins can evade taxes that would have been paid if the money was stored up in a bank.
Bitconnect.co produces its coins by mining. It has designed that only 28 million coins will ever exist. At the moment, only 5 million has been offered up to the public so that the other 23 million will be provided by the activities of its supporters. With more BCC to mine by the people, there is a greater opportunity to earn from the company.
As more BCC is mint, the price keeps going up since there will be less in the future. The price only has to increase so as to discourage more demand and so that BCC can still be in circulation. It is just like what we learn in the economics class; the higher the price, the lower the demand.
The current price of 1 BCC is live on the company’s website. Since the price can change with time, it is needful to know that even though 1 BCC presently exchanges for about$90, the price can increase anytime as more people download the wallet.
There are three things that can affect the price of the Bitconnect Coin:
- Coin supply: The more the supply of BCC, the higher the price shoots up. To mine more coins, profit oriented persons (or companies) can dedicate resources to facilitate this and expect a percentage of the profits made.
- Coin demand: Anytime BCC is purchased using another cryptocurrency, the price goes up
- Coin Distribution: Anytime people send BCC on the network, the price also goes up.
Investors can grow their coins in three ways:
- BCC staking
- Trading and
BCC staking simply means holding Bitconnect Coins. You can hold bitconnect coins by downloading the BCC wallet and buying some of them either from someone who already has some to sell or by exchanging with the Bitcoins. The more BCC you hold, the more the interest you can make.
You can trade on your own terms to other users. Sell whenever you want, when you feel you can make some profits.
Lend your coins to Bitconnect.co and earn a daily interest from it. Your money starts counting as soon as you deposit on the lending platform.
BitConnect Coin Lending Profits Interest
(Remember: Volatility software offeres you a variable interest as per bitcoin market fluctuations)
Instant Funding and withdrawal
Your account is funded with an equivalent amount of BCC if you do an exchange with BTC. The same applies during a withdrawal. Bitconnect processes all withdrawal requests instantly and the money will be sent to your preferred wallet, either as BTC or as BCC.
No withdrawal is processed without completing the Login Shield Verification. The verification is done anytime you try to login with an unrecognized device. This step is taken to make sure that hackers are unable to penetrate. A verification link will be sent to your registered email address so you also have to keep the password of your email address intact.
Bitconnect.co will give you back your capital after the period you agreed to lend some money expires. The money lent is used to acquire facilities for mining more Bitconnect coins which people buy at higher prices. The interest made in the process is shared between Bitconnect.co and the lender. Investors can lend USD or Bitconnect Coins.
Another form of investing is by depositing Bitcoin. You will be given a bitcoin address where you can send some Bitcoins.
Earn every 24 hours
For lending at least $100, you will be given profits on a daily basis, even though the exact daily returns are not fixed. The daily earnings depend on what the Bitconnect price volatility software determines. However, you can reinvest each time with $10 or its multiples. That is $20, $30, $40, and so on.
Even though the exact profit you will earn per day isn’t certain, Bitconnect.co is sure to reward its lenders according to the plan below:
- $100-$1000—up to 40% per month. You will get your capital back after 299 days
- $1010-$5000—up to 40% per month plus 0.10% daily. Capital is returned after 239 days
- $5010-$10000—up to 40% per month plus 0.20% daily. Expect capital after 179 days
- $10010-$100000—at least 40% per month plus 0.25% daily. Capital is returned after 120 days.
Low Minimum Withdrawals
You are allowed to withdraw your Bitcoins if you have a minimum balance of 0.005 BTC.
15 Days Cycle for Staking
Your money increases after 15 days if you decide to stake it. You don’t have to leave your computer on to monitor anything. Depending on demand and supply, your staked funds will give you profit every 15 days.
The interest you get is determined by a variable Proof of Stake (PoS). The payout will be as follows:
- January to June 2017: 10% per month
- July to Dec 2017: 8% per month
- January to June 2018: 7% per month
- July to December 2018: 5% per month
- January to June 2019: 3% per month
- July to December 2019: 1.4% per month
You are free to withdraw your profits after 15 days and reinvest the money into something else. You may decide to lend it or even exchange it on Bitconnect.co exchange platform.
Bitconnect.co has 7 levels of referral bonus in the order: 7%-3%-1%-1%-0.5%-0.3%-0.2% from levels 1 to7 respectively. This is a big chance to earn more than what you ever dreamed of. Your referral link is ready at the time of registration. You will find it at the top left-hand side of your dashboard. The bonus applies only when your referral lends money. Commissions are paid instantly to the affiliate’s Bitconnect wallet and can be withdrawn immediately as BCC or BTC.
Bitconnect.co is not a scam because it is paying. It has also confessed not to have a particular rate of return because of the bitcoin market fluctuations. Notwithstanding, it is a very profitable program to join and would most likely last for more than a year. To join, simply register and deposit bitcoins. Use the bitcoins to buy Bitconnect coins and lend, stake, trade or exchange through your account.
Disclaimer: Not all the websites listed in our Top List are 100% safe to invest. We do not promote any of those. Due diligence is your own responsibility. You should never invest into any online program with money you aren’t prepared to lose. Make sure to research about the website.