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Investors and numbers go hand in hand. I can say they are in love but I can’t be sure about that. I know numbers don’t lie but what with the obsession? Well, I’m an investor and when I first learnt of BitConnect and their generous ROI, I was surprised and curious just like you. This is definitely a scam I said. Condensing everything and you get a whopping 1% daily rate of return. Eye popping isn’t it?
If you have been tracking Bitcoin, Ethereum and other major alt coins like me then this is nothing. BitConnect launched last year. February 25, 2016 to be precise and as I type this, it has a market cap exceeding $1.5B with each BCC token available at $350 at major exchanges.
During their ICO, each token was available for $0.5 and if you had bought 10,000 of these tasty pies, you would be a millionaire by now. Of course if you HODL you may be worth more than Twitter’s market cap say in 15 years. Depends. Nothing is guaranteed.
BitConnect the BTC lending platform
Enough of the juice, what is BitConnect you may ask. I will answer that like a Wall Street banker.
BitConnect is a UK based Bitcoin lending platform with a current market capitalization of $1.9B at current market prices. It fluctuates. The maximum amount of BitConnect’s tokens to ever circulate is capped at 28M.
It operates as an open source, community driven peer-to-peer Bitcoin lending platform where owners of Bitcoins can voluntarily lend or “loan out” their digital asset(s) and earn interest payments. Once they hand over Bitcoins, the platforms invest and charge interest on potential borrowers without involving the lender.
To operate, BitConnect combine two types of protocols. The Proof of Stake (PoS) where the more you own BCC, the more you get rewarded because when you “hoard” the tokens you are making the platform more trustworthy. That’s what the company appreciates. Then we have the Proof of Work (PoW) protocol meant for BitConnect’s mining wing. Miners are rewarded with BCC coins for validating Scrypt encrypted transactions.
In my honest opinion, I really think BCC tokens are the next Bitcoins and that is why you should buy and hodl some in 2018. Here’s why:
BCC Tokens Are Designed To Be Scarce
For an asset to be valuable then it must be scarce. Gold is scarce and so is BCC. Matter of fact, the maximum supply of BCC to ever circulate is capped at 28M tokens. The decision was not governmental.
Mark Carney or Janet Yellen has nothing to do with this. Heck, they can’t do anything about it. Its pure market forces, the supply-demand dynamics at play.
2.6M BCC tokens will be dished out through Proof of Work while the remainder will be issued through Proof of Stake.
By the way, this is by design to ensure that as the demand for the coin increase, the supply decreases leading to price surges as equilibrium is sought. It’s now at $350 apiece. By end of 2018 it might test $3,000.
You Can Be a Hodler, Trader, Miner or Investor
BitConnect wants the best for their investors. They trusted them and they must repay them generously right? First, forget the nay sayers. Every innovative technology is often a “scam” for those who don’t take their chances. Bitcoin in 2009-Silk Road can give you valuable lessons. It depends on how you look it. This is how you can make money with BitConnect:
You can be a hodler: Buy BCC coins, hold them at BitConnect’s secure wallet and get a 120% ROI after one year.
You can mine BCC: It’s a simple set up which is not capital intensive as no specialized gear is required. Your normal video graphics card can do the trick here and maybe a fan lest things blow up. Get a slice of the 2.6M tokens dished out through the PoW algorithm.
You can trade BCC: Coin is listed in major exchanges like Bitrex or BitFinex. You can benefit from price fluctuations by selling high and buying low. This needs experience though.
You can lend your Bitcoins:
This is what brought BitConnect to limelight. It’s the lending craze that is driving BCC demand. To begin, you must buy some BCC tokens using your BTC. The higher the amount of BTC you lend, the higher the rates of return as determined by the platform’s Bitcoin Volatility program. For example if you lend 0.75BTC you may earn a minimum daily rate of return of 0.25% for 120 straight days.
You Will Earn Money by Marketing Their Lending Services
BitConnect has a vibrant affiliate program where you can earn up to 7% if your referral signs up and lend their Bitcoin.
The higher the amount they are willing to lend or “invest” as they put it, the fatter your bank account.
If you get ten referrals whom you hooked up and each invest $10,000 worth of BTC after every 120 days, you will end up with $28,000 of passive income every year. Now, that generous!
My two cents:
Everybody has choices. Every time BitConnect is slatted, it swims out of the doubt pit sure than Peter. Fact is, BitConnect is here to stay. People need money and they don’t wanna sweat for it. BitConnect presents 4 different ways of earning money passively and 2018 is the year you should own some BCC.
Thanks for reading!
~The information provided on iCoin Blog is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs. iCoin Blog does not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. iCoin Blog also may contain affiliate links and the owner of iCoin Blog may receive a commission.