1 Level
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169 Karma
Review on BitConnect by Mr Benji
Read this to avoid another Ponzi
Let's say we are before bitconnect ico
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Why is Bitconnect Scam
?
- Investment SchemeA little bit of common sense and a look at the Bitconnect offer to understand that it is a scam.
- Bitconnect offered an interest rate of up to 40% per month, an average of 27.6%, which is a totally impossible number for any legal and honest business, including investing in cryptocurrencies.
- 40% per month offers only Ponzi schemes (HYIPs), which work to make profits from new deposits until the system collapses from a lack of new deposits, or simply because operators run away with all the money.
- And how did Bitconnect get into the top 10 largest cryptocurrencies? Sophisticated Fint. You cannot do the investment differently than in its own BCC currency. So people driven by the 40% profit per month look to buy BCC to participate.
- Average rate Another joke is that you couldn't buy BCC directly for a fiat currency, you need to buy bitcoin first and exchange it for bitconnect.
- So bitconnect fraudsters earn in two ways and are insured for a while until the bitconnect collapses and the BCC falls to zero because they remain bitcoins that they have chosen from the public. And thanks to them, they will also be more or less unattainable.
- Of course, you won't find any contact information, no operator information, nothing on Bitconnect.
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This indicators tells us that it was a scam!
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Pros
- PONZI SCAM
Cons
- NONE
