BitConnect has shut down its services in January 2018. This is due to issuing the cease-and-desist orders from Texas and North Carolina securities regulators. They claimed that the company engaged in unregistered securities sale through its ICO.
This resulted in BitConnect’s BCC token plunging to 90% falling from $400 to less than $20 in the first weeks of 2018. Also, the currency no longer exists on the data site CoinMarketCap.
What is Bitconnect?
Bitconnect is a peer to peer Bitcoin community where every member can have direct interaction with each other. It enables user buy, sell or lend operations via their personal Bitcoin accounts.
Company Information:
Though there is no information on who owns, where the company is based at and who operates the business but the domain was registered on 9th February 2016 privately as “bitconnect.co”.
What are the products / Services of Bitconnect?
Pretty clear, there is no specific product or service of Bitconnect to offer its affiliates and customers. Rather it works on Networking system, Multi-level Marketing, and membership.
Bitconnect Overviews
Bitconnect website gives user detail information about Bitcoin, Bitcoin news, Bitconnect news, tutorials in the form of articles. Although, these articles assist audience understand how the system will work and how to earn money with Bitconnect. Though website structure and content provided is quite complex for new investors and members due to matrix presented on a website. Further, they will be familiar after a while.
Bitconnect Investment solution for Bitcoin price fluctuations
Earning Interest against Bitcoin price fluctuations
Bitconnect brings some remarkable solutions to the risk of holding Bitcoins. Due to Bitcoin price volatility, you can never predict whether its price goes up by 10% or down by 20%. In order to regulate this situation to some extent, Bitconnect lending module could prove worth investing time. The module maintains asset value of Bitcoin investors and lets you earn substantial ROI.
Calculate Earning on Bitcoin Lending:
Furthermore, on the basis of your Bitcoin investment, Bitconnect volatility software calculates earning daily. And Bitconnect trading bot will generate the income based on Bitconnect volatility software.
For instance, lending 1000$ today will allow you earn interest on that day which will appear in your account after 24 hours. For example, if the interest is 0.45% then you can see $1000+$4.5 interest next day in your account. The interest will continue to accrue daily on the basis of volatility software.
Bitconnect Bitcoin Direct trading – Buy & Sell with each other members
Members can trade with each other, they can buy and sell Bitcoins directly. Furthermore, Bitconnect escrow service will be available in the event of a dispute and act as arbitrator and determine ultimate solution possible.
- Trusted community members are available to trade with
- Quick and efficient Bitcoin trading with Fiat currency
- Backed by escrow service team
- Have an association with local Bitcoin community
- Preferred exchange rate and payment option is available to trade
- Additional revenue for in-demand payment options
Bitconnect Bonus Program – Get new members to community and earn Bitcoins
However, Bitconnect provides a great potential of earning additional money by referring other members to the community. You can earn money every time your referrals lend Bitcoin. This happens when a user signup to the community and lend Bitcoin using your affiliate link.
The lending program is combined with 7 level based on the number of lenders. Every time when your referral lends money, commission will be applied and is based upon the tier you have achieved.
The post appeared first on Coinpedia
