Bitconnect, as their website states,
"...is an open source, all-in-one Bitcoin and crypto-community platform designed to provide multiple investment opportunities with crypto currency education where it is entirely possible to find the independence we all desire, in a community of like-minded, freedom-loving individuals who, like you, are seeking the possibility of income stability in a very unstable world."
Fundamentally, Bitconnect is a web-based business that utilizes their own software with Bitcoin and its volatility against currencies and crypto currency exchanges. Their daily profits are divided in half, distributing one half to the community with the other half set aside to prevent losses to their investors. Their system results in a remarkable return on investment of nearly 1% daily, virtually doubling one's investment within four months.
With their site based out of London, Bitconnect has consistently held a position in the top 20 of all capitalized crypto currencies, according to coinmarketcap.com.
Bitconnect utilizes their own coin (BCC) that investors purchase with Bitcoin and subsequently lend for their program to use in its investment activity. The original investment that investors provide is tied up and unavailable to withdraw for between 120 days and 299 days, depending on the lump sum invested. This prevents a disastrous run on Bitconnect should there ever be the irrational desire to panic sell. This also provides mutual support for the community as a whole.
Are there risks to investing in Bitconnect? There are risks to investing in anything...stocks, bonds, foreign currencies, gold, diamonds, real estate, antiques...one can only judge the risk through past investment behavior, as well as educate oneself to the market. Most importantly, never risk investing what you cannot afford to lose, both financially and emotionally. For now, Bitconnect has proven itself in the past year that it has followed through 100% on paying out profits as well as initial capital investment. In our opinion, it is a risk well worth taking.
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