BitConnect is currently one of the most popular investment platforms and that is certainly not for nothing. In our review, we show whether BitConnect is trustworthy, background information about this company and useful investment tips. BitConnect is a trading platform where you can trade with the same-name coin: BitConnect coin. You can earn BitConnect in several ways: staking, investing (lending), trading and mining. It is up to the user which method(s) he or she wants to use and which ones fits the best. BitConnect started with an ICO in November 2016 and brought the BitConnect-Coin (BCC) to the market. Two months later the BCC desktop and web wallet, as well as a BCC exchange (change from bitcoin to BitConnect Coin) was introduced.
Join our BitConnect team for free with Sponsor Code: Gratis10
What is BitConnect?
Bitconnect is a platform for lending your BitConnect coins and getting daily interest on it. You can buy BitConnect coins with Bitcoin. BitConnect has a special Trading Bot that daily trades on the current market. The profits generated by this bot are distributed daily by all the users who have lent their BitConnect coins. The trading bot can make profits but also loses. If the trading bot made losses, there’ll be no interest given. The interest can never be negative, so you’ll never lose your money! You can view the interest of the past 5 days and the interest of tomorrow.
As you can see in the picture, the interest differs by day. Over the past five days we have received an average interest rate of 1.05%. Compare that with the current interest rate you get at your national bank. This are interest rates that you normally get in a year at the bank. The interest rate of tomorrow (2017-09-24) is 0.00%, which means that the trading bot has had losses, but the losses aren’t passed on to the users of BitConnect and therefore we get an interest of 0.00%. In the historical data of the given interest rates from March 2016 you see that the average interest rate is around 1%. The highest interest rate is 5.52%, which are good earnings.
Our expierence earning money with lending at BitConnect
We started our BitConnect adventure on August 5th, 2017 and started with a starting capital of 0.1 BTC. The minimum start capital to participate in BitConnect’s program is $ 100. At that time 0.1 BTC was equal to about 320 dollars and that’s the amount we started with. After sending 0.1 BTC to the built-in Receive Bitcoin wallet address, we were able to exchange the BTC for BitConnect coins (BCC). The Lend BitConnect button allows you to invest your Bitconnect coins into the program. It’s important that you can devide the investment amount by 10, otherwise the program won’t accept your investment.
You’ll also see that your capital is held for 299 days or less. This means that you will get the invested capital for 100% back after the promised days. You can withdraw the interest you receive daily at any time and exchange it to Bitcoins. It ‘s not possible to withdraw your initial investment earlier. You’ll get a daily bonus if your initial investment is $1010 or higher and the higher your investment, the sooner you get it back. Once you have successfully invested an amount of your choice, you start immediately earning money. You receive your earnings daily in your account and you can choose to reinvest earnings or to withdraw it.
Reinvesting your earnings and earn thousands of dollars with the compounding calculator
You can choose to withdraw your earnings or to reinvest your profits in the program. If you withdraw your profits, you earn about the same amount every day and if you’re ok with that then that’s the best option for you. But if you reinvest your profits into the program, your overall investment will grow and earn you more and more daily. With our special compound interest spreadsheet, you can calculate how much you will earn. If you maintain this for a couple of years the amount can increase to hundreds of thousands of dollars. We will show you how, first you need to download our special BitConnect Spreadsheet Compound Interest Calculator.
The excel document begins with an investment of $ 500 and has an average interest rate of 0.90%. For our own experience, we change this amount to $ 320 because this was our investment. Your starting capital must be at least $ 100. In the column Daily Reinvest you can see when you get an amount that can be devided by 10, so you can reinvest it. We have made an overview of the estimated reinvestment periods and the actual reinvestments. You can clearly see that in many cases we could reinvest a lot faster, which meant that we had a much higher interest rate of 0.90% during that period.
The green shaded rows are the moments when we have calculated to be able to reinvest and the yellow shaded fields are the actual moments when we have reinvested. If we’ve reinvested more than $ 10 then the left-over balance will be transferred to your wallet. You see that the total investment is getting bigger and you’re going to earn more and more. Now let’s take a look what happens after one year and after two years.
You see that your total investment after 1 year is about $ 7680 and you make reinvestments of over $ 1,000 dollars (giving you a daily bonus interest). After two years, you’ll really see the power of compound interest and see amounts what we can only dream of. It’s a matter of persistent and instead of withdrawing money you have to reinvest it in the program. You can download the special calculator for free from our website and you can give it to anyone you want.
Is BitConnect legit or a scam?
The opinions about BitConnect are widely distributed over the Internet. The one finds it a great program and sees the potential. The other is scared and says that you must stay away from Bitconnect. We have invested ourselves in this program and believe that BitConnect is legit. You need to make sure for yourself if you think this program is reliable and whether you want to invest in it. One thing is certain and that’s that you’ll not earn money very quickly. It’s a long-term investment and you need patience and discipline. Especially if you are going to use the compound interest method. Since the beginning of 2016, BitConnect has made many developments to the program, and it is expected that the program will be expanded in the coming period.
BitConnect is a great program to earn money. You can decide which method suits you the best: Lending, Staking, Trading and/or Mining. The most popular method is Lending which gives you daily interest on your lent BitConnect coins. You'll get your interest paid daily in your wallet and can withdraw or reinvest it. Interest rates vary a day and depend on the Bitconnect trading bot. The customer service is very friendly, helpful and responding quickly to questions and problems.
- Earn a passive income
- Get paid daily
- Trading Bot trades for you
- Reinvest and grow your total investment
- Use our Compound Interest method