The BitConnect X ICO is now live and here is what you need to know:
(This information can be found on there webiste.)
BitConnect X looks to be legit and it turns out that it is a cryptocurrency. Many individuals speculated that BitConnect X would be an exchange and it looks like that will be a component of this coin. On their website, it states, "The BitConnect X website will include an exchange of multiple cryptocurrencies and utilize BitConnect X on merchant sites providing instant payments with fast confirmation times, regularly less than 2 minutes."
The value of this crypto seems to lie in the speed of the transaction and the low fees associated with the transactions.
This coin looks like it will compete with litecoin, which is popular for its speed of transactions. Another important detail is that owners of this coin will earn interest for holding the coin. This is new to cryptos as far as I know because coins like steem still don't allow one to earn interest.
BitConnect X has a 49 mil cap on their coin supply. As of now, 14,700,000 are available, 11,716,000 for the ICO, and 2.940,000 for the reserve fund.
The ICO also includes bonuses in the form of rounds. The first round which ends January 24th is a 5% bonus. The second round which ends February 8th, is a 2% bonus. There is no bonus for the 3rd round which ends February 9th.
There is a lot of financial incentive behind this coin. With the popularity of BitConnect, I am sure that BitConnect X will have a successful ICO. The only negative feedback I have seen on this coin is that it is trading at $50 a coin which people think is very high. If you aren't sure about the ICO, I recommend waiting a bit to see the response. The website states, "Within 5 days of a successful ICO, BitConnect will release the BitConnectX coins to the web wallet, and open the market for trading with other cryptocurrencies." This could be indicative of a good time to hop of the BitConnect X train.
Let me know what you think of the ICO below. I do agree that the $50 a coin price is a bit too high but this ICO still looks promosing.