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BitConnect Review UPDATE: BitConnect is confirmed as a ponzi scheme / scam. They have officially shut down their lending program and the price of BitConnect recently dropped from around $400 to as low as $19.
The price has since risen as a few die hard BitConnect fans have bought up more BCC coins in the hope that the price bounces back, or perhaps they are simply gambling on BitConnect X which is a new ICO for an exchange that BitConnect is launching.
Either way, anyone who is still in BitConnect and has money in their lending program risks losing it all.
This is something that was probably coming for a while now as more and more people started to speak out about BitConnect being a ponzi scheme including well known figures in the cryptocurrency space like Vitalik Buterin the founder of Ethereum, the worlds 2nd biggest cryptocurrency coin by market cap.
BitConnect was promoted by a number of well known YouTubers who are now backtracking and some are even claiming that they are victims too.
Let me tell you something… every top affiliate of BitConnect knew that the company was most likely a ponzi scheme. They were simply blinded by the fact that easy money could be made by referring other people into their lending program. I have seen many respectable people get involved in BitConnect and I am 100% sure that they are not so stupid that they actually believed the “trading robot” was making all these gains.
Let’s face it, 1% gains a day are never going to be sustainable in the long term. It was only a matter of time until BitConnect shut down.