BitConnect X Review
What on earth is BitConnect X all about?
I just heard about this after landing on a YouTube video about it and I’ve decided to do some investigating to figure out what BitConnect X is and whether it’s legitimate.
BitConnect X
My initial thoughts were that someone has basically cloned BitConnect however upon closer inspection I can see that BitConnect X is actually a legitimate ICO from the people behind BitConnect.
I did a review of BitConnect here and explained how the business works, so I won’t go massively into the details but I will share a few pointers to give you an understanding.
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https://bitconnect.co/?ref=teamrise
How The Original BitConnect Works
BitConnect run what’s called a lending program.
You sign up, invest money into the BitConnect coin (using Bitcoin) and then you can actually lend that money back to BitConnect. You earn a daily percentage of income on the money that you lend back to BitConnect.
You can also earn referral commissions to by sharing BitConnect with your friends and family and signing people up. Similar copycat opportunities have launched like USI Tech but non of these copycats have come close to the size and success of BitConnect.
Since BitConnect launched it has attracted a lot of attention and it’s actually grown to become one of the top cryptocurrencies in the world currently sitting at number 20 on the list of top coins with a market cap of $2.4 billion! It continues to defy the skeptics who state that it’s just a pyramid scheme or ponzi scam.
Where Does BitConnect X Fit In?
Since BitConnect is clearly doing extremely well and people are making a lot of money where exactly does BitConnect X fit into all of this, and why are they launching this new cryptocurrency coin to go alongside their original coin?
Their official website doesn’t really state a reason for launching this new coin. BitConnect X ICO happens on the 10th of January and on there website they state they are releasing more details about it soon.
Is BitConnect X A Scam?
Skeptics on YouTube have stated that BitConnect X may be launching to save BitConnect from collapse.
Since it’s launch many people have stated that BitConnect is nothing more than a ponzi scheme. I will be honest in my initial review of BitConnect I did state that I believed it was most likely a huge ponzi scheme however it seems to have stood the test of time and I actually joined myself, lent some money and have made money back.
I can’t really say that it’s a scam since I have made money.
That being said, ponzi schemes often do pay out in the beginning. It’s only later down the line when they start to struggle that the whole thing collapses. This is why skeptics believe that BitConnect X is launching because it will help BitConnect stay alive by bringing their company potentially millions of investment.
ICO’s (initial coin offerings) have raised billions in 2017 and that trend is only set to continue into 2018. Some of the biggest ICO’s of last year actually raised 9 figures.
Do I Think BitConnect X Is A Scam?
Whilst many skeptics out there are saying it’s a scam I am yet to form a complete opinion.
I do believe that BitConnect “could” be a ponzi scheme, however on the flip side they have stood the test of time so far and I believe that they will stick around for the time being. BitConnect X could be just a way to raise more funds, or there could genuinely be a positive reason behind the launch that will benefit BitConnect users.