BitConnect Coin is an open source, peer-to-peer, community driven decentralized cryptocurrency.
This means, it’s not issued or controlled by any central authority, neither is it backed by physical goods, such as gold.
Open source software means that the original source code is made freely available and may be redistributed and modified. Peer-to-peer means that each party has the same capabilities and either party can initiate a communication session allowing shared access to files and peripherals without the need for a central server.
BitConnect allow people to store and invest their wealth and earn a fairly large interest on investment. This means anyone holding BitConnect Coin in their wallet will receive interest on their balance in return for helping maintain security of the network.
It is a self regulated financial system.
2: What BitConnect is all about:
BitcConnect was Launched in January 2017 at a price of $ 0.15 for 1 BCC.
Its current price as of 11th June 2017 is $53.77 with a market capitalization of $359,820,742.
It has similar characteristics as of Bitcoin, such as, blockchain technology security, decentralized currency, fast transactions and created to take value with a coin creation limit set at 28 million units.
BitConnect Coins future value is a result of coin supply mining and minting algorithm,
BitConnect community network, and its features.
The system is created in a way to self regulate BitConnect ecosystem which creates wealth in the entire BitConnect community in near future.
BitConnect coin uses a special algorithm based upon both Proof of Work and Proof of Stake to ensure the BitConnect Coin network is secure.
Once you acquire BitConnect Coin, it becomes an interest earning asset with 120% return per year through PoS minting. All that is needed to earn with this method is to hold coins in your BitConnect-QT wallet.
In addition to PoS minting, BitConnect coin can be mined with CPU/GPU and does not need an ASIC miner unlike Bitcoin.
Due to the innovations in Bitconnect, the fastgrowing community of BitConnect coin users and the limited supply of BCC leads to a continuing increase in BitConnect coin value.
Even distribution of its decentralized value causes a stronger BitConnect network, in terms of network security and the future value of BitConnect Coin.
Four different investment plans exist:
- Invest $100 to $1000 for a period of 299 days and you cannot withdraw the capital but you can withdraw your profit earning everyday and earn upto 400% per year.
- Secondly, invest between $1010 to $5000 to earn daily profit as per bitcoin volatility software +0.10 % fixed daily. You can withdraw your capital anytime after 239 days term and gain profit lifetime if you keep your investment with BitConnect ROI up to 436% (yearly).
- Invest $5010 to $10,000 where you earn daily profit as per bitcoin volatility software + 0.20 % fixed daily and you can withdraw capital anytime after 179 days term You will gain profit lifetime If you keep your investment with BitConnect ROI up to 472% (yearly) .
- The last type of Invest $10,010 to $100,000 and the daily profit as per bitcoin volatility software + 0.25 % fixed daily and capital. You can with withdraw anytime after a 120 day term. You will gain profit lifetime if you keep your investment with BitConnect ROI up to 490% (yearly).
The other way of earning is the BitConnect referral Program which is the infinity Level. The first level is 5% for the referral bonus for the purchase and repurchase then the second level is 2%. The third and fourth level is 1% and it goes to infinity. You will receive referral bonus every time your referral make s an investment or reinvestment.
3: Advantages & Disadvantages:
Advantages:
Highly valuable: Once you acquire BitConnect Coin, it becomes an interest earning asset with about 120% return per year.
Enjoy a secure investment by taking control of your finances with a safe and easy way to ensure success. BitConnect is kept decentralized, hence your investment is secure.
Boost your finances with the BitConnect Coin investment tool with the maximum coin limitation of 28 million.
Empower yourself knowledge-wise within open source platform connecting you socially and financially to a secure protected community of investors and lenders.
Disadvatages:
You need to first acquire bitcoins which will then be used to buy the bitconnect coins.
Guarantee of profits is not assured
Loss of opportunity cost
4: Its uses:
The mission for BitConnect is to provide crypto-education and multiple investment opportunities to empower people financially. It has the following features:
a) Valuable: Upon acquiring BitConnect Coin, it becomes an interest earning asset.
b) Blockchain security: The BitConnect Coin network is secured and protected against attacks.
c) Fast transactions: You can send and receive payments anywhere in the world quickly.
d) Decentralized: Decentralized blockchain transaction technology is in use, eliminating centralized third parties e.g. banks. Transactions are performed directly between the users.
As a result, the following BitConnect investment opportunities and uses exist:
- You can invest in Coin Supply channel to mint new BitConnect coins. The earnings vary based upon BCC mining difficulties.
- You can invest in Coin demand channel by BCC lending or BCC staking. The earnings may vary but have steady return with capital security.
- You can invest in Coin distribution channel by trading BCC on exchange platform. The earnings are high with associated risk.
5: How to buy BitConnect:
BitConnect coin can be bought and sold both online and offline. However, the most popular way is to exchange them on crypto currency sites where you can buy, sell or exchange BitConnect coin for another digital currency or fiat money.
It is as simple as outlined below:
- Register an account on https://bitconnect.co/?ref=rog100x
- Go to the BCC Exchange page.
- Deposit Bitcoins to bitcoin wallet by clicking Deposit bitcoin button. It takes about half an hour or so to confirm your deposit, after making payment to Deposit bitcoin address.
- Once you have confirmed bitcoin wallet balance, you can buy BitConnect coin with your desired buying rate from BCC Exchange.
Your bitcoins is held in an escrow account until successful trade execution if your bid price is lower than seller ask price.
