Hello everyone!
As a still unkown youtuber and a (almost all in) cryptocurrency investor i decided today to start the 1 year BitConnect lending challenge.
The challenge is to lend an x amount of BCC for 365 days and reïnvest every bit of pay out i get in that period. I will make a weekly video about this exact challenge for the same period to share my experience. Follow me here
For those who want to join the challenge and invest themself: click this link.
In short why is lending in BCC interesting? When you lend between 100 - 1000 dollar for 299 days? Well on average you will earn 0,8% per day over the total amount of money you are lending. Now here comes the interesting part, the interests you earn per day, you can reinvest at any moment and earn interests on your interests or in other words, compound interest.
so instead of triple your money with a 0.8% interests per day, by reinvesting, the value of your portfolio should go up 20 times!
I dont know if my numbers are right but we will see what happens in the next up coming year :P