Hello everyone,
In this post I'm going to talk about the Bitconnect Platform, why it has a bad reputation and what it's actually doing.
So let's start right from the beginning, I bought Bitcoins!
Yes, after following cryptocurrencies for about 3 years, the moment was finally there to buy my way in. All this time I saw how the value of these "currencies" rose and rose and how people were actually making money with them. Now needless to say the scepticism was there ofcourse but it didn't stop me from finally taking that leap into the unknown.
100 USD worth of bitcoins, my first purchase. Now what?
How does one get from hundred dollars to.. a thousand? ten thousand?
After keeping my coins in my wallet for days and days on end without doing anything with them, I saw that the worth had already increased. After about a week or three my bitcoins were suddenly worth 106$.
It dawned on me that the market value fluctuations were so rapidly occuring that there were other ways to increase their value as well. A list of how I approached things:
Buy & Hold;
When a certain cryptocurrency is on the rise, buying the currency to simply sell it at a later date to cash in some profits.
It's simple but of course holds some minor risk as it can also drop in a blink of an eye.Market Exchange;
When you understand the volatility of these coins enough to work around the market, your profits can easily skyrocket!
It's the hardest approach to making profits on the crypto market, buying low & selling high. Unlike stock exchanges or Forex trades, these currency can drop any amount of percentages in a matter of hours even minutes.Investing in platforms;
This one holds the most risk, because you're practically giving your money away, trusting the other party to fulfil their promise of paying out intrests on your investment amount.
Though "risky" this can actually be "safe" as well. I will explain this further in a few lines, because obviously this is confusing right? The thing is, the risk is not in the way of investing, but more in the company that mostly doesn't even actually exist. While they operate only through the internet and there is no government or law that can protect your cryptocurrencies there is no failsafe here.
Now, the part where I confused you.
When you find a legitimate business to invest in, chances are they will turn the cryptocurrency you gave them into USD or EUR or whatever currency they work around. From there on your investment is fixed! thus keeping you "safe" from the volatile nature of the cryptocurrencies. While this is good, it can also make you lose more than what you are getting as intrest. Let me write it out in a few lines to make it clear, example used here will be Bitcoin to USD.
- Buy 1 Bitcoin @ 1000 USD / BTC
- Invest 1 Bitcoin into a platform that converts it into USD of it's current value.
Let's say BTC has traded up 1% since you bought it, your investment will now be 1010 USD. - Your investment is now fixed for X-amount of days, let's say 100 days, with a fixed or even fluctuating intrest %.
- After your 100 days you get your money back (principal + intrest or maybe just intrest in some cases of surpassing).
- You now have for example 1010 principal with 10% intrest over those 100 days. Your new capital is now 1111 USD.
- While your money was fixed for 100 days, Bitcoin could have dropped below it's price where you invested it.
Giving you more profits than when you would have kept it. - While your money was fixed for 100 days, Bitcoin could have DOUBLED in value... Leaving you with "losses" in the end.
Now in the above case, you took a safe way to make money. While running the risk of your investment not making a lot of money, you also negated the chance of your crypto losing it's value and thus creating losses. If the crypto rises beyond your buying price, you traded in a potentially bigger profit for security.
I hope you can follow this somehow :-)
This brings me to the actual point of this post! A lot of you people might already have heard of the platform called "Bitconnect". A lot of you might not trust it or have mixed feelings. I was like that too!
But then one day I was browsing through youtube and google in search of actual proof of this website being a scam..
I didn't find ANY evidence. I did however find a lot of people saying it was a scam, and why they THOUGHT they were right about it. But those were all just speculations and theories.. no evidence provided.
While at the same time, the pro-side of this platform was actually proving to get profits from this platform.
So i put all my Bitcoins into Bitconnect.. as the entry is a minimum of 100$ I wouldn't have that much left anyway.
The next day I got 0.63% intrest. Less than 1%? yes but DAILY!? No bank in the world can promise you this..
A few days in my intrests are at 10$ which is the minimum amount to reinvest, so I did!
As I kept reinvesting my current investment balance after a few months is 873.44$ Not bad right? :-)
Now curious as I was, started saving up some intrest to withdraw. After all that's what we want right?
After reaching the minimum amount of 0.005 BTC (at that point somewhere around 30$) I succesfully got my Bitcoins out of the platform into my Exodus wallet.. SUCCESS!!
From here on further I stopped looking for ways to make profits through investing. Because most of the investment websites really are scams and really do just steal peoples' money. This one doesn't and pays out good money as well.
After testing it, I decided to start sharing my experience with the community.
I hope this post might make you curious to try it out yourself. As a passive income even though small, can be really helpfull in our current world's hard economy.
For people intrested this is the URL to my referral page on Bitconnect: Register here
This link let's you register directly under me, which gives me 5% of your initial investment as a bonus. To those who take this step and desire the 5% commission as an extra, I'm willing to give it back to you. Just send me a message with the username you signed up with and the amount you invested and your Bitconnect wallet address.
For the people who are completely new to this, you can read up here on how the platform works: Explanation
This post is the start of my reaching out to the community. I will link all my social media pages below, while they might be empty now, they won't be for long! Giving you all some great tips and tricks to get around the world of cryptocurrencies!
Hope to see you all there.
Yours dearly,
TheMister BTC
Facebook: TheMister BTC
Twitter: @themisterbtc
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Free bitcoins here (no joke): TheMister BTC
Bitconnect: Register here