This is a message I wrote to my cousin who I recently introduced to crypto currency. I thought I would share it in case it could be helpful to other newbies. I am still new but have been involved every day for about 6 months now. Here is what I wrote:
I just want to say be careful with bitconnect and control finance. I am an investor of genesis mining, which is different than these, but the site is down and they have been spiratic with the payments lately. I would hate for something similar to happen with these sites. Don't invest more than you are willing to lose. The safest investment is always bitcoin. It may not make you rich over night, but will likely double in a year. Do lots of research if you are going to invest heavy in anything. Some of these alt coins can make you rich over night, but can also lose lots of money. I just had to write you because I am concerned with genesis mining which I had close to $600 in. If the site is gone then there is nothing I can do. I think bitconnect is legit but again it is kind of a gamble. I know you like to go overboard with new things so just be careful. Cryptos are the future, I still have full faith in that. But diversify in case one dose not work out. Keep learning, I think you will make money. But because of the nature of this game there are people who scam. I lost $300 overnight one time investing in a "pump and dump" coin called chaincoin. I know you worked hard for your money so just be careful. Peace.