Bitconnect.co is creating a confusion amongst people that they are investing in cryptocurrency but, they are not the real side it just the opposite. It is the Ponzi pyramid hybrid a package of illegal and unsustainable schemes. It is the fraud operation to be clear.
Their real business is the combination of Ponzi and Pyramid scheme. They are taking advantage of the people’s confusion between publicly tradable altcoin and bitconnect i scheme.to be precise:
- Affiliates can invest $100 to $1000 and receive up to 40% a month for 299 days.
- Affiliates can invest $1010 to $5000 and receive up to 40% a month for 239 days and also a bonus 23.9% ROI.
- Affiliates can invest $5010 to $10,000 and receive up to 40% a month for 179 days and also a bonus 35.9% ROI
- Affiliates can invest $10,010 to $100,000 and receive up to 40% a month for 120 days and also a bonus 30% ROI.
Is Bitconnect Legit
Any person having knowledge in business can easily find out that bitconnect running a Ponzi scheme. This scheme can claim guaranteed ROI and that is also up to 40% profit a month. This type of business claim already proves that it is fraud. You can think generally. If some company is running a legit business and can guarantee to pay up to 40% a month, then why that company needs to collect the investment from several people and pay them 40% a month instead of just taking loan from a bank in much lower rate, in less than 1% monthly interest rate.
You can take a personal loan even if you ‘re not qualified for the business loan from the bank.so the question is why would anyone pay 40% instead of 1%? So, BitConnect doesn’t pass this logic test and itself prove to be a Ponzi scheme. If you ask is bitconnect legit? The answer is no.
According to the legal authorities, any business model which offers referral commission without selling any real products or services, but just on the ROI plans or on the investments or upgrades, then that company is considered as a Pyramid scheme, not an MLM company and completely illegal. This makes it enough not recommending bitconnect.
You can’t find out any information about who and from where is operating and running BitConnect even if you check online from the main source website. Hiding owner details should not be taken lightly because none of the legit companies hide their owner details, only scam companies do.
People blindly following bitconnect and investing there real money in USD/bitcoin into bitconnect to exchange their Bitconnect coins and waiting for their ROI pay. (This is one of the main reason we do this bitconnect review). However, those coins will be with the bitconnect for 129 to 130 days and affiliates think that they are making profit when the company makes profit But, there is not any verifiable source of income coming into the BitConnect.co than the money invested by the affiliates.
So, how can they sustain by paying that 40% monthly ROI? They simply can’t. However, this kind of company can sustain for little longer time; than other Ponzi schemes due to relatively low ROI payments. But ultimately it will collapse or even it can be seized by concerned legal authorities anytime.
So, before that happens, it is better we stay out of it. That is why we don’t recommend BitConnect.
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