BitConnect - What's the catch, and does Control Finance have the answer?

thodges (27)in #cryptocurrency • 7 years ago

What's the catch with BitConnect?

Most of us have heard of BitConnect, and quickly dismissed it as a scam. From the outside, claims of over 1% daily intrest rates seem too good to be true. After using BitConnect for a while and seeing the daily payouts, I started to really believe, but I wanted to dive deeper.

I have watched many (hundreds?) videos and read reviews on the platform. The ones sticking with the program and doing well, and the skeptics call it a scam. From my personal use, it is definitely not a scam, as I have transferred money out of the system multiple times, but I wanted to find out the weak link in the system, and I think that's the coin itself.

The BitConnect Coin

The value of the BitConnect coin has grown from $0.16 USD at the beginning of the year to over $100 currently. This phenominal grows shows us that the entire platform has great potential. Dips don't seem to last but for a few days and the coin's value quickly grows to more than it was before the dip.

The BitConnect Catch

To put it simply, as long as the BitConnect coin has value, any value, and people willing to pay for it, the BitConnect platform will remain profitable. Within the BitConnect Exchange, BitConnect Coin (BCC) is sold for Bitcoin (BTC) directly, and once you hold the Bitcoin itself, you can transfer it to your own wallet.

That said, I still think there is plenty of money to be made with BitConnect. I would still highly advise taking advantage of this site and start building that capital. At the same time, I would also say to pay yourself every once in a while instead of reinvest. Doing this will:

Get you used to the exchange interface
Help you realize that your capital is actually gaining direct value for you
Give you funds for other investment vehicles

Enter Control Finance

Control Finance is another trading-bot-lending-platform similar to BitConnect, but without the added platform-specific coin to go along with it. Your payouts are directly in Bitcoin, and available for withdrawal right away every day. Control Finance has stable payments since the interest rate is set based on your total deposit amount, which means no more saving up your lending wallet for the upper-tier loans.

The trade-off with Control Finance though is you do not receive your capital back. Instead, the loan duration remains forever, earning interest every single day. You can choose to auto-reinvest (saves a couple clicks a day) or to manually withdraw your daily earnings DIRECTLY to your Bitcoin wallet.

Take Advantage of Multiple Investment Vehicles

It's important to spread your investments so that if any were to fail, your overall earnings would not take as large of a hit. I would suggest starting a deposit with Control Finance and take the daily earnings each day until you get your ROI back. At that point, I would set the auto-reinvest on until the capital has grown such that I would want to turn it off and keep it every day.