What is BitConnect.co? Is Bit Connect a Scam or a Legit?
If you are searching for the BitConnect reviews so that you can find out what is Bit Connect in real, either is BitConnect.co scam or legit, then your search ends here. We are going to reveal here the real side of the BitConnect. Actually, it is a Ponzi-Pyramid hybrid which means it is an illegal and unsustainable company. If you want to find out why BitConnect is an illegal company, then you can find the details within our BitConnect.co review as below. But, if after knowing the fact that BitConnect is not a good company, if you don’t want to find out more details on it, but instead want to find out the real opportunities to make money online, then you can click the following respective links:-
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OK, now let’s continue our Bit Connect review to find out what is BitConnect.co in detail.
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What is BitConnect and why don’t we recommend it?
BitConnect.co is a Ponzi Pyramid hybrid, a complete package of illegal and unsustainable schemes. Bit Connect is trying to make people confuse by making them believe that they are investing in cryptocurrency. But, the reality is just opposite.
Yep, we agree that BitConnect Coin is publicly tradable altcoin, but it has nothing to do with BitConnect Ponzi scheme. They are just making people confuse by telling this cryptocurrency story just to hide their real business which is a combination of Ponzi and Pyramid scheme. OK, let’s check out their plan to be more clear.
Following are the ROI plans of BitConnect where affiliates believe investing in BitConnect Coin.
- 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.
Anyone who is expert in online business knows that only Ponzi schemes can claim guaranteed ROI and that is also up to 40% profit a month. So, this business claim already proves BitConnect is a Ponzi scheme. 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 more lower rate, in less than 1% monthly interest rate. Even if they are not qualified to take a business loan, they can easily take a personal loan from a bank or just can use their credit card money. So you can think why any company wants to pay 40% instead of paying 1%? So, BitConnect doesn’t pass this logic test and itself prove to be a Ponzi scheme.
On top of that, BitConnect also pays referral commission up to unilevel downlines on the sales of those ROI plans. Any MLM companies 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 consider as a Pyramid scheme, not a MLM company. According to the legal authorities, this kind of business model is completely illegal. So, it is already enough for us not recommending BitConnect.
If you check the WHOIS detail of BitConnect or its official website, you can’t find out any information about who and from where is operating and running BitConnect. In online business industry, hiding owner details should not be taken lightly because none of the legit companies hide their owner details, only scam companies do.
BitConnect affiliates invest their real money like USD/BitCoin into BitConnect to exchange that for BitConnect coins and start to get the ROI payout, however those coins will be parked within BitConnect for 120 to 299 days and affiliates believe that they will earn profit when 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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