BitConnect Coin: A Cryptocurrency
Bitconnect coin is a cryptocurrency, is a sign of a peer to peer payment system under bitconnect. It means that it allows people to invest their money in a non-government controlled currency and earn a large interest on their investments. www.hextracoincrypto.com offers some in-depth insights on hextracoin.
The cryptocurrency is used mainly inside the community and the coins are difficult to exchange. These coins are accepted and supported only by a relative small number of platforms.
BitConnect can be used for the following:
- Long-term investment. The tactic of bitconnect coin is purchasing for market speculations or investments in the coin rate growth can be seldom encountered; there will be fluctuations and risks are inevitable.
- Loan. The design of the system creates incentives for members to keep their money in electronic wallets.
The makers of the currency inform the investors about the presence of the own trading robot of BitConnect, which trades on the inner exchange of bitconnect coins. However, members are required to replenish their account with Bitcoins, Buy BitConnect coins, and loan them to the trading robot. At that point, the amount of Bitconnect coin is given in US dollars. The money on the account is frozen for 120-299 days and should not be withdrawn. The interest is accumulated to the amount kept in the wallet which could take up to 30% per month; thus the interest can be re-invested or withdrawn.
So just like the bitconnect coin, hexatracoins, peercoin and other cryptocurrencies coin, there will always be rules to follow too gain what we basically joined for. But as advised, people should be more careful and cautious when dealing with this kind of risk.