Many claim Bitconnect to be a scam or Ponzi scheme, others say it's a legitimate and lucrative investment platform, so which is it? After watching the countless videos on YouTube, I came to one conclusion, if I wanted to know the real answer I would have to put up some of my own hard-earned cash. You see many of the videos featured on YouTube seem to me a bit biased and it's all because of the affiliate program, but I am now starting to understand it.

So, let’s get into it, what have I found when investing some of my own money? Well, I'll admit I am still quite early in the program but I have been getting results. I invested $560 on November 17, 2017 and now, here it is a week later, and how much money have I made? Well Bitconnect assured me of around a 1% gain DAILY, which is obviously an extraordinary claim. I mean who wouldn't be a bit apprehensive when hearing this claim but here I am taking the plunge. So, from my $560, in a week, I've made $30.95... which is 5.5% and this is without ANY referral commission. Actually, not bad, not bad at all. Not exactly 1% daily but still really good. I still have a long way to go on my journey and maybe this will average out to the 1% the further I go. But so far, I am getting results and I have a plan on how I will get my initial investment back before the loan end date.

Is it a scam? Not for the loan part, at least not so far, they have been giving me my returns. Let’s take a look at the affiliate or referral program. With the referral program Bitconnect gives you 5% commission on whatever the person that assigns you as their sponsor invests. And then in addition to this anyone that you referred that refers someone else you also get a small commission, and so on until a certain point. So, this is a Ponzi scheme then isn't it? Well let’s find out what the SEC says a Ponzi scheme is:

"With little or no legitimate earnings, Ponzi schemes require a consistent flow of money from new investors to continue. Ponzie schemes tend to collapse when it becomes difficult to recruit new investors or when a large number of investors ask to cash out." https://www.sec.gov/fast-answers/answersponzihtm.html

Let’s pick this apart. Can you say that Bitconnect has little or no legitimate earnings? In my opinion I think that this would be an incorrect statement. Bitconnect earns an extremely large sum of money off trading your Bitcoin that you loan to them with, supposedly, their trading bot, but even just holding it or manually trading the volatility, anyway you slice it, they are earning legitimately without this affiliate program. Does Bitconnect require a consistent flow of money from new investors to continue? Doesn't everything require a consistent flow of money to continue? This is a pretty silly guideline. If I can assume they mean requiring new money to continue then even that seems to be mostly "no" as long as the current investors keep loaning their Bitcoin, Bitconnect will continue to profit by trading the volatility. So that leads to believe they don't need new "blood" if you will to continue and so they are making legitimate earnings, in my opinion and thus not a Ponzi scheme, also of course in my opinion. Would these arguments hold up in a court of law? I have no idea, I'm not a lawyer.

So, in my conclusion I can't say they are a scam because they are paying me as promised, so far. Also, I can't quite say they are a Ponzi because I do not believe they are paying me directly from another's investment fund, but instead I would be getting this commission from the company itself, unlike a real estate agent which gets paid from the actual buyer or seller of the home. Legitimate and lucrative investment platform then? Well so far, from my experience it is very much so. Whether or not this can keep paying the way it has been is the million dollar question, but it is this writers opinion that, given the way crypocurrency has been growing, then this should be profitable for at least another 2-5 years, which if you do the math is really all you should need to make a ton of money. This is not advise and is strongly recommended to do your own research and draw your own conclusion before investing but I think there is money to be made here.

Ready to make money? Free to join Bitconnect here: https://bitconnect.co/?ref=dgarza42

Like the article? Donate BTC: 1W94bAjDaNQyWU3mJb5Y3Qy7mqnAZwLL8