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Is Bitconnect a Bitcoin?
Is Bitconnect a Bitcoin?
Sarah Jenkins••5 min read
BitConnect is an open source all in one bitcoin and crypto community platform designed to provide multiple investment opportunities. Where as Bitcoin is a decentralized virtual crypto currency. Virtual currency of Bitconnect platform is called Bitconnect coin or BCC.
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Keeping this in view, how much money did BitConnect get away with?
The bitconnect scam is the biggest and most well known Ponzi scheme in cryptocurrency history. In just over a year, the 'project' managed to propel itself from an obscure ICO to a crypto project valued at a staggering $2.6 billion.
Likewise, is BitConnect closed? On January 16, 2018, Bitconnect announced it would shut down its cryptocurrency exchange and lending operation after regulators from Texas and North Carolina issued a cease and desist order against it.
People also ask, what happen to BitConnect?
In a menacing turn of events yesterday, Bitcoin investment lending platform BitConnect abruptly announced it is shutting down its lending and exchange services. To this end, the company had developed its own proprietary “trading bot and volatility software” that would turn your Bitcoin investment into a fortune.
BitConnect: Is It Legit or a Ponzi Scheme? BitConnect is a Bitcoin investment platform and a cryptocurrency released in 2016. On the other hand, detractors warn that BitConnect's business model does not seem entirely honest, and it could be a long scam or a variation of a ponzi scheme.
The Bitconnect Coin was among the world's top 20 most successful cryptocurrency tokens until its price collapsed after traders began losing confidence. BCC rose from a post ICO price of $0.17 to an all-time high of US$463 in December 2017, it declined to US$0.40 as of March 11, 2019.
Sarah Jenkins is a veteran tech journalist with over 12 years of experience covering artificial intelligence, mobile innovations, and digital ethics. Her insights have appeared in leading technology publications worldwide.
