Community post
BitConnect Scam??? Day 16
As some of you already know, I started a $100 loan on BitConnect 16 days ago for the sole purpose of finding out if BitConnect is truly a scam. As you can see I am NOT posting any referral links to BitConnect...just showing my results.
So, here we go....
Total return after 16 days is $8.60
On this next illustration you will see the daily profits also, there are 2 withdrawals -1.48. I wanted to see if I was able to transfer my USD profits into Bitcoin and actually withdraw my Bitcoin from BitConnect. Sure enough I was able to do so!
So far I've learned that there are 3 ways of making money on BitConnect.
1. Loan.....returns should be more than double the amount of the initial loan. (There's a holding period for the loan but, profits are paid daily)
2. Convert daily profits to BitConnect coins when price is down on the market, Hold till price goes up and convert BitConnect to Bitcoin
3. Referrals (This is definitely where I've seen many people make most of their cash)
Hope this helps! Have a great day!
Replies (3)
Hi @coronamuzic, thanks for sharing your experience..
Do you know by any chance what a bitconnect sponsor is?
Thx
HI..Yes! If I were to share my referral link and you were to sign up using my link, then that would make me your bitconnect sponsor. If you make a loan after signing up with my link, I get paid a bonus for referring you to bitconnect.
what do you mean by this?
"Convert daily profits to BitConnect coins when price is down on the market, Hold till price goes up and convert BitConnect to Bitcoin"
When "it" goes up specifically.
I just want to be sure I understand correctly my friend.