Thanks for stopping by to read our BitConnectX review.
Some say it’s a scam while others reviews are saying legit so what is it?
Find out whether BitConnectX is just another scam or is this legitimate ICO by reading this review.
This review on the new ICO from BitConnect named BitConnectX will give you the truth.
BitConnectX Review – Understanding BitConnectX
At first glimpse, it appears like someone has basically cloned BitConnect. Yet upon closer inspection you will see that BitConnectX is a ICO. It comes from the same people who work behind BitConnect.
Workings of the Original BitConnect
BitConnect ran a lending program.
The First step was to sign up. Next, you invested money into the BitConnect coin making use of Bitcoin. After that you can really lend that money back to BitConnect. You can get a percentage of income per day on the money lend back to BitConnect.
Referral commissions can also be earned to by allocating BitConnect with your friends and family. You can also do so by signing people up. Copycat opportunities that are alike such as USI Tech have been introduced. But none of these copycats are able to come close to BitConnect both in size and the success they had.
BitConnect had attracted a lot of attention since its launch. In fact, it had grown to become one of the top cryptocurrencies worldwide. At one point , it sat at number 20 on the list of top coins. It has a market cap of $2.4 billion. At one point it went on to challenge the skeptics who state it was simply a pyramid scheme or ponzi scam.
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Where Does BitConnectX Fit In?
Where does BitConnectX fit into? Clearly, BitConnect is did very well. People earned a lot of money. so, why is this new BitConnectX cryptocurrency coin being launched to go alongside their original coin?
The BitConnectX official website does not give a reason to launch this new coin. BitConnectX ICO was launched on the 10th of January. On their website they assert they are releasing more details about BitConnectX soon.
Is BitConnectX A Scam?
On YouTube skeptics have claimed that BitConnectX might have been launched to save BitConnect from collapsing.
Ever since its launch a lot of people have stated that BitConnect is nothing more than a ponzi scheme.
However, ponzi schemes frequently do pay out in the beginning. The whole thing collapses only later down the line when they start to struggle. It gives a reason for the skeptics to believe that BitConnectX is being launched to help BitConnect stay alive by bringing their company potentially millions of dollars in new investments.
In 2017 ICO’s (initial coin offerings) have raised billions. The trend is only set to carry on into 2018. A number of of the biggest ICO’s of last year in fact were able to raise 9 figures.
BitConnectX Review – Verdict
What is of course not surprising is that there are lean details on exactly who's behind the BitConnectX business, who the programmers are and from where they're operating.
There are no contact pages on the BitConnectX site nor are there any standard Terms & Conditions, investor disclosures and all the other normal legal documents you would expect in a crowd sale of any nature.
Although they've included a FAQs section, this is remarkably sparse with limited information. The FAQs mainly just discuss information that's otherwise on the BitConnectX site somewhere else.
We've reviewed many ICOs and there's never been one with such sparse information on everything from the technology to the business and founders. We would have achieved and asked for a whitepaper when we could even locate contact details.
BitConnect “could have” been a ponzi scheme. Yet, on the flip side they did stand the test of time. So, who really knows what happened behind the scenes, that ultimately lead to their collapse.
Should You Invest In BitConnectX?
It depends on whether you want to take the risk. Go ahead and take that risk if you wish to invest in an ICO that may earn you huge returns but may also flop. We did a review on other Alt Coins that may be worth a look here.
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