Cryptocurrency is digital money which has no physical presence, it is all online. There are various cryptocurrencies like Bitcoin, Litecoin, Ether, and many new cryptos continue to be created. Just like forex brokers, there are cryptocurrency brokers who facilitate trading in cryptocurrencies. Bitconnect is one of the crypto brokers and in this article, we will get to the details and find out whether the broker is legit or scam. Read the full Bitconnect review here.
Bitconnect is an investment platform for Bitcoin and it has also released its own cryptocurrency in 2016. The website of Bitconnect does not list any information about who is behind the platform and even who is running the company is unclear. The brokerage company claims to utilize a uniquely developed bot for trading. The bot is named as volatility software, it takes advantage of the changing Bitcoin market. The bot predicts the changes in the price of Bitcoin and invests the money of the client accordingly. Bitconnect seems trying to create a Bitcoin clone, naming Bitconnect coin with the main purpose of making money. This is Bitconnect’s own cryptocurrency and is offered to its clients to invest just like they do in Bitcoins.
More facts about the Bitconnect:
The company seems shady as there is either no apparent owner of the business or the owner trying to hide its identity. Both cases are concerning, and the website is giving very little details. Also, browsing the website doesn’t inspire any confidence, which is the most prominent thing while investing. There are various negative reviews about the company suspected to be a scam. On Trustpilot.com, the company got 3.1 stars with a number of negative reviews. One of those negative reviews reads, “A client of Bitconnect completely trusted it with all of his funds and even compounded his profits daily. The staking claim appealed to him, but it was all fake and scam in the end, according to him”.
Is Bitconnect a scam or legit broker?
Bitconnect seems suspicious and suspected as a scam. There are many indicators that have been mentioned in this review which points towards the risk involved in dealing with this broker. The internet search for the company has also shown that there are many people who have lost their money to this broker. Therefore, it would be advisable to get to the details about the broker and go through this review as well before investing with this broker.