Sometimes, you have to lend money to make money. However, you must be cautious to avoid falling prey to fake websites. The cryptocurrency world has witnessed spectacular growth throughout the last six months. We have witnessed the astronomical rise of the Bitcoin, which now rests at an all-time high. There are many sites today that target rookies into cryptocurrency world. To prevent falling prey to scams, you should educate yourself on just how Bitcoin works. Check out reviews of people who have tried out many of these cryptocurrencies and can provide opinions from informed points of view.
Should I go for it?
There are several places where one can borrow money. This might be lending institutions, banks, car note loans or payday loans. The purpose of lending out loans is to make a profit. The borrower is the party that remains disadvantaged as the terms are drafted carefully to ensure the lender remains advantaged. You can rest assured that the Return on Investment will be in your favor. Provided you are comfortable lending out money that you can afford to lose, this is a suitable business opportunity.
What is the Bitconnect platform?
Having a name closely related to Bitcoin, the name might be a little confusing. Their website is neatly organized and very informative. Some of the offerings provided on Bitconnect include stake, invest, trade and mine. Each one of these is a fundamental part of the website. For more, click here.
Bitconnect – investing
Of all the parts of that this website laid out, investing seems to be the most controversial. For one, many consider this as a scam. Online, there are thousands of reviews by people who share their opinions; some are legit, while others are false. Bitconnect explains their investing part as a viable investment that allows the investor to receive daily profits from their volatility software and trading bot. Upon completion of your investment term, you are at liberty to receive your initial capital injection back. What this means is if you invested $1000 and it grows to $1400, you can only get back the initial $1000 you put in. The rest remains in your capital account, gaining interest daily.
Other lending approaches
The platform offers its visitors’ affiliate marketing opportunities. You receive a unique affiliate link that earns you money when people sign up for it. After the sign up, you receive bonuses. Another aspect of lending is re-investing. People invest their earnings here as a microloan and begin earning interest. You have to wait for the end of a return cycle though.
Bitcoin in a nutshell
Cryptocurrencies, such as Bitcoin, still lure investors with the anticipation of huge rewards. In equal measure, they scare away others as they are high-risk investments. Cryptocurrencies are quite volatile though. It can plummet to 25% and rise instantaneously 100% later. The uncertainty and volatility provided by cryptocurrencies are what brings about the diverse opinions among investors. The currencies have turned hackers and other fringe internet characters into millionaires overnight. Many conventional money experts argue that it is doomed to fail as it is a currency administered without any form of regulations.…