BitConcent has been gathering quite some popularity lately. Not to be confused with BitConnect, a lot of people are asking if this new cryptocurrency is worth it. If you are one of these people, read on and I will unfold this and more.
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BitConcent – Is It Worth It?
One of the things that come to mind when you search for something or someone is to check their website.
Looking at BitConcent’s official website, we can say that it looks good. But there isn’t much information about the cryptocurrency on their website. There isn’t an address or an owner of the company which gives a sense of a typical cryptocurrency. Everything is private. Even when we checked the domain – there isn’t a public name that is said to own the domain.
The only thing we found out from the domain was the date of registration – September 24, 2017, which on the other side tells us that this is a new company.
Goods and Services
There aren’t any goods or services that can be sold to customers, so they can rely only on affiliate membership. Most of the time, such companies are recognized as multi-level marketing ones. This leaves the impression of a scam for the average person.
What are the earnings?
When you decide to enter the BitConcent’s world, you will be given the convenience to buy BTTC point for just $1.50 each. Then you will have the opportunity to lend them back to the owners of the company. This way you can start receiving monthly payments (ROI), that are offered for a total of 90 days and you can have a gaining of up to 45%.
Investors can decide between different tiers, depending on how much they want to invest and earn alongside. You can see the following table for examples:
- Investments between 50 & 1000 B.T.C.C can earn you a daily ROI
- Investments between 1001 & 5000 B.T.T.C can earn you a daily ROI + 0.1% bonus
- Investments between 5001 & 10,000 B.T.T.C can earn you a daily ROI + 0.15% bonus
- Investments between 10,001 & 50,000 B.T.T.C can earn you a daily ROI + 0.2% bonus
- Investments between 50,001 to 100,000 B.T.T.C can earn you a daily ROI + 0.25% bonus
- Investments for 100,001 B.T.T.C or more can earn you a daily ROI and 0.3% bonus
There are also BitConcent Gold points (BTCCG) for those, who like to upgrade their incomings. These coins are more costly ($10 each) and luckily, the process is similar.
Earnings start when you buy coins and lend them back. Then you should expect a daily ROI and a bonus, depending on your assets. In addition, you can earn also from commissions and referrals.
How much should I invest to join the BitConcent’s world?
You don’t have to invest money at first. There are options when you can earn just from referrals. A certain amount for every person that you convince to enter. It’s called a referral commission. On the other hand, if you want to take advantage of all the bonuses, you should invest at least 50 BTCC.
In the end, is it safe?
You might have heard some opinions here and there, but the truth is BitConcent is not really a scam. It’s just an imperfect system and if you are cautious about some things, it would be better.
The multi-level marketing usually is seen as a bad scheme and a big balloon. The main purpose of which is to invest some money and then receive ROI and bonuses. As the new investors come after you, part of their investment goes to you, but most of it goes to the admins of this scheme. Those schemes rely on a constant flow of new investors for paying the older ones and making a profit to the company itself, but this whole thing is a big balloon which will flatten one day.
So it’s risky to put your money in these types of Ponzi schemes.Yes, you can earn something when you invest, but sooner or later, you will lose it all.That’s why it’s better to stay away.