Analysis: BitConnect Coin (BCC)
The hedge fund of the cryptocurrency world?!
1. What is BCC?
BitConnect Coin is an open-source, peer-to-peer, community-driven decentralized cryptocurrency that allows people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on the investment. This means anyone holding BitConnect Coin in their wallet will receive interest on their balance in return for helping maintain the security of the network.
2. FIT Test (F: Future updates; I: Innovation; T: Trends):
FIT Test enables us to check the uniqueness, alignment with respect to the current trends and future update of the fundamentals of the corresponding cryptocurrency.
BitConnect community leverage on retail investors’ investment in BCC and through their so-called “cryptocurrency bots” invest in other cryptocurrencies or maybe other investment instruments in order to generate a daily interest for their retail investors.
Also refer to the following link for more information on what BCC is offering: https://bitconnect.co/bitcoin-information/18/investing-in-bitconnect-coin-and-staking
BCC seems to be a hedge fund of the cryptocurrency world.
C. Future Updates:
Roadmap for the future of BitConnect Coin’s is not clearly presented by their community.
Community details not published anywhere by Bitconnect. Strange!
4. Uniques Features:
Not available; except for their referral scheme that makes BCC seems like a Ponzi scheme.
5. Downside / Risks:
Risks are extremely high since there seems to be no sustainable business model that backs BCC.
No information on BCC available based on which we can gauge a future.
7. Technical Analysis:
tradescrypt.com team does not want to present a technical analysis for this altcoin since it does not seem to be a fundamentally strong cryptocurrency and therefore not worthwhile recommending.
No fundamentals, no business, no assurance except for the words written on BCC’s website. We fear that when time runs out, investments may be as good as burnt.
Our advice to investors investing in BCC: BE CAREFUL!