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RE: What is your crypto exit strategy ? 🚩
I’m currently in Bitconnect and i believ it is the most legit of these platforms. Also, the exchanges definitely cannot handle a mass evacuation of cryptos. I believe we would all be stuck and our losses would increase. I honestly feel the exchanges are a way for the govt to control cryptos
The thing with Bitconnect for me is they don't except their own crypto. You have to send your Bitcoin and then buy BCC on their exchange. Why won't they let you transfer BCC in from outside? You basically buy BCC with Bitcoin which pushes the price of BCC up, you then sell them their BCC back and get dollars in return which you then loan out and your pay out is in dollars.
I think it is a very unique pyramid scheme, unique as in it works off the crypto market which is like we have never seen before. I would love it to be legit as I would hate the idea of people losing their money like with Hexabot and Bitpetite.
" honestly feel the exchanges are a way for the govt to control cryptos"
I don't think that's how they started but they are now. People always say Bitcoin can't be stopped but I have long thought it is through the exchanges it can be done.
Thanks for the comment.
You can send the Bitconnect token to the platform from outside. Just like every other coin, you basically have to purchase BTC and then trade it for the coin you want. However, yes they do manipulate their price. I do believe it is fishy, but i also believ they are trying to become legit and get things set up the right way. Only time will tell.
Good luck with all your investments my friend and I appreciate the response from you :)
"I do believe it is fishy, but i also believe they are trying to become legit and get things set up the right way"
I agree with that :)
Followed you.