Review & Breakdown of EthConnect

EthConnect is a new opportunity that caught my attention but the question on everyone's mind is whether EthConnect is just another scam.

I'll be sharing details and my personal opinion.

EthConnect

EthConnect has gained quite some attention lately, you may not have a good idea about what it actually is and whether its claims are real or its just another scam. Below you will find all the details to have a better idea on what EthConnect is and its mission.

What's EthConnect?

EthConnect is a platform that allows P2P transactions via cryptocurrency. This cryptocurreny is called Ethereum Token or ERC20 and runs on Ethereum Blockchain. Ethereum provides the users with a place to invest or simply store their money in a financial stream that is decentralized. Users are able to profit from each others investments.

How does EthConnect work?

Financial transactions made on EthConnect are anonymous until you decide to disclose your identity. Users will be identified via nickname, even while signing up, thus maintaining privacy. You can only transact via smartphones or computers. Every transaction can be recorded and monitored on the blockchain.

EthConnect Currency

There will only be 31m coins of its online currency worldwide. The currency is provided roughly on the basis of supply and demand, it remains in short supply even while in high demand to minimize the risk of bad debt partners.

What is EthConnect Smart Contract?

A smart contract is for the purpose of allowing two parties to carry out a transaction without any third middleman. All final transactions are able to be viewed by anyone, but the names of the people involved in the transaction will remain private.

Who owns EthConnect?

EthConnect comes from ICO, which is responsible for distribution of its digital currency. It releases 8,000,000 tokens and the original price per token was set at $0.50 USD. The ICO is constituted 30% by the developer, 20% by the advertisers, 30% by investors and finally 20% by developers and advertisers together.

Who Should Invest in EthConnect?

You might be wondering if you should take advantage of this opportunity? This will be a good fit for someone willing to take small risk for big gains. EthConnect also allows people to lend to other users at 45% interest at the following rates:

Interest on $100 – $1,000: Get capital back in 179 days

Interest on $1,010 – $5,000: Get capital back in 149 days

Interest on $5,010 – $10,000: Get capital back after 119 days

Interest on $10,010 – $100,000: Get capital back after 89 days

There are several options in EthConnect for which an investor can choose from.

These include:

EthConnect Trading: The profits are not on level with the prospect of lending via EthConnect.However, it tends to give a stable return.

EthConnect Stacking: Users earn interest by owning coins.

EthConnect Mining: POW (Proof of Work) algorithm to mine with the use of coins.

Is EthConnect A Scam or Ponzi Scheme?

The chances are very HIGH. Same for BitConnect, it is most likely a ponzi scheme and although it may last a while it will probably end up collapsing sooner or later. The same is true for the newer yet smaller BitPetite which already collapsed.

BitConnect has stood the test of time so far and if it is a ponzi scheme then it's a billion dollar ponzi as it's current value is will over $1 billion.

My honest opinion with EthConnect is that it will be a good investment for the short term. For long term investments you need to be careful as the whole thing could collapse.

EthConnect Conclusion

I wouldn't recommend this because not only is it risky their having way to many website issues to ensure security and safety of digital goods.

That being said, if you invest in this ICO with a short term outlook (e.g 6-12 months) you could see a decent return on your investment.

Before you go...

If you’re tired of scams and want a real solution for making real money online check out BitConnect.

It’s helped me earn money!