Well we have all witnessed what happened with BitConnect, they left their customers high and dry, closed their doors and vanished into thin air, although the Coin is still on some exchanges the Lending Platform is non-existent.
I understand how these people feel. I was also a victim of a similar Scam, where they promise you an interest every month and also Commissions on anyone you refer. I didn't refer anyone (Phewwww Thank god!) I was only in it for the promised high return of interest. If only I knew!
You see I was very naive back then to believe that such a system was sustainable. I was completely new back then to Cryptocurrency and when someone approaches you with such an opportunity you think you've hit the JACKPOT!
Sadly I had to learn the hard way and a lot of people who were with BitConnect also had to learn the hard way if they weren't on top of the food chain.
If it sounds too good to be true, it probably is. Anyone that promises to double your Bitcoin in 24 hours is probably running a short-term pyramid scheme, although BitConnect did manage to stick around a bit longer than short-term and cause long-term damage for many.
I have been watching a "new" Platform on the Market that goes by the name of LendConnect ...hmm Strange? The name sounds familiar? And it's also a Lending Platform with a referral program, Surprise Surprise.
Same shit, different story!
They are promising 155+% ROI on investments every month depending on how much you invested, which is a 1.5% - 5% return every day. Then also commissions from the poor souls you drag in.
They even claim they have a trading BOT that makes them a 7% return on investment and they are willing to give you 5% of that return so they can remain with 2%. Now how in the HELL is that sustainable, that right there is BS in itself!!
Another suspicion I have is the domain name which is protected by public scrutiny. You can't even see who owns the website. And forget trying to establish their physical address, they claim to be in "EUROPE" good luck trying to find them.
And don't even get me started on the Whitepaper, it looks like a child wrote it, the writing is poor and the grammar also, with no organization, they could have at least hired a professional.
Even when they mention their LendConnect Team they show no faces or names, they can't show us ONE identity but don't worry they assure you they aren't going to SCAM you and run away with your money. They also provide reasons why they can't expose any identities
We all have families and loved ones. In
case LENDCONNECT would grow to be worth
several billions of dollars you can imagine
that our lives would change drastically. We
choose to not adopt the rockstar life with all
the negative perks that are attached to it
Personally, I can't say how long this Platform will last, my thoughts are it won't last longer than BitConnect did, but I could be wrong. As I mentioned before though, they are usually short-term schemes that cause long-term damage.
So please, learn from my mistakes I made years ago and do your due diligence to Research before you invest, even if it is a family member or friend that recommends it, they might not be aware of these issues, they might also be new or inexperienced.
I'm not trying to ruin anyone's fun either, I just want to raise this issue with you and show you what I think of the Platform.
Stay safe FOLKS and thanks for reading