Is Bibox Bitconnect 2.0?
Bibox is doing something a little out of the ordinary, They have a new feature in the exchange called Cunbi Bao. With this you can lock up BTC and some other coins for a 30 day period and earn 9% Per Annam interest, that equals to 0.75% for the 30 day period just for locking your Bitcoins up. You will receive your invested amount plus the interest at the end of the 30 days. It starts tomorrow.
This seem all to familiar, very much like Bitconnect except the interest rate isn't 1% a day . I have looked around Bibox's site and Googled to find out more info and find out how they plan on making the Bitcoin to pay for this and cant find a thing, very fishy. Bibox is the 13th largest exchange by trading volume so you would think it would be legit.
Until Bibox can tell us and prove how they make the money to pay for this i wouldn't be touching it with a ten foot pole. Its a shame because i do sometimes use Bibox it has the lowest fees of them all and the BIX coin is also pretty good it pays the token holders 30 percent of the exchanges daily profit.
If you know something i dont let us know about it
Bibox:
https://www.bibox.com/login/register?id=11143815&lang=en
This is not professional financial advice please do your own research before making any investments.
If it sounds too good to be true it usually is...
99.99999 percent of the time that is right
it dont pay enough for the huge risk taken anyway
yeah its not worth it