BitConnect X or BCCX at Bitconnectx.co is yet another new Initial Coin Offering opportunity on the internet. There are many of these sites because literally everyone is launching a coin these days.
What exactly can we say about BitConnect X? Well, the first thing we can say is that the name of this title and the so-called coin is not inspiring any confidence in us. There is also a sketch on the site which acts as road map for their activities in 2018. They claim that the rest of the unsold coins will be be dumped or used as reserve (we didn’t quite understand this part).
All we know is that BitConnect X is intending to supply some 49 million coins. Out of the 49 million coins, the public can buy 11.7 million coins only. On the other hand, 2.9 million coins will be held in the reserve to pay for administrative fees and many other things which involve the operations of BitConnect X.
The question is, should we invest in this coin? Should you even waste your time trying to figure out whether or not BCCX is a worthwhile coin to invest in?
That’s the question we will be answering in this BitConnect X review.
👉 ***Want to earn money with Bitcoin and other Cryptocurrencies without the pain and hassle of learning to trade from scratch? Imagine if you could trade and get regular results with profitable performance! Are you tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard-earned funds? If any of that rings true with you, then STOP EVERYTHING. ProfitFarmers is for you! With their software working as your Crypto Co-Pilot, YOU remain as the Pilot with total control over your money, 100% of the time. ProfitFarmers is a trading tool that combines artificial intelligence with the expertise of veteran traders to deliver high-probability trade plans right into your hands. There’s no need to spend hours trying to figure out what to trade! Thanks to their integration with Binance, the biggest cryptocurrency exchange worldwide, ProfitFarmers executes your trades from entry to exit, you just choose the trade signals you like, pick your entry price and then let your Co-pilot take over the rest of the journey. Stay informed about every step of your money-making journey through push-notifications on their mobile app. Now there’s no need to constantly worry about your ongoing trades, just let your Co-Pilot handle it for you! This could easily be the holy grail of trading tools. Forget paying a guru to trade for you and take a massive cut of what you earn. With ProfitFarmers there are absolutely NO COMMISSIONS OR FEES ON YOUR TRADES. 100% of what you earn is 100% yours to keep. Period. Last quarter, ProfitFarmers produced 1,357 trade plans, and more than 60% of them offered peak gains of over +8%. By joining ProfitFarmers, you’ll never be short on money-making opportunities. Still wondering if this is too good to be true? ProfitFarmers has a 100% Money-Back Guarantee if they don’t deliver profitable opportunities onto their platform. If you are ready to upgrade your trading game and instantly expose yourself to profitable trade opportunities, now is the time. Head to ProfitFarmers now to start trading the easier way, with your very own Crypto Co-Pilot.PS: ProfitFarmers is a Trading Tool. Your money ALWAYS remains in your Binance wallet, never on ProfitFarmers. 100% Verified and Recommended by Valforex.com.
Note: Only mine altcoins with these websites.
In a nutshell, BitConnect X or BCCX is an open-source, block chain-based decentralized altcoin that enables instant transactions between peers and with minimal fees.
The site also claims that you will earn interest if you keep some coins in their wallet. This is meant to help maintain the security of the network. We do not understand how.
The digital wallet is attached to the network, and so transactions are supposed to seamlessly flow through it.
The website intends to design a Cryptocurrency exchange platform where BitConnect X will be traded against other coins as well.
The road map actually tells us that this platform will be ready later this year. They will also be looking to add more altcoins that can be traded against their coin on this platform.
These plans obviously sound promising. But honestly, BitConnect X is not confidence inspiring because for one, this coin doesn’t have any value. It is not backed by anything which could actually raise its demand. Furthermore, BitConnect X website is not offering a unique service. There are literally hundreds of similar sites on the web which are offering coins too. What difference does BitConnect X bring to the table?
What is the idea behind this coin? And can they convince us how the value of this coin will rise in the next few years (if at all BitConnect X will even exist)?
The point is, there are many questions that we need answered in a whitepaper.
Come to think of it; BitConnect X does not even have a whitepaper. A whitepaper is very different from a road map which the site has already provided.
A road map clearly shows what the business intends to do in the short term. Generally, this is a timeline of what they are supposed to do in 2018.
Now, a whitepaper is needed because it provides more value than a road map. For example, when we want to know how this coin will increase in value, we will need to consult their whitepaper. When we need to know the risks involved and how these risks will be minimized or mitigated in this business, a whitepaper can always help us.
When we want to know the people behind BitConnect X and their experience in the blockchain space, we will equally find the whitepaper useful.
Now, lack of a whitepaper to highlight these critical details is a huge red flag. It shows that BitConnect X does not take its business seriously. And when they prove that this is not a serious venture, then you should expect it to disappear sometimes in 2018 or next year.
Most of these ICOs are nothing more than ponzi schemes. A lack of a whitepaper to highlight certain details about the business is clearly a red flag.
Before we forget, let’s start with ownership of this business. Who are the owners or operators of this site? Are they backed by any corporation?
We need to find out. These things should be contained in the whitepaper. But unfortunately, BitConnect X does not have one, which forces us to look them up on who.is for further information.
Now, when we run the domain on who.is platform, we are not surprised to discover that the domain is privately registered. That means we can’t see the name of the owner.
That is a very common trend with ponzi scheme websites. You don’t want to invest in an ICO like this because ownership details are hidden, and secondly, the value of this coin is not backed by anything. As a matter of fact, this coin is valueless.
They are selling it for $50 BCCX when the actual value of this coin is zero. What exactly is the inspiration for selling one coin for $50?
You see, for you to price a coin, you must consider a number of factors. Some of them include the potential value of the coin in the near future (which is influenced by the idea that is backing that specific coin) among other things.
We cannot emphasize any further. This information needs to appear in the whitepaper, which we have already learned that BitConnect X website doesn’t have.
Combine these findings with the fact that ownership of this site is discreet and you will see how this can be potentially a huge rip off.
We would never encourage anyone to buy this coin until these questions are answered.
The specific questions that we want answered are as follows:
-Why is the coin’s value $50?
-What assurance is there than this coin is worth the price and investment?
There is some reference to lending or what they describe as keeping coins in your wallet so that they can earn interest.
And then there is also mention of some 35 million coins going towards mining activities.
These are apparently the reason why they think this useless coin will grow in value over time.
But honestly, pricing BitConnect X coin at $50 is clearly something that doesn’t make sense.
There is nothing so unique about keeping these coins in your wallet or mining them. So that means the value of this coin cannot rise based on those two things.
In fact, many websites are now doing the same thing. Their coins have always remained valueless. On the other hand, investors were fooled to buy and store them for later profits. Today, those investors are regretting because the coins they bought have never increased in value or listed with any major exchange on the internet.
History repeats itself, and BitConnect X is not any different. This is definitely a site that people should not take seriously as it is showing the characteristics of a ponzi scheme.
BitConnect X could be a scam, and in that case, it’s not bound to last a long time on the internet. If you ever buy this coin, you will have yourself to blame when you suddenly realize that your money has sunk with the ship.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.