Episode Highlights:
- 00:02 – Advice You Will Receive From Dan In This Video
- 01:05 – Did I Make A Profit After 2 Days With Bitconnect
- 03:12 – How To Reinvest Interest Earned With Bitconnect
- 04:55 – Is Bitconnect A Scam?
- 06:05 – About Bitconnect Business Model
- 07:57 – How Long Will Bitconnect Last
- 09:42 – Will I Continue To Reinvest In Bitconnect
- 10:32 – How Much Will I Earn On The $1030 Investment In Bitconnect
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Transcription:
Hey guys what’s up again, it is Dan from cryptocamacho.com.
00:02 Advice You Will Receive From Dan In This Video
I am on day 2 of my BitConnect journey. I haven’t made any profits yet but I’m about to login and see if I have made my first profits on BitConnect.
Each day you are supposed to get interest and they’re supposed to pay you back in daily interest every single day that is generated from their volatility software. And so that’s where I am at today. Just to show you what I’m talking about if you go to the BitConnect website here and you go to BCC lending and click down on volatility software, right there you will see what you are supposed to get as payout every day. So based on the amount that you actually loaned you will get a percentage of daily interest added to your account. And so today which is November 17, 2017 I am supposed to get a 1.95% payout, yesterday I was supposed to get .48% payout. Let’s log into my account and let’s see what it looks like.
01:05 Did I Make A Profit After 2 Days With Bitconnect
So let’s log in right here, cryptocamacho.com. I am not a robot, at least not during the week. So here is my BitConnect account and look I got some money. 97 was deposited to my lending wallet. This is not here yesterday so I got my first paycheck on BitConnect. Hallelujah, that’s awesome. So I am pretty pumped about that.
Let’s scroll down and look. So I have invested a total of $1030, they are still holding my capital, here is my loan and proof of my loan right here. It kinda shows exactly how much you have lended out and what you have done. Total earned. Okay I have $5.97 and you can see. And if you go over to transactions, you can see a full history of everything that’s happening in your account.
So in my BitConnect while it I purchased 3.78 coins, I purchased a number of clients and then I transferred those coins to a lending program in BitConnect. And so if I go to my lending wallet, you will see that I lent $1030, this is the $5.97 paid yesterday it looks like. And it was an interest of .58% which I just showed you on the volatility software screen on the previous screen. Let me show you one more time. So 0.48%, they actually gave me .58% if you think about it. And if you look, it says .48% there but when I go down to transactions and I go into my lending wallet, it looks like they gave me .58%. So great, I am super pumped, I got my first payout of six dollars. I gave them $1000, they gave you back six dollars – what a great deal.
Now this is only the beginning. This is my first day, my second day of actually using BitConnect and it is really encouraging to see that I actually have money in my account.
03:12 How To Reinvest Interest Earned With Bitconnect
So I am going to go ahead and actually reinvest that $5.97 back into BitConnect. So first let me just guide you through the really quick. Go back to your dashboard, go to the reinvestment button. And it says you will receive daily profits based on your investment option. Upon investment term of completion you will receive your investment back, your capital back to take from the BitConnect lending platform and you have an opportunity of reinvesting it back into the platform and receive daily profits. So I’m going to go ahead and reinvest that. And I’m going to say $5.97, all of it. And let’s reinvest.
You know I have to actually transfer this back into a wallet. Let me go ahead and do that here. So first what I need to do is actually transfer this to my BitConnect wallet to reinvest. So let’s go do that.
Alright guys I just a little bit of reading and it looks like you cannot reinvest what you have made in BitConnect until you have at least $10 in your lending wallet which is why right here when I went to reinvest, I can’t do it you can see it is blocked out right here. So you need a minimum of $10 to actually reinvest in your lending wallet before you can do so. I just wanted to let you guys know that quick little piece of information. But I do have $5.97 in my wallet, I’m super stoked about that. I’m super happy that I made my first profits today.
04:55 Is Bitconnect A Scam?
And I wanted to talk a little bit about it. I’m getting a lot of comments, feedback and people telling me that BitConnect is a scam, that BitConnect is a Ponzi or whatnot. And you see that on YouTube quite a bit as well. I don’t know what to think about all of this which is exactly why I am using BitConnect myself and I’m trying to experiment with it myself because there is a lot of misinformation out there on YouTube and on the Internet, on the blogosphere on Reddit and so it is hard to really know what to believe. You see thousands of YouTube videos saying that BitConnect has made people millionaires, made lots of profits. Then you see an equally number of videos saying that people have been scammed by BitConnect and that it is a scam. But what I am finding is that most people who are saying that BitConnect is a scam haven’t actually use BitConnect at all. They haven’t actually used the platform, they haven’t actually gone on the platform, lending money. They haven’t actually gotten money back so forth and so on. So a lot of it is just anti-marketing hype. People are saying since they are seeing a lot of videos on YouTube about BitConnect and they think in their minds that it must be a Ponzi scheme, it is unsustainable blah blah blah blah blah – they just automatically label it a scam.
06:05 About Bitconnect Business Model
What I am trying to do is I’m trying to avoid that in my videos which is why I have invested in BitConnect directly myself so I can experience it myself and see if it really is a scam. Sure I didn’t need to start off by investing $1000. Of course I could have started with something lower like $100 or $200 but I have more faith in BitConnect than other people do. And I have been watching BitConnect for some time. I have learned a little bit more about their business model. If you watch a video I’m going to be putting up here soon, and went explain what their business model is and that it’s not necessarily the Ponzi scheme that people think because the way their business model is working together is that they actually pegged BitConnect client to BitCoin. So as long as BitCoin goes up in value, BitConnect will go up in value as well. BitConnect the company is holding all of the BitConnect coins from loans into very very few wallets.
There is a handful of wallets that BitConnect is actually holding and that’s stabilizes and maintains the BitConnect coin price. So anytime somebody makes a loan, BitConnect will actually take those claims and hold them in a wallet for the term of that loan. So for at least 129 days, maybe even longer than 129 days. And what that does it effectively locked in BitConnect coin at the value, at a price point that you see on the exchanges. So I think BitConnect today, if you see it is $294 and this continues to go up. And that is because nobody is selling BitConnect coins because BitConnect the company is holding a massive massive amount of BitConnect coins in their wallets and they are not selling them. They’re holding them. And they are hoping that in the future, in 129 days or 239 days, whatever the loan terms are, they are banking on the fact that the price of BitConnect is going to be higher and the price of BitCoin is going to be higher. And so the two are tied together; they are pegged together.
07:57 How Long Will Bitconnect Last
People that buy BitConnect coins first have to buy BitCoin. And so they buy BitCoin and they lend to BitConnect coins. They lend those BitConnect coins back to BitConnect and BitConnect holds those for certain amount of time. This ensures that the price stays relatively constant. And it is actually a very smart business model. I don’t know how long it will last, I don’t know if it will last forever or not but I think it is worthwhile to invest at least a small amount of money to try to out myself, to experience what the platform is, to learn about the platform. So that the next time a platform like this comes up, I know what to look for. I know how to look out for scams, I know how to avoid scams. I know what to look for in terms of what it would profit margin is, what’s too good to be true so forth and so on. I think BitConnect is a pretty good standard to follow. They have been around the longest. There are a lot of other ones like bit petite and other ones that have actually gone bankrupt and gone away, BitConnect has been around the longest. It has the most users, it is the most popular and so forth and so on. See if anything it is going to last at least a year, if not two years or longer.
And I think it could potentially last a lot longer depending on how things go in the BitCoin community. See if you have faith in BitCoin itself and you have confidence that the value of BitCoin is going to continue to go up, you should similarly have confidence that BitConnect will go up as well because the two are pegged together. Hopefully that makes sense to you but this is why I am not believing of the anti-marketing hype out there that BitConnect is just a scam and a Ponzi scheme. There are definitely facets of BitConnect that look to be a little questionable if you will but the program has worked for thousands and thousands of people and I just had to get in and tried myself which is why I made a loan just a few days ago to try BitConnect out.
09:42 Will I Continue To Reinvest In Bitconnect
If in several weeks, it goes well and I’m feeling comfortable, I’m seeing profits come in, I am able to reinvest, I’m able to start growing my team and so forth, I may actually drop a significant amount of money back into to BitConnect. I’m thinking about $10,000. Not quite sure, I haven’t done that yet. I would love your feedback. If you guys have ever been scammed by BitConnect, if you have ever used BitConnect and had a positive experience please let me know. Because I had all these people coming in to my channel and saying BitConnect is a scam when they have no idea and they have never actually used the platform. Go use the platform. Go sign up for it. There is a link at the bottom of my video. You can sign up for that if you want. You will join my team if you click on that link but I would love to know your experience if you have used it, has it worked out for you. Do you think it is going to be around forever? Do you think BitConnect is going to last our go bankrupt in the next year.
10:32 How Much Will I Earn On The $1030 Investment In Bitconnect
So I am pretty pumped on day 2 of my BitConnect to journey. Again I got six dollars in my lending wallet. I just placed my loan yesterday for thousand dollars. If I look at this and if I were to get six dollars or 0.58% interest every day, how much would actually have. Let’s go back over here and let’s go to the calculator, let’s go to the volatility software real quick. So my principal, I put in $1030. On average if I see a 0.99% return for 239 days which is a term that I’m in for the capital that I put in, I was see a total of 260% return on my investment. $1030 and I was see by the end of my loan a profit of $2683, in total $3713. And that’s not including a reinvestment of my friends every time I get that daily interest. If I reinvest that these numbers are going to be a bit higher. So even if I were to make six dollars a day, $6×239, that’s $1400. But I’m projecting I will make a little bit more than that because the 0.99% average is a little low, it should be a little higher than that. And by the end of the month I’m going to make at least $180 or $200. So I can reinvest that.
Anyway hopefully this has been helpful for you guys. Hopefully this all makes sense. If it doesn’t let me know by leaving comments. I am Dan from cryptocamacho.com. I would love to know your thoughts and don’t forget to subscribe to my YouTube channel. See you guys.
