Episode Highlights:
- 00:25 – What Is Cryptocurrency?
- 01:32 – What Are High Yield Investment Programs?
- 02:02 – High Investment Programs And Ponzi Schemes
- 02:41 – Do High Yield Investment Programs Work?
- 03:08 – Introduction To High Yield Investment Multiple Sites
- 05:11 – Bit Connect…The Most Popular Site…How It Works
- 06:12 – What Is Bit Connect….
- 06:49 – Bit Connect Lending
- 09:12 – About The Volatility Software
- 11:20 – Introduction To Chain Group
- 11:47 – How Does Chain Group Work?
- 12:31 – What Is A Trade Group?
- 14: 14 – Frequently Asked Questions
Grow your cryptocurrency investments with personal one-on-one coaching from Crypto Camacho. Click HERE
Transcription:
Hey guys its Dan again from CryptoCamacho.com where each day I teach you something about cryptocurrency. We talk about trading we talk about tools and resources but ultimately we talk about how to make money in the cryptocurrency space. This space is exploding and I want to be at the forefront of it.
I’ve been investing trading buying and selling Bitcoin and other altcoins for about a year now and I am getting in deeper and deeper every single day.
00:25 What Is Cryptocurrency?
And every single day something new and something exciting is coming out it’s crazy, this this new marketplace if you will this new disruptive technology is creating a plethora of new opportunities for everybody I encounter and it’s fascinating because everybody I know or a lot of people I know they don’t even know what cryptocurrency is.
I mean they’ve probably heard the buzzword Bitcoin, they’ve heard a couple words here and there but they don’t really know what cryptocurrency is all about. What’s happening in this space and how it’s going to disrupt everything around them virtually every industry is going to be affected touched or disrupted by cryptocurrency.
So today I didn’t want to go on a monologue about cryptocurrency but I did want to share something with you and I want to start exploring something new for me that I think you guys might find interesting. So you guys have probably heard you probably seen videos maybe you’ve seen it on the internet somewhere, you heard about bit connect you heard maybe about bippity you’ve heard about these other programs or Bitcoin lending programs that guarantee extremely high returns for lending Bitcoin. And those are called high-yield investment programs.
01:32 What Are High Yield Investment Programs?
And what that basically means is that you’re able to lend Bitcoin, you’re able any theorem or other crypto currencies and then get back a return on your investment at a very very high rate. So let’s let’s really quickly define what a high-yield investment program is, let’s go over to Wikipedia and a high-yield investment program. The way wikipedia defines it is a high-yield investment program a hype is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with money invested by new investors.
02:02 High Investment Programs And Ponzi Schemes
Wow so when I immediately read this I think of Bernie Sanders, I was going to say I’m thinking of Bernie Sanders no no I think a Bernie Madoff , when I think of high-yield investment programs or Ponzi schemes I think of Bernie Madoff. But this topic is coming up more and more and more in the cryptocurrency space because of websites like bit connect, because of websites like a bit petite and other scams that have really taken control of the cryptocurrency space and the more and more I hear about it the more I learn about it the more I just absolutely have to find out what’s going on in this particular space.
02:41 Do High Yield Investment Programs Work?
Does bit connect work does chain group work another high-yield investment program or hype program right does bit Petite work? Just recently bit petite fore closed. They closed their website they closed their social media accounts and they basically left all investors by the wayside and took all their money and ran and that’s typically what you see in these high-yield investment programs or hype programs but bit connect seems different chain group seems different.
03:08 Introduction To High Yield Investment Multiple Sites
I don’t know I’ve never used either platform. But today in this video is where I want to introduce it to you guys and actually start exploring how these different sites work and ultimately I’m going to invest some money into each of these sites, into multiple of these sites to really find out how they work and to really help you guys understand how they work and really let you know if they’re safe or not.
So first let’s just take a quick look on YouTube when you type in things like bit connect on YouTube you get thousands of videos of people saying they’re making money. Three hundred and two thousand dollars bit connect loans, how long will bit connect last, bit connects swallowed up my money let’s see bit connect loses one billion dollars a week ago. But these are kind of they’re everywhere you could see people making tons of money $78,000 earned on bit connect even when Bitcoin is crashing, so there’s all kinds of hype about bit connect about these high-yield investment programs and one other thing I want to show you is if you search in Google for the best hype 2017 you get a list of websites that claim to have the best performing or best paying hype programs of 2017 and you could go through and look at these on your own and just search best hype 2017 I pulled up a couple of these and you can kind of look at what they’re doing.
So on some of these sites they show you the name of the company, they show you if they’re paying or not, they show you the ROI the minimum investment and the actual return and you could go through and kind of look at all of these chain groups and their bit connects and some of the common ones and these are popping up all the time, new ones are coming up all the time and old ones are basically going out of business every day. Another site saying bit waves laser I’ve heard of a lot of these chain group and just the last one FX headway.
There’s so many of these things that it’s kind of like where do you start and how do you actually navigate through this stuff and the thing that I find pretty interesting is the ones that are the most popular.
05:11 Bit Connect…The Most Popular Site…How It Works
So bit connect is by far the most popular hype program out there today and the way bit connect really works is that you lend Bitcoin to other people that want to acquire crypto currencies and then you get a certain percentage of interest every day from bit connect. And then you could compound that interest more and more and more and then you could also get referrals so that people underneath you who come and sign up to bit connect and start lending cryptocurrency or lending Bitcoin you then get a percentage of their profits as well.
05:49 Can You Make Money On Bit Connect?
And you could kind of see how this thing grows and grows and grows and grows and snowballs out of control I mean so that’s all fine and well but can you make money with these programs can you make money on bit connect and not only can you make money but is it sustainable how long is this going to last and I’m fairly convinced that you can make money in the short term on this.
06:05 Investing In Bit Connect Long Term
Which is why I’m looking to explore it I’m looking to invest in something like a bit connect but in the long term how can you get your money back.
06:12 What Is Bit Connect….
So let’stake a quick look at how bit connect works right here’s their website and you can invest you could trade there’s a whole lot you can do on bit connect and let’s just read okay. What is bit connect? Bit connect is a self-regulated financial system they connect as an open source all in one Bitcoin and cryptocurrency community platform designed to provide multiple investment opportunities with cryptocurrency education where it is entirely possible to find the independence we all desire in a community of like-minded freedom-loving inlike you. Wow that sounds like me, I want to find the freedom that I’m searching for, I want to be financially independent, financially secure, never have to worry about money again.
06:49 Bit Connect Lending
Great glad I found bit connect so there’s a lot you could do on bit connect but what I’m really really interested in is lending I’m interested in the bit connect lending piece of this. So I’m going to go up to BCC lending right here and I’m just going to look at how it works right they have a little calculator here you can look at and you can look at from Bitcoin to US dollars what’s it worth so one Bitcoin is $7,290 today you can go ahead and play with this. And this kind of again just kind of breaks down how the lending process works you deposit Bitcoin and then you’re given a Bitcoin deposit address you then buy bit connect coin from BCC exchange you then lend your BCC on a dashboard and then you earn daily profits as the volatility software turns interest.
So what bit connect claims is that they have this bot this volatility software as they call it and using this software is what gives them the ability to pay out such high returns to people that lend money or invest money into this bit connect platform and so this volatility software that they’re talking about supposedly goes out and it goes to the cryptocurrency exchanges and it invests Bitcoin and it makes profits to where they can pay back their users so that’s really how it works.
Let’s look a little bit closer right you can invest your bit connect coin in bit connect lending platform exclusively from Bit connect match board blah blahblah let’s take a look at that you will receive daily profit based on your investment option upon investment term completion.
You will receive your capital back so if we look at this little chart here you can invest you know anywhere from a hundred to a hundred thousand dollars and you get your capital back after you know certain amounts of time depending on how much you invest. So I think I will start off fairly small. I’m not going to dump a hundred grand into this program quite yet but I do also want to put enough money into it so that I know how much I get back. So I’m going to I think start with a small amount.
We’ll get to that in a moment here but then this is really outlining the process and how it works deposit your bitcoins buy bitcoin from BCC then lend your bit connect coin on the exchange and then earn profits earn revenues. So one last thing I want to show you is the volatility software.
09:12 About The Volatility Software
Let’s go quickly to the volatility software and this basically shows the last five days interests that people have received if they’ve invested by a certain time. So okay if you invested on November 11 12 13 14 you’ll see here’s the percentages that you’ll be locked in at in the percentages that you’ll be making in the program and this is kind of how it explains how you’ll be investing in the profit you’ll get. So let’s just say I invest $1,000 whoops, yes a $1000 and let’s say my radar return is 0.9 5% which was on basically the 12th and let’s just say the term length is 200 days that’s calculated, so in 200 days I will make 100, I’m sorry $1,900 I will get my principal back and I’ll effectively make 190 percent return on my investment that sounds fantastic. After what 200 days it sounds fantastic, so but it sounds also a little too good to be true.
So let’s see if it really is true and one thing that is interesting to me is that every single day here you’re seeingpretty high interest but on tomorrow you’re seeing interest of only 0.48% so this is each day what the actual rate of payout is based on your investment that you get so every day you invest you’re going to get a percentage. And this is just calculating and showing you the average rate of return each day in the last five days. So this is the interest chart over time right for a month so in a month you know here’s the one day you got at 1.73 percent another day you got .04 percent so it just really depends on the day. And they claim that the more fluctuation Bitcoin has the more volatility Bitcoin has, the more money the more interest you’ll actually make on a daily basis.
So that’s really how bit connect works so that was just a quick introduction a bit connect.
11:20 Introduction To Chain Group
Let’s quickly jump over to another hype program called chain group. Chain group is very new. I’ve only heard about it in the last week and I heard about it because bit petite, I was actually getting close to investing in bit petite and then literally the next day they foreclosed and the business went out of business. So very glad I didn’t put any money into Bit petite. But it led me to chain group because now everybody’s promoting chain group, everybody’s starting to promote chain group.
11:47 How Does Chain Group Work?
Chain group great and I you know wanted to check how it worked. So chain group works similarly to bit connect it’s a little bit less established. Their payouts seem to be higher but again I haven’t tested it and looking to do so in a series of videos that I’ll be making from here on out. So chain group how about making money trading cryptocurrency great that sounds fantastic but do you try it yourself?
No a chain group those who want to make money on crypto currency exchanges meet those that are good so then you can watch their video on how it actually works and then it shows you how to start of course you need to open an account you need to load your funds so deposit whatever you want you select a particular group to invest in which we’ll look at in a minute you’ll make a deposit to that particular trade group and then you’ll earn money and interest every day you’ll own in Bitcoin as with a lot of these programs or most of these programs.
12:31 What Is A Trade Group?
But let’s really quickly let’s go over to a trade group and see what a trade group is that we want to invest in ok so there are on chain group there are a variety of different trade groups that you could invest in and this basically means where do you want to put your money?
You want to invest in Dragon foundation, you want to invest in X but there’s a variety of different groups you could invest in and the rate of return is different for each one of those so let’s just look at the first one. And dragon foundation it’s been in service since July 1st 138 days it has 11 thousand investors and it has $350,000 in a stabilized fund the minimum investment is ten maximum is 500k and the deposit term is 180 days and then there’s daily profit similar to bit connect compounding is impossible which on bit connect is possible so that’s actually the advantage to Bit Connect but we’ll show you the daily interest of that you will get okay let’s go down to another one X spot. Okay so this one’s been around for 61 days they don’t have quite as much money the Raider returns just as good but you can see as you go through these you could actually pick and choose which investment groups you want to participate in.
Some of them you may want to invest in one that’s been around a lot longer such as Dragon Foundation’s or you may want to try one that’s brand new thinking I was going to be around for a while and you could do that as well so you can really kind of determine what your strategy is and what group you want to participate in on this site.
Chain group is probably the longest trade group around it’s been around for almost actually it’s been around for yeah just about a year. It’s got 700 investors 20k stable it’s been around for a while but again I haven’t tested this out but it’s something that I do want to participate in.
14: 14 Frequently Asked Questions
So anyway so that’s an introduction to these things let’s go quickly and look over at the FAQ just to see what we can do. Do you offer several investment plans, no one investment plan that they invest in a cross. Can you earn for referrals? Yes okay so all these things you guys can go through the epic use and look yourself but okay so what I what I just really wanted to get from this and give you guys from this is really an introduction to these types of platforms again they’re called high-yield investment programs or hypes.
I’m going to be looking at specifically bit connect and I’m going to be specifically looking at chain group over the next several months I’ll be making several videos about these two websites. I’ll be making several videos about my experience with them how much I’ll end with them how much interest I’m making on a day to day basis if you’re interested in joining my team
I’m going to start a bit connect team and a chain group team very soon if you’re interested in joining my team click on the link below this video and go ahead and sign up I’m looking to build out my team to multiple thousands of people to really see if this is a viable investment platform, a viable way to make money online and just what the potential actually is. So I’d really love it if you do join my group I don’t have anybody in my group yet, so I’d love it if you were the first one but until then some videos I’ll make I’ll show you exactly how to sign up for bit connect and chain groom probably separately and then I’ll actually deposit some money and show you exactly how that works as well let me know if you guys have invested a bit connect if you’re using it today or if you’re using hype programs would love to know and I’d love to see how it’s working out for you.
Anyway I’m Dan again from Crypto Camacho subscribe to my youtube channel and I will talk to you guys later later.
