10 Things We Know About The Collapse of BitConnect Lending

Last updated on April 17th, 2024 at 09:27 am

Advertisements

BitConnect stopped their Lending and Exchange Service and converted their user’s outstanding loans into BCC Coins.

The action led to a large panic sale. BCC Coin fell in value, from $363 to $9, meanwhile, it was already $ 20+ but later slipped to $18.43USD, representing 88.90% crash, and at the time of updating this post, it is US$0.0000000000217, according to crypto.com

So far, here are the 10 Facts About BitConnect Future

Advertisements

1) BitConnect does not stop. Only their Lending Program & their Exchange does.

2) The BitConnect accounts remain. You can now use these for the online wallets. They also continue with their Cryptocurrency Education.

3) The QT Wallet and the service are also retained. QT Wallet can be downloaded at bitconnectcoin.co

4) Currently they recommend saving your BCC Coins. You can save these on the BitConnect online wallet as well as the desktop QT Wallet.

5) BitConnect continues with their PoS. M.a.w. you can still get a monthly % because you have left coins on the QT Wallet.

6) Unexpected setbacks (DDOS attacks) & outside pressure (seize & desist USA states) made BitConnect a step back.

7) BitConnect has kept track of who has made a profit with their Lending & who is not. People are now looking to compensate everyone for this. This is a process that can take 2 to 4 months.
8 ) It is still the intention of BitConnect to have a large & strong Community. Despite the recent setbacks.

Also Read:  15 Types of Crypto Scams During Bitcoin Boom

9) BCCX ICO is their new priority now. This exchange will go online in early March. They will also use the profits to compensate existing members.

10) There will be a blocking period of a few days from January 18, 2018 in which you can use your BCC Coins at a value of $ 150 to support the BCCX ICO. This will take a 5 -10 days.

This message will probably be updated a few times according to the information that BitConnect communicates on their website.

As the last check, its Google Ads either by the company or one of its heavyweights promoters still runs on the internet.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll to Top