10 Things We Know From Collapse of BitConnect Lending

As you already know, BitConnect has stopped their Lending and Exchange Service, and they’ve already converted the people’s outstanding loans into BCC Coins.

As a result of BitConnect ending its lending and exchange, a large Panic Sell was happening at the time of publishing this article and the BCC Coin has fallen enormously in value, from $ 363 to $ 9, meanwhile it is already $ 20+ but later slipped to $18.43USD, representing 88.90% in the last 24 hours at the time of publishing (22:26), January, 17, 2018.

So far, here are the 10 Facts About BitConnect Future

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.

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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.

Which other bitcoin lending platform do you know that has the same business model as bitconnect? Share your thoughts


  • Opeyemi Quadri

    Ope is a finance writer and researcher with 10+ years of experience in content creation. His interests cut across investment, foreign exchange, government policies and politics. Ope is available on Twitter @OpeQuadri.

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