What happened to Bitconnect investors?

What happened to Bitconnect investors?

Bitconnect lending: You can invest BitConnect coin in Bitconnect lending platform exclusively from the BitConnect Dashboard. This investment option involves profiting from Bitconnect trading bot and volatility software. On January 17, 2018, Bitconnect shut down, and BCC prices crashed by 92\% immediately after.

What is the most promising cryptocurrency for the future?

Ethereum remains among the best cryptocurrencies to buy today. With Ethereum’s dominance clocking in at more than 21\%, not only do BTC and ETH account for more than 60\% of the market, but between the two, Ethereum actually became more dominant during the volatile 30 days from Nov. 5 to Dec. 5.

Does Crypto really have a future?

Cryptocurrency’s future outlook is still very much in question. Proponents see limitless potential, while critics see nothing but risk. Professor Grundfest remains a skeptic, but he does concede that there are certain applications where cryptocurrency is a viable solution.

What happened to Bitconnect?

Key Background. BitConnect, which debuted in 2016, closed its primary lending platform in early 2018 after state securities regulators warned investors of the “Ponzi-type nature” of the enterprise.

Was BitConnect a scheme?

The BitConnect scheme is the largest cryptocurrency fraud scheme ever charged criminally. With entry of the court’s interlocutory sale order, the government will begin the process of seeking to make whole victims of the BitConnect scheme by selling the cryptocurrency and holding the proceeds in U.S. dollars.

How long did BitConnect last for?

Where BitConnect Came Crashing Down. BitConnect didn’t last for long, like many other major cryptocurrencies out there today. The company was founded in February of 2016, and, in January of 2018, less than two years after its establishment, Texas State Securities Board issued BitConnect a cease and desist.

Is bitcoin a good investment?

In terms of investing, among cryptocurrencies, Bitcoin is the most stable and least volatile digital currency. Of interest these days, Bitcoin is considered an excellent inflationary hedge. As a commodity, Bitcoin is the most regulated cryptocurrency and the least risky, since Bitcoin’s protocols limit risk.