Bitconnect: The Wannabe Bitcoin Ponzi Scheme | Multi Level Mondays
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BitConnect - A Ponzi Scheme or a Pyramid Scheme?
BitConnect offered returns that were far too good to be true. Their business model is a little tricky to explain because not only was BitConnect a Ponzi scheme, but other sources call them a pyramid scheme as well. If you invested $10,000 or more, they claimed that you would get a daily interest rate of 0.25%, which is a 91.25% guaranteed return per year. There is no legitimate business on earth that will be able to pay this interest rate to its customers risk-free, plus up to another 480%. there is also no trading bot that can guarantee profits.
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