For any steambots or folks out there that wants to down vote this. I'm have not included my referral link or a link to Bitconnect in the article. The whole point of this blog is to long my experiences.
It's been almost a week since I deposited $490 in Bitcoin. Since then I have deposited $1980 and another $1000. While that seems like a lot please note that I was an early adopter of Bitcoin back in 2013 so my actually costs deposit is significantly low. I purchased Bitcoin at way under $100 back then.
Here's what my account currently looks like.
Here's what my lending wallet started out with this week.
I did transfer $27 to my own Bitcoin wallet (one under my control, not under an exchange) just to make sure I can successfully convert my earnings.
After that I continued to reinvest the interest earned.
This week has actually been exceptionally good week for interest and not one I would expect on a regular basis.
My initial Bitcoin investment was $3470.00. So far I have gained $137.33. Out of that I have reinvested $110 and transferred $27.00 to my Bitcoin wallet.
While it was a good week for me, I personally don't think this is sustainable. They are making money via the volatility of the Bitcoin/Cryptocurrency markets. I do believe it will remain volatile but as more folks adopt cryptocurrencies that volatility will decrease.
If all the friends and family asking me how to get into Bitcoin is an indicator, I think we will see great adoption in the next 2 years which will decrease volatility as more Bitcoin will be in the hands of everyday users and not investors and speculators.
In my opinion services/programs like Bitconnect have a short life span. I'm willing to go for the ride since I have very little to risk. I could be wrong and part of me hopes I am (the recurring interest is such a lucrative though) but I highly doubt it.