Is EthConnect another ponzi scheme?

EthConnect is one of the digital currencies that are based on the Ethereum blockchain. It aims to lend to its members. The EthConnect ICO started on 1st November 2017. It will be similar to Bitconnect. The company promises more than 50% of returns per month by giving loans through the platform. Users are only required to purchase tokens which are in turn used by the platform to provide loans to other members. EthConnect promises to offer token holders more investment opportunities in the coming days. You can trade your EthConnect, mine or stake it. But you can also make good money through referrals.

But is EthConnect a scam? Todays post is from the team at NoBsImReviews.com who will be sharing their honest view on EthConnect. You can also check out their full EthConnect review here and get all the details on EthConnect as well as other similar opportunities like BitConnect.

Ethconnect has become so popular recently, but most people do not have a clear what it is all about. We want to establish whether the claims made by the currency are genuine or false. Is EthConnect another ponzi scheme? This article will offer information that will attempt to answer this question that has not been tackled effectively by another article. We will show you how the platform works and advise users on investing in this cryptocurrency.

EthConnect Currency

Ethconnect plans to release more than 30 million coins around the world. The company has dealt with several users and has spotted two problems when transacting with them. Fraud being on the top of the list. But EthConnect is looking for fraud detection methods. Handling of record is another issue that the company is looking forward to solving within the shortest time possible.

EthConnect’s Smart Contract

EthConnect has developed this form of a contract to allow two users to complete a deal without involving third parties. The final transactions become public, but the names of users who carried out the transaction remain private.

EthConnect’s Security measures

Most people tend to question about their safety since the company is not regulated by any government. But the company uses blockchain database and technology that keeps all the transactions of users updated securely on their servers. This makes sure that nobody can carry out fraud by hacking the computer of users because the information is secured in the servers.

Ethconnect provides a platform where you can make good returns by lending money to other online users.

There are various investment portfolios which users can select from.

These include the following:

EthConnect Trading – This is one investment option provided by this platform but is not more profitable than lending. However, it can offer stable returns to users.

EthConnect Stacking – This is where users earn interest by acquiring EthConnect coins. It can help users to earn good revenue without them closely monitoring the transactions.

Ethconnect Mining – Users are allowed to mine using the EthConnect coins.

Is EthConnect another ponzi scheme?

Honestly, there is no doubt that EthConnect is another ponzi scheme. This means that it bound to collapse soon and that is why I cannot recommend anyone to risk investing in it. It may be another cryptocurrency Bitpetite.

My honest observation is that EthConnect will help earn good returns for a short period but ultimately it will collapse in the long run.

If you do not want to lose money to a ponzi scheme, then avoid investing in EthConnect.

EthConnect is a ponzi scheme and an outright scam. This is because this cryptocurrency has all the characteristics of a ponzi scheme. This cryptocurrency does not offer services or products on its lending platform. There is no technical information about the platform that is available online. There is no information about who has developed this platform. EthConnect is another pyramid scheme that users should avoid at all costs. This currency is not designed to solve any problem in the world today.

It mainly focuses on promising users about money guaranteeing results. There is no history of the members who are behind this platform. It involves a referral program and MLM scheme where users have lost their money in the past. It does not have a sustainable business model and thus cannot be reliable. EthConnect does not have whitepaper at all. It does not have new technology, and this makes it simply a ponzi scheme. Therefore, EthConnect is a useless cryptocurrency that is bound to collapse anytime soon. This article will help cryptocurrency investor make wise investment decisions while protecting from losing money to ponzi schemes.

Thanks for checking out this review of EthConnect by NoBsImReviews.com – Check out their blog to see more reviews of other opportunities.

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Cryptocurrency Trading In 2017 & Beyond

The recent technological advancement and increased access to the internet have revolutionized how people communicate, interact and do business. With an estimated 47% of the global population using the internet, the internet has become part of our day to day activity. The increased growth in the internet usage has enhanced online trading giving rise to cryptocurrency. Cryptocurrency can be defined as digital money that uses cryptography. See wikipedia definition of Cryptocurrency here.

Cryptography is a process of turning understandable information into a code which is hard to crack and it is used to track purchases and transfers. The first cryptocurrency to be introduced was bitcoin and was established in 2009. However, other cryptocurrencies have been established since then and as more and more people continue to embrace the use of the internet for trading, cryptocurrencies are increasingly becoming popular and their value has increased immensely.

Crypto Currency Trading history

Ever since the inception of cryptocurrency, the value has been rising steadily hence attracting more investors from all over the world. For example, in March 2010, one bitcoin was worth $0.003. In July 2011, the value of bitcoin had appreciated up to $31. However, in December 2011, bitcoin value went down to $2. From that time bitcoin appreciation stabilized up to a high of $1,150 in January 2017. A similar trend can also be observed for other cryptocurrencies though bitcoin values are quite high value.

Factors affecting cryptocurrency value

As the world becomes comfortable with technology, the number of people opting for cryptocurrencies has tremendously increased. Bitcoin oneof the most popular type of cryptocurrency has hit the all-time high in November 2017. Currently, 1-bitcoin is worth $7300 and its value is expected to increase as time goes by. Those people who had invested in bitcoin initially have made a killing out of the appreciated value of cryptocurrencies. But before making a decision to invest in cryptocurrencies, it important to consider the factors that have resulted in the increased value of cryptocurrencies. Some of the factors influencing cryptocurrencies the value in 2017 include:

News Trends

In 2017, news about cryptocurrencies appreciation in value has gone wild over the mainstream media as well as the social media. With so many people out there going to test cryptocurrency, its value has skyrocketed as a result of increased publicity for instance, the ransomware wanacry’ made bitcoin even more popular since it demanded payments using bitcoins. There so many references on the internet with information about crypto currency. Availability of information online has also made most people to develop trust with crypto currency by countering original myths about crypto currencies.

Demand

In an economy, when the demand is higher than the supply, the price tends to go high. One of the main reasons why the value of the crypto currency has shot over the last few years as a result of increased demand. After seeing the trends in cryptocurrency values, most people have decided to give it a hand resulting in increased value. The decrease in demand can also result in fluctuations in prices of various cryptocurrencies.

Government policy

One of the major factors influencing the prices of cryptocurrencies is the government policies. Initially, after the inception of cryptocurrency, most governments were against it, as a result of the numerous uncertainties that accompanied the invention. However, as time goes by, most countries have appreciated the innovation of cryptocurrencies resulting in an increase in demand of the digital currency. In 2017, the ban on cryptocurrency by the Russian government and the endorsement of the same by the UK government has had an impact on the trading of cryptocurrencies. Additionally, when the IMF releases its reports on cryptocurrencies, the prices are expected to adjust accordingly.

Technology

Technology is one of the underlying factors affecting cryptocurrency prices across the globe. Blockchain which is the underlying technology supporting cryptocurrencies has come under scrutiny from technology leaders and finance experts. This is because the technology has a block size limitation which makes cryptocurrencies more expensive to transact with. This will have a significant effect on the prices of cryptocurrencies in coming days.

Governance

Governance is closely intertwined with the technology that supports cryptocurrencies which is the blockchain. If the technology is reviewed to reduce the block size in cryptocurrency trading, then the value of cryptocurrencies will move up. Other governance issues such as legalization are also expected to affect the value of blockchain.

Conclusion

With other factors such as competition expected to affects the price of cryptocurrencies, it’s important to look keenly at the above factors when buying cryptocurrencies. In addition, if you are planning to invest in cryptocurrency, check the most stable brand and the one with the most potential to grow.

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