It is clear that many people who invested in the lending platform "Bitconnect" took quite a hit recently.
Here are some of your options moving forward:
Consider it lost, let it go, move on, learn the lesson
Move your BCC to a third party exchange like HitBTC and sell at a 90% loss
Use the BCC exchange and current volatility of the price to make gains at great risk
Stake your BCC in the QT Wallet
Just Hodl the BCC on the website
Wait for Bitconnect X to Launch* then move your BCC to the new exchange and hope for the best
Wait for the price to recover on the BCC exchange
Pursue Legal Action
Report the Losses on your taxes
Buy more BCC while the price is cheap and there is panic selling
*This applies mostly to US Citizens who cannot participate in the ICO and get the $150 valuation for BCC
This is a horrible situation for those involved and it can be an emotional time dealing with losses but please never make a financial decision based on emotions, try to keep a level head and make a choice that works best for your situation.
Would love to hear your thoughts and comments on the situation
How are you handling your situation?
- James Miller