So Im invested into Bitconnect on a 239 term. I put $1,100 USD. If all goes well I'll earn roughly 1% per day, which compounded is about $10,000 USD, but is there a better way?
Bitconnect Staking Rewards:
Bitconnect will also pay staking rewards for anyone who stores BCC in the BCC wallet for greater than 15 days. The reward is currently 8% monthly but in January goes down to 7%. 7% a month for 239 days (8 months) is roughly 56% return. Also while you hold the tokens they have historically rocketed up in value and now Im torn.
I currently do both, but which is the better investment?
Historical Growth: Stake vs Invest
299 days ago, the time length of an investment loan through Bitconnect for any amount less than $1,000, BCC traded for roughly 0.16 USD while today it trades over $210!
Therefore, 299 days ago $1,000 would have bought you 6250 BCC, which today would sell for over $1,300,000 USD. If you held those tokens and staked the entire time... Wow.
But also, because you would have had about 10% staking rewards per month back from January 2017 till June 2017, those 6250, would have become nearly double the tokens and over 2 million dollars!
On the other hand if I invested $1,000 USD 299 days ago and reinvested all interest earned I would have claimed somewhere near $17,000 by the end. Not bad but clearly worse than staking.
Conclusion:
So staking for 299 days has historically been the best investment however what about today?
What could BCC possibly be worth in 299 more days? Ten times? $2,000 USD? I cant see how, but then again the system keeps paying, so people keep wanting in, and therefore Im very bullish on BCC.
Regardless of projected token value in 299 more days, I guess the question is whether staking rewards combined with token appreciation will likely outweigh 1% daily interest? And for that question I would say, I think very likely yes.
What do you think? Do you stake? Do you invest? Do you like Bitconnect, or hate it?
As always, up-vote, comment, follow and stay tuned.
Hey! I'm a Crypto newbie. I've been doing my due diligence since September. I Just discovered Bitconnect and thinking seriously going to get into it. I would appreciate any advice for other opportunities. Thank you for the article.
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