EthConnect is a new platform that has just arisen in the Crypto World.
With each passing day, it is gaining more and more popularity, but people are still confused, whether to trust it or not. Therefore here is an honest review on EthConnect that will help you judge it and make your decision, to take part in it or not.
To bring you this review I personally looked at the whitepaper for EthConnect and also checked out other blogs giving EthConnect reviews like NoBsImReviews.com
For all those who don’t know what is EthConnect, it is a cryptocurrency platform that allows P2P transactions. It is a lot like BitConnect, with the only difference being that it is run on Ethereum Blockchain and uses electronic money called Ethereum Token. It is a platform that provides its users to buy tokens and stake them, which later yields to a multiplied return. Thus allowing you to earn a lot of money in a very less time.
Ethconnect claims of providing a number of ways to earn money using it. They are by investing in it, by mining, by staking, by trading, by simply loaning and lastly by referral. Though when considered thoroughly by referral is the best and the most effective way. Just like BitConnect’s pyramid scheme, here too there is a referral system, which has 5 different levels. Now, when your referral person joins you earn 8 percent with every join.
While the referral might seem the only exact method, there are other methods as well as staking. On the website it is mentioned that up to 52 percent can be earned by staking, but the details for the same are not given properly, it is too vague to understand and utilize.
Amongst all these, the good thing about EthConnect is that it keeps the user anonymous. The privacy is maintained until you decide to disclose your name. All the financial transactions are properly recorded and tracked using blockchain, but the user’s identity remains safe, till they themselves reveal it to the others. Using of nickname is what works here.
Investment Scheme and Packages
EthConnect also offers an investment scheme where an interest rate of 45% is provided to the investors who lend them money. Sounds bizarre, but they actually have various investment plans for the investors starting from $100 and ranging up to $100,000. The interests to the loan will be paid in the user’s wallet, and the time taken to return the original investment amount depends on the lent amount. For instance, the highest plan lets the amount to be returned to the user by 89 days while for the smallest amount it is 179 days. Basically, the return policy is the inversely proportional case.
The four basic investment packages are mentioned below:
$100 to $1,000 for which the return of interest (ROI) is 45% per month.
$1,010 to $5,000 for which the ROI is 45% per month + 0.10% per day.
$5,010 to $10,000 for which the ROI is 45% per month + 0.20% per day.
$10,010 to $100,000 for which the ROI is 45% per month + 0.25% per day.
The plan seems impressive, though how much effective it is, is really doubtful. But the structure does show their aim of making money on the basis of a pyramid scheme.
It is not just a platform to lend money the users will get other opportunities as well to make money by trading, staking, mining and even by investing.
The demand in the market for such platforms is high. Therefore with each passing day, it is gaining popularity and people are getting interested in it as well. There are not many platforms as such to make money, and if it proves reliable then it can be a stable source.
The Internet is a well-known place for promoting and for creating hype, and EthConnect has got hyped. All those who had missed their chance of joining BitConnet and regret knowing about it later, are using this opportunity and joining the league.
The data is not very clear, rather it is vague, what is provided on their website doesn’t match with what is sourced in the whitepaper.
In their roadmap, they have a set target beside each milestone which makes it look less professional for such platforms.
The team is anonymous. Only a link to a Tokyo address is present and nothing else. Therefore trusting it can be a bit difficult.
While doing an EthConnect opportunity review, it is quite hard to tell whether it is a legit platform or another scam? But, one thing is to ascertain that if it proves to be a legit platform, then it can help people in earning a lot. Therefore, if you want to invest, do it at your own risk.
New ICO’s launch every week and it’s difficult to know which ones are legitimate and which are ones that you need to avoid. A website I like is thetokeninvestor.com check out the Token Investor here to see ICO reviews.