So far today the huge hype that I am seeing nearly everywhere is called ETHConnect (ECH) which is a new ICO (Initial Coin Offering) that is going live on sale on November 1st. Depending on when you are reading this the ETHConnect ICO might already be over and it might be trading on an exchange and many multiples of its current price of $0.50 or the team behind it could have done a hit and run with everyone’s Bitcoin and Ethereum. My ETH Connect review is here to give you my opinion on the ICO, idea and their overall platform.
RESULTS FROM MY ETHCONNECT REVIEW?
Here is my understanding after digging deep into the ETH Connect ICO and going through their website. They are looking to be the Bitconnect of the Ethereum world, Bitconnect has been a highly successful lending platform that has made a lot of people a lot of money over the last year with their coin going from a few cent in the ICO last year to $200 now which is crazy gains for people who got in early. There are still claims that Bitconnect is a scam but no one can deny that they are currently holding very strong and have lived up to everything they said they would do.
WHAT DOES ETHCONNECT OFFER?
Once ETHCONNECT goes live after the ICO they will offer 4 main ways for you to earn money.
How much Does ETHCONNECT Coin Cost?
During the ICO the price of the coin is going to start at $0.50 and if you get in the first hour you can get a bonus of 15% which will give you the coins slightly cheaper. With the amount of buzz about this coin, I think it will sell out in the first few days and not last the full length of the planned ICO which is the 30th of November. Below is an image that shows the planned price of the coin as it sells throughout the ICO.
I myself will be investing into the EthConnect ICO as I don’t think that this is a scam. The developers are hiding their identity similar to Bitconnect as they are running a scheme that might be seen as illegal by some parties. Making sure you invest early is the key to making money with these and they can be extremely lucrative. If you invest too late then you can potentially lose your money so make sure you invest early.
If you want to research Ethconnect and see what they’re offering then look at their website here:
A Website Rundown of EthConnect
On first glance the website looks like a professionally designed business website. The design is sleek and flows well throughout. On the homepage we see some important information.
First, you are given a description of how EthConnect works and what you can do with the token. EthConnect is compared to Ethereum and will only release 31million tokens. These coins will grow in value as the currency is deflationary.
After seeing the explanation on EthConnect its uses are then listed below. There are 3 main uses of the coin.
- Trading — Starting in December you can trade the EthConnect token on the EthConnect exchange.
- Lending — At the start of December you will be able to start lending your tokens. You can do this by depositing cryptocurrency into your wallet, and then lock them away in the EthConnect system. These cryptocurrencies will then be used by a trading bot to make 1–1.5% gains per day. You will then be paid dividends daily.
- Staking — You can stake your coins so facilitate transactions and improve the security of the network, this will also gain you a % on your EthConnect tokens however it won’t be substantial gains that you’d see with the lending.
The next section will focus on the ICO period. The ICO begins on November 1st. The ICO will be for 8million coins. The ICO will finish at the end of November, however, as with most coins in the “lending” world, they tend to sell out after a day or two.
The ICO price will be 0.50 cents per coin. They will be accepting Ethereum and Bitcoin. Bonuses of up to 15% will be supplied depending on if you make it into the ICO within the first million tokens or the last 8 million.
How much will the coin be worth when it hits the exchanges?
This is impossible to tell. I know that they give targets of $20, $30 and even up to $200 per coin next year but in reality, no one knows and that is a reason that this is a gamble. We have seen coins do it in the past and if ETH connect can do it then that would be incredible but don’t go betting your house or your bill money on it. The fact that the domain was only purchased in Sept is a concern but it is registered for 5 years now, we are also not told who the team behind the system is but that was also the case with Bitconnect so e just need to sit back and watch from the sidelines or take a leap of faith and have a punt.
EthConnect is similar to a previous coin that we all know: Bitconnect. Although they are similar, EthConnect seems to have additional features and is looking to be even bigger than Bitconnect. Both have the same strategy, you deposit money into their lending system and they will then use trading bots to make 1–1.5% profit per day and then pay this back to users in the form of dividends.
The truth at this very easy stage is that is it hard to tell. We have seen platforms very similar to this like Bitconnect and RegalCoin do extremely well and make people a lot of money so ETHconnect definitely does have a market and potential to make people a lot of money. Right now I would class this as high risk but also very highly profitable if they pull it off and that is why I will be buying some.
With everything in crypto, you are taking a risk. The risk to reward profile on EthConnect looks good and I am satisfied that they are unlikely to scam. You can safely invest into the ICO or even into the platform and the EthConnect token should be a great way to make large sums of money.