Days 3-10 Daily Interest Rates, First Reinvest, My Thoughts On BitConnect After 10 Days

Below are my daily interests received since Day 3 to Day 10:

Day 3: $0.676 @ 0.52%
Day 4: $1.664 @ 1.28%
Day 5: $1.56 @ 1.20%
Day 6: $0.624 @ 0.48%
Day 7: $0.052 @ 0.04%
Day 8: $1.261 @ 0.97%
Day 9: $0.065 @ 0.05%
Day 10: $1.183 @ 0.91%
Total in lending wallet, before reinvesting: $10.777
Avg. % Interest: 0.829%

Let's talk about reinvesting on BitConnect, and how it's done. With whatever amount you initially invested into the BitConnect platform, you receive daily interest from that, which is then deposited into your lending wallet. When your lending wallet collects more than $10 worth of interest, you have the option to reinvest into the platform in increments of 10. If you choose this route with your accumulated interest, your reinvestment amount will be treated as a separate loan to the trading bot. Doing so will give you interest separately from your initial investment's interest, but its daily % rate and lending wallet will be the same. This all leads to compound interest, or increasing your interest payout over time. Not only will this yield higher profits at the end of our scheduled loan in a shorter amount of time, but this can slowly reduce the days to wait in between reinvest on BitConnect.

My Thoughts On BitConnect After 10 Days

Okay let's be clear, 10 days isn't enough time to review a thing like BitConnect. What I can say is that after receiving my daily interests that are in line with their given percentage rates (and cross-checked with my handy calculator), BitConnect is being consistent with their payouts, but claims of around 1% daily interest seems a bit far. (At least for my first days on the platform.) Their lending wallet can't be converted to fiat currency (at least for now), so cashing out your lending wallet would involve buying BitConnect Coins, trading them with Bitcoin, and selling the Bitcoin at exchanges like Paxful, HitBTC, and Coinbase.

Nonetheless, my goal of this blog and Youtube channel of mine is to keep testing the BitConnect platform and see if they are a true investment to make or a scam.