THIS POST DOES NOT CONSTITUTE ANY FINANCIAL ADVICE. INVESTING ON THE INFORMATION WITHIN THIS POST AT YOUR OWN RISK.
The summer break is almost over, so I decided to write a little confession.
Over the past 3 months I actually managed to double some savings by investing in cryptos. Since I'm very new at this whole cryptofrenzy, I have to say:
Man, It FEELS GOOD! More people should try it :)
During the summer I learned a bit about some new and upcoming ICOs and I even tried to be part of EOS ICO. Unfortunately, I still do not understand how to get those damn tokens in my Etherium wallet. In the meanwhile I stumbled across something else and that is BitConnect.
BitConnect is an open source crypto community platform designed to provide investment opportunities, as it is stated on their website. Long story short its and a crypto trading bot. You can lend them your money (in a form of BitConnect token) and they use it to invest in cryptos. You are rewarded a percentage of the invested amount per day. The interest rate is variable, between 0% to around 2% per day. 1-2% per day is a lot, so it is possible that it is a scam.
I did internet search to find out more about BitConnect, and I found more than a dozen reviews on youtube. All of them were positive. Amazing. So I decided to try it myself. I opened and account and made a deposit of 400$. BUT, since I used only recent gains from trading to make this deposit, I am not risking my any of my own money. So screw it, let's test it.
With this level of investment I get a variable percentage profit, which over the past several months was about 1% A DAY. This sounds too good to be true, doesn't it? So, you see my scepticism.. I still think it might just be a scam.
If you watch the youtube reviews you will get stories about how BitConnect lets you profit from a compounding interest by reinvesting your gains everyday and how powerful this compounding interest is in building up capital. You will see Excel at work and people calculating how you can double your money in a very short time. BUT, Don't hold your breath, it's not that simple. the interest that you get depends on the investment, and you are only allowed to reinvest the gains in multiples of a $10. So, if like myself you invest $400 then you can only reinvest your gains every 3-4 day, and not everyday. The first day I earned about $3.0 on my investment. On the second day the interest was around $3.5. 
But I can only reinvest if I have $10 or a multiple of $10. Another thing to bare in mind is, that if you (re)invest in BitConnect, the invested capital is frozen for at least 120 to 299 days (depending on the invested amount. In the meanwhile you cannot withdraw the investment. You can only withdraw the gains on your investment. This all means that in fact one can only really start making money after around a 100 days.
I'm on my day 3 of investing with BitConnect. So far I "made" around $6.5 on an investment of $400. I have not yet tried to withdraw any money, so you have to bear with me if you want to know what happens next. I'll keep you posted.
In the meanwhile if you think this sounds interesting you can find out everything about BitConnect by going to their website. If you think you also want to give it a try, you can sign up by using this link:
https://bitconnect.co/?ref=stach001
If you are interested what happens with my $400 investment please follow me and up vote this article. CHEERS!