I wrote an article on Bitconnect and it's legit or not. that you can see here
Now, let's take a look at the new kid on the block, Bitpetite.com
[What is Bitpetite]((https://bitpetite.com/?aff=cryptoliving)?
Short version: It's a service that uses your money to fund a bitcoin tumbler and in return, they pay you 4.5% per day. I wrote another article about the actual return of Bitpetite here to find the actual return.
There have two plans:
6 weeks that pays 4.5% daily on weekdays and 1% on weekends.
9 weeks that pays 3.6% daily on weekdays and 1% on weekends.
Unlike Bitconnect, they don't borrow your money to them so there is no capital release date. They take your money and pays you 4.5% or 3.6% daily.
Alright, let's get into goods and bads of Bitpetite.
Good about Bitpetite:
- High daily return
- Responsive customer support
- Comunity is being built up.
- Creative investment plans. they are getting copied by competitors.
Great about Bitpetite
- The ability to invest in BTC, ETH and LTC. Unlike Bitconnect, they let you invest in the actual coin not the equal $$ amount so if the price of your coin of interest increases at the time of investment.
- Hourly instant payouts. It's INDEED hourly and instant.
- High referral fees they even pay commission on the profit of your first level! Great for people with a lot of followers.
Bad about Bitpetite
- Security!-> They don't let you confirm your email address.
- Security!-> They don't offer a proper 2FA, they send a code to your email only
- Similar to Bitconnect, Lack of transparency on their tumbler and how much they are making and how much they are sharing with the community to give the users the piece of mind to invest.
My position:
They have been in business for 139 days, I have been investing with them for the past three weeks. It's been paying me consistently without any delay. I started by putting a little bit of money to test it and then brough bigger money in. Currently I reinvest my Bitconnect profit weekly to Bitpetite and reinvest them.
This was only my opinion on Bitpetite not a financial advice, please do your homework and do it at your own risk.
If you have already invested, please share your experience, opinion, and investment amount.