ETHconnect:
ETHconnect is a Bitconnect lending clone, the ICO involves a token with the crypto-ticker of ECH. Apparently the ECH ICO was a nightmare, some people had their BTC frozen, many others have and continue to have withdrawal errors, others report their BTC just disappearing.
There are no straight answers online but many people are complaining, and it seems only a minority of investors are able to remove their BTC which has to be alarming.
@EthConnect on Twitter, which has 19.3K followers, recently said: "Dear everyone, We are moving to new datacenter. Don't worry, we will be back soon. Thank you! 4:09 PM - 13 Nov 2017"
Unfortunately such reassurance does not inspire much confidence since people very recently saw similar messages from the now defunct Bitpetite.
Additionally the ETHconnect website, which has been down recently but is currently up at time of post, has a disconcerting bot-post which says:
"Don’t worry if Bitcoin haven’t still into your balance yet, our system have received your Bitcoin, your balance will be updated as soon as possible. Be patient"
Again this post should do little to inspire confidence particularly since it is a cut and paste comment sent to all users who log-in, I know this because I never deposited any BTC and yet they tell me "...our system have received your Bitcoin, your balance will be updated as soon as possible."
Full disclosure, although I have a log-in, I'm not invested in the ETHconnect system so take my comments with a grain of salt but here's what I think: Even if it is legit, which I think is less and less likely, why invest with a clone when Bitconnect has shown itself for 11 months to pay well and regularly.
Put it this way I'd trust BCC way before I'd trust some new clone.
With ETHconnect, and to some extent with Bitconnect, you have exit scam potential but Bitconnect has been around for nearly a year, so if they wanted to exit scam why not already do so?
Also with ETHconnect you have all the innumerable legit problems that can sink a new ICO as well.
So even if ETHconnect is Legit, and seems they are NOT, you still have to worry about them getting off the ground.
If you want to use a lending platform, use the one with the most proven track record. Is Bitconnect 100% safe? No, but it has existed for nearly a year and has paid out 1% average daily interest that entire time to invested parties such as myself. Could Bitconnect disappear tomorrow? Yes. but I think that is highly unlikely for a number of reasons I won't get into here. Suffice it to say I truly believe in Bitconnect and I am invested in it. This post is not about Bitconnect exactly but the question does come up, why ETHconnect when you can Bitconnect?
If you want to know more about my thoughts on, or my journey with, Bitconnect lending platform then please follow me. I make regular posts about my daily interest and reinvestments, my thoughts on their sustainability and more.
If you want to get involved I'd love to "sponsor" you.
https://bitconnect.co/?ref=infidel1258
As always, up-vote, comment, follow and I hope you have a wonderful day.
