After Bitconnect fell, many other similar scams popped up. Many are familiar with Davor Coin and I recently did an article on Zouk Coin, but I recently found a new one: Bitstrades.
There are some interesting similarities between the Bitstrades and Bitconnect logo... (RED FLAG!)
Bitstrades calls itself revolutionized digital banking. All it really is is a 'bot' lending platform like Bitconnect. Just like Bitconnect, it's payments are insanely high. For large investments, it garuntees almost 250% returns yearly. The only way to keep up these types of loans are to have payouts be propped up by new users joining the system, which is an unsustainable system and will surely collapse in the future, just like BitConnect did. (RED FLAG)
There is only one way to exchange Bitstrades: through the Bitstrades company. This is a problem because now the company can easily manipulate the price of Bitstrades (BSS). The company can pump up BSS and give investors insane returns on investment. This is obviously not stable and is a big red flag.
Bitstrades literally has no whitepaper which is obviously a big red flag. We don't know how their system works, if the company can just mint Bitstrades, etc. This is the same as BitConnect. If a cryptocurrency has no whitepaper, there is no telling what could be in its code.
In total, everything about Bitstrades is a red flag. Their website looks fairly similar to BitConnect (red flag). Having only one exchange, such a high ROI, no whitepaper, similar logo as BitConnect, etc. These are all red flags! I advise you to stay away from Bitstrades. It is a scam like BitConnect and will steal your money!
@shredz7 and make sure to upvote! Resteem if you think your followers will like this! Comment on what cryptocurrency and/or subject I should talk about next, and tell me your thoughts on Bitstrades! 👍