BitConnect - Make money lending!

Hey guys,

I didn’t believe in this initially, however, when I received my first payment I was a believer. I have posted a pic of my first payment at the bottom of this post, yes it’s only a $1.43….but I’ve invested on $100, and the $1.43 payment was received just in one day.

Essentially BitConnect is a lending facility, where you convert your Bitcoins to BitConnect tokens. You then lend out your funds, at an average rate of 0.9% per day. Yes, per day as at the 30th July 2017. So based on this 30 day interest rate, you will have your initial capital returned after 111.1 days, or just under 3 months.

However, the idea here is not to recover your capital, rather to grow your nest egg. Exponential returns are obtained by reinvesting all interest generated. Thus taking full advantage of compound interest. In my next tutorial, I will show you to potential returns possible based on the current average of 0.9%, and a single investment of $100. This spreadsheet will be available upon request.

Admittedly, the bitconnect structure does have the hallmarks of a pyramid, so only invest what you can afford to lose.

Below, however, is a step-by-step guide on how to make your first loan on BitConnect

I’ve pasted the link to BitConnect, if you liked this tutorial and would like to support my efforts. If you have any questions please post to my steemit account @whytewolf. I am happy to answer any questions.

Please note: The information contained in this tutorial is general in nature and should not be considered as financial advise. It does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

My referral link below:
https://bitconnect.co/?ref=whytewolf

Step 1: Set up an account at https://www.coinspot.com.au/ to covert your Australian dollars, US dollars, etc (Fiat currency) into Bitcoin. You can use other websites such as BTC markets, and many others.

For this example I am using Coinspot to demonstrate how to send the Bitcoins:
Once you have created an account at one of these sites and are verified. The first thing you need to do is to change Fiat currency into Bitcoin.

Select buy Bitcoin.

Enter the dollar amount and click Buy

Follow the prompts via Poli payments – to finalise payment.

Once payment has been made, open your Bitcoin wallet,

And you will be at the below page. Select the amount, which will be your Bitcoin total purchased less the transaction fee. The BTC Payment Address will be obtained in step two, we will return to this page once we have obtained this address.

Step 2: Send Bitcoins to BitConnect / obtain BTC payment address

First you need to send Bitcoins you purchase on Coinspot.

Set up an account on BitConnect. Then log into the Dashboard and click on Exchange (on the top right):

After that you have to click on Bitcoin Deposit, in green to the left of the orange withdraw button.

The address is unique to your wallet, copy the address that pops up.

And return to the Coinspot website where we left off.

Paste this address in the BTC payment address field. Hit send, and you will receive a verification of withdrawal email which you will need to verify.

Step 3 – Bitcoins to BitConnect

Don’t stress, this transfer of Bitcoins can sometimes take up to an 1hr. Grab a coffee, watch an episode of the Big Bang Theory (its running now as I type) :)

Once the money has been transferred, you will receive something like the below, depending on how much you transferred.

Now all you need to do, is to transfer these bitcoins into you bitconnect wallet and provide the loan.

Click on BCC Exchange and scroll down to the buy table (see below)

On the bottom right is the lowest someone is willing to sell Bitconnect tokens at that point in time. If you are happy with this amount click it, and this will populate the fields in the buy order.

You now just have to click on All to adjust the values in the textfields so that all your Bitcoins will be converted to BitConnect Coins.

Now just click Buy BITCONNECT COIN:

Finally you have to click confirm and wait for the buy order to be filled.

Step 4 – Now the fun part, Lending BitConnect Coins

How exciting!

Navigate back to the Dashboard. You will see that you now how funds in your bitconnet wallet (Top right)

Now click on the Lend BitConnect button.

There are 4 steps to be taken when the popup below appears.

i) Type in how much you would like to lend, in increments of $10

ii) Click on checkbox that you agree to terms

iii) Click on Pay from Bitconnect wallet

iv) Finally, on the next popup click confirm and your loan has been filled!

Now just wait for the money to start rolling in! You’ve successfully lent your first bitcoins, and I’m sure you will do this many more times when you see the money start coming in :)

Conclusion

I hope this was helpful for you!

If you liked this tutorial, please use my referral link below to show your support!!

https://bitconnect.co/?ref=whytewolf

If I get enough requests for tutorial 2. It will show you the kind of money you can make by just investing $100, using the power of compound interest.

For those who will be interested, I can send a copy of this spreadsheet upon request. Thanks again.
Oh, and as promised…below is my first payment of $1.43 from my $100 after just 1 day.