Notice of closure.
The reason for discontinuing lending activities, BitConnect said that this action was aimed at helping this currency to participate in large exchanges like Bittrex, Binance, .
The announcement also said that although some services on the website platform are closed, this is not the end for this community. Other virtual money services will be provided in the future.
BitConnect, also known as Lending (Lending) platform and MLM (Multi-level Marketing) is one of the most popular cryptocurrency loan platforms in the world which attracts many investors. . Currently, BitConnect is one of the 20 most successful virtual currencies on the market.
Operation model.
There are many reasons for BitConnect to take this action, and one of them is the letters that were sent to the company from the authorities of Texas and North Carolina. The content in both letters clearly states that BitConnect has conducted non-registration of assets related to virtual currency.
A week ago, the price of a BitConnect dong hit a record of $ 400, hovering at $ 240, but as soon as the announcement came out, the price dropped to just $ 35.
In Vietnam, many investors participate in BitConnect and they are not worried about the previous move of closing high-interest loans and transactions of this virtual money trading platform.
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