BitConnect BCC Cash – BCCH ICO Cryptocurrency Lending MLM?
BCC Cash is a new cryptocurrency that isn’t linked to bitcoin (BTC) or Bitcoin Cash (BCH) in any way, shape, or form. Let’s take a closer look at how it works today in our review.
What Is BCC Cash?
BCC Cash, found online at BCC-Cash.co, describes itself as a “cryptocurrency or digital money used for secure and instant transfer of value anywhere in the world like bitcoin.”
The coin appears to be one of many altcoins abusing the name of bitcoin. The project is not linked to bitcoin or Bitcoin Cash in any way, and it doesn’t even appear to be a hard fork of bitcoin. Instead, the development team has scheduled an ICO for December 22 to January 11. You can purchase BCCH during this ICO. There’s a maximum supply of 28 million, with just 6.5 million available through the crowdsale.
Based on everything we can see online, BCC Cash is a complete scam. The company mentions a lending scheme that pays 48% per month. The whitepaper also lists specific price targets: the tokens are being sold for $0.85 during the ICO, but the company claims investors can expect the tokens to be worth $50 before the end of May 2018.
BCC Cash Features
Why do we need BCC Cash? What kinds of problems does it solve in the crypto community? Here are some of the advertised features:
- Deposit: You can deposit BCC Cash
- Buy: You can buy BCC Cash from the BCC Cash Exchange
- Trade: You can trade BCC Cash
- Profit: “You can buy BCC Cash from lower price and selling them at higher price,” explains the official website
- Lending: BCC Cash’s development team will pay you 45% per month when you participate in a lending scheme
Obviously, when a coin starts mentioning a lending scheme that pays 45% per month or more, it’s a sure sign you’re dealing with a scam. BCC Cash’s lending scheme requires you to deposit money, then lock that money for a period of time. BCC Cash will magically turn that money into more money, paying you 45% per month in exchange for locking it up. BCC Cash claims to have some type of lending scheme, although it’s unclear who they’d lend money to at an interest rate of 45%.
BCC Cash also has a staking program that pays you even higher interest rates. You earn 66% over a 6 month period when you stake your coins for 6 months, for example.
Ultimately, BCC Cash has no business model in place, and we have no reason to believe the coin is worth anything.
BCC Cash ICO
The BCC Cash ICO is scheduled for December 22 to January 10.
There’s a total of 6.5 million BCCH available during the crowdsale out of a total supply of 28 million. It’s unclear where the remaining tokens are allocated, but we assume a portion is available through staking and another portion is available through the lending program. It’s unclear how many coins are being reserved for the original development team.
You can earn 5% BCCH when you refer others to the ICO.
BCC Cash is holding a 15 round ICO, with about 300,000 to 500,000 coins available during each round. The coins are priced at a rate of $0.85 (during the first round) to $2.20 (during the last round). You can only use bitcoin to buy BCC Cash.
A pre-sale took place from November 21 to November 22, during which BCC Cash sold 1.5 million BCCH tokens at a price of $0.50.
The company claims that their coins will be worth $10 in February 2018 and $25 by March 2018, rising to $50 before May.
Who’s Behind BCC Cash?
The makers of BCC Cash refuse to disclose their identity. Based on the atrocious language used on the official website, BCC Cash appears to be made by a team from a non-English speaking country.
The whitepaper and website never disclose the team’s location, identity, or experience. We don’t have any contact information for anyone involved with the project.
In case you didn’t already know that BCC Cash is a scam, the lack of team information confirms it.
BCC Cash Conclusion
BCC Cash seems like an obvious bitcoin scam based on everything we can see online. The scam features a sleazy lending system where you earn 48% per month, as well as generous affiliate referral rewards for recruiting others to join the platform.
The BCC Cash whitepaper has no mention of a business model, and there’s limited transparency about the project overall. Despite the lack of information, the whitepaper claims that BCCH will be worth $50 by the end of May 2018 – and you can buy it for just $0.85 during the ICO.
Ultimately, based on everything we can find online, BCC Cash is a complete scam trying to take advantage of the good names of bitcoin and Bitcoin Cash. Don’t fall for this scam – avoid giving money to BCC Cash.