Lendconnect is a scam platform or not? That’s the question many have been asking. Is this a legit way to earn a profit in the cryptocurrency market, or is Lendconnect just yet another Ponzi Scheme?
Let’s take a closer look and find out the truth…
Forget the Ponzi schemes. Click below for someting far better.
Company Name: Lendconnect
Owners: Uncertain
Price To Join: $100 Minimum Investment
My Rating: 0/10
~ Lendconnect Reviews ~
What Is Lendconnect?
It seems like every time I go online I come across yet another scheme or program that has something to do with cryptocurrencies these days. There are legit investment programs out there, but often buried beneath a pile of cryptocurrency scams and dodgy Ponzi schemes all looking to cash in on the popularity of Bitcoin and cryptocurrencies in general.
So what is Lendconnect about? Is this a legit deal, or just another scam looking to fleece people of their hard-earned money?
Lendconnect is all about earning profits by lending digital currency. In my experience reviewing platforms like this, almost all programs that have anything to do with so-called “lending” of cryptocurrencies are usually nothing but Ponzi schemes.
How It Works
When you join Lendconnect you are required to purchase LCT tokens. It’s via these tokens that you make money with this scheme. The are essentially two main ways you can actually earn a profit:
- Hoard the tokens and hope they increase in value.
- Lend the tokens back to Lendconnect so the platform can trade with them in the hope of increasing yours (and Lendconnect’s) ROI.
This sounds very similar to so many other platforms out there, such as the infamous and now defunct BitConnect, along with the recently demolished Davor Coin scheme.
Like I mentioned, these types of dodgy platforms are all over the internet at the moment, and likely new ones will just keep on forming, seemingly overnight. With the immense popularity of both cryptocurrencies as well as revenue sharing Ponzi schemes, I can’t see this craze dying off any time soon.
How You Make Money
Lendconnect boasts 4 different types of investment package, and each one will cost more than the last to get involved in.
- Package 1 – $100-$1000, 120 days, 155% Interest per Month
- Package 2 – $1001-$5000, 100 Days, 158.1% Interest per Month
- Package 3 – $5001-$15,000, 80 Days, 161.2% Interest per Month
- Package 4 – $15,001-$100,000, 60 Days, 164.3% Interest per Month
The real way to make money with this scheme is through recruitment. Ponzi schemes like this one simply use the lending scheme as a way of offering some sort of “seemingly legit” service, when really they are nothing more than an empty MLM pyramid that relies solely on recruitment to make money.
You invest your money, then in order to have any hope of seeing a ROI, you must actively go out and recruit new members into Lendconnect. When they invest their money, then you can start to see a return on your own investment.
You earn the highest percentage from your direct recruits, and a lesser percentage from their recruits down to 4 levels deep. Level 1 earns you 8% and Level 2 earns you 4%. Levels 3 and 4 are lower.
These schemes can only continue to function if people actively promote them and recruit new investors. That’s exactly why they are designed with the need for recruitment to earn a profit. This ensures every single investor is keen to grow the scheme by trying to get others to join up.
The people who run these schemes always protect themselves. They’ll make sure they start getting paid from day one with no risk to them. The more people who join, the more money the owners make. Even when the scheme goes belly up – either because people stopped joining or it got shut down by the authorities – the owners will always walk away with a bag full of cash, while the rest of the investors are left empty handed.
The only sure fire way to make money from a Ponzi scheme is to either create one yourself, or be one of the very first people to jump on board.
It even works very much like that with legitimate MLM companies that sell real products.
Target Audience
These schemes always target people hungry to make a quick and easy buck. Some people know when it’s a Ponzi scheme, but are willing to take the chance anyway. Others are just wanting to get involved in the lucrative cryptocurrency world and don’t realise what they’re getting themselves into. They believe they are investing their money in a real digital currency, or purchasing genuine Bitcoin.
What I Like
- I don’t like anything about this Ponzi scheme
What I Don’t Like and Red Flags
- The lending side of things is just a way of pretending Lendconnect actually offers some sort of legit service
- The lending is merely a cover for a revenue sharing Ponzi scheme
- These schemes can never last. By their very design they are all doomed to fail at some point because they have no real products or services
- I’ve seen countless schemes operating in the exact same way as Lendconnect and they are all Ponzi schemes
- The owners always make money, and when this collapses, they’ll be cashed up while most investors are left cashless
How Much Does Lendconnect Cost?
The bare minimum investment amount to enter this MLM scheme is $100. Obviously the more money you are prepared to risk, the more profit potential there is. Ponzi schemes sometimes do pay out, but they are an extremely risky venture to sink your money into.
Is Lendconnect a Scam?
It’s possible you could get a return on investment, but like I said, these schemes are extremely volatile and super risky. I tend to rate Ponzi schemes as scams, but there is the possibility of a payout, so not an outright rip off.
If you are looking for a genuine cryptocurrency investment, then Lendconnect is not it. It’s nothing but a gamble at trying to make a quick buck, although these schemes never do pay out quickly. By the time you are due for a payout, if you can successfully recruit enough people, the scheme might have dried up, with the owners living it up on a beach in the Mediterranean somewhere.
Schemes like this one are a lot like gambling, so you might have better luck with this lotto system.
A Better Way To Make Money Online
I run an online business, and while you won’t get “cashed up” as quickly as some of these scams make out, you will build a very decent online income over time. Much of that income will come in from a variety of sources and some of it will be passive in nature.
Anyone can do affiliate marketing successfully if they are shown how. For more information on how to get started and what it’s all about, click the banner below to read my free guide.
Darren Burton
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