EthConnect ICO: Company Review and ECH Token News Updates

EthConnect ECH: Reliable Ethereum Loan Platform For Users?

EthConnect ECH is another lending platform built on the second largest cryptocurrency platform, Ethereum. You’ll learn more about how it works here in this article.

What is EthConnect ECH?

EthConnect ECH is a new ICO that is based on digital currency that is making a major contribution to building a lending platform developed on the Ethereum Blockchain. The EthConnect ICO started in November of 2017.

From the start there are major red flags, the EtherConnect Website is very scheme oriented. The name EthConnect is similar to BitConnect which has become one of the biggest scams online in the world of cryptocurrency. Another ridiculous factor is that the company is promising a 52% ROI each month for anyone who has been lending money through the platform.

As far as EtherConnect goes, you buy coins or tokens and then stake them on the system to make money. EthConnect promises that they will use the tokens to give users loans. But why would anyone want to seriously pay an interest rate over 50% a month for a loan? The reality is they wouldn’t. They’re great questions to ask, and if you take a close look at EtherConnect, you’ll likely see that it’s not a worthwhile investment.

There’s a very strong possibility that EthConnect is a Scam entirely. And that is only based off of research into the company.

How Does EthConnect Work?

EthConnect makes the promise to give token holders their ultimate opportunity on their initial investment. The platform allows you to mine, stake, or trade. However, the main reason that EthConnect makes you money right now is through the referral system. It’s a common pyramid scheme that is based on the same logic that BitConnect was. EthConnect has a five-level system that pays out 8% for the people who pay directly to the system.

The company is promised to be “a solar module referral system,” what that means isn’t entirely clear however. But regardless of the confusion they focus primarily on the 8% referrals that are said to be paid to active affiliates at the top of the chain. While it’s true that affiliate marketing isn’t a bad thing and is a very lucrative business model often times, it’s not looked on with high hopes in the cryptocurrency space. In all actuality, a company that is primarily focused on their ICO and not what the tokens or platform can contribute is likely a scam.

And with a company that promises earning as high as 52% a month from lending and staking, you have to question the authenticity. The company doesn’t even explain how this is possible, which is dangerous as anyone who has been involved in legal investments of any kinds knows this is a ridiculous number. And like a lot of other Ponzi schemes, the main goal is to get referrals, it seems as though they could care less about the actual development of the EthConnect platform.

The whitepaper also validates that EthConnect that it is really a scam. And it’s a mess to put it simply, the information on cryptocurrencies in general from the company has no real information about why they should be trusted or what makes them a credible business. There are zero details about the team, features or technical aspects of EthConnect on the whitepaper. This is a very bad sign and really a definitive trait of a scam system.

What is the EthConnect ICO?

The ICO of the company took place in November of 2017 and the company released eight million of their tokens known as ECH as a price of $0.50 per token. Towards the end of the sale they started to sell at a price of $1 USD.

As far as distribution goes, 30% of the tokens supply was given to investors. Another 30% was given to developers and 20% to advertisers. There was then another 20% spread for the purpose of a maintenance provider, unfortunately no one explains what that is.

Another of the red flags of the company is the claims they make that investors can expect the tokens to be priced at $200 by the end of 2018. This is a bad sign because as the past shows, when a company claims it’s worth will scale that fast, in a matter of less than a year – you’re likely being scammed.

What Are the EthConnect Investment Packages?

The company claims to have several different investment packages, but they are really unrelated in any way to ECH tokens. They mainly focus on the investment/lending opportunities instead. This is yet one more reason to be wary of the company.

The four different packages they have claim to give you 45% earnings a month are as follows:

• $100 to $1,000: ROI of up to 45% per month
• $1,010 to $5,000: ROI of up to 45% per month plus 0.10% ROI per day
• $5,010 to $10,000: ROI of up to 45% per month plus 0.20% ROI per day
• $10,010 to $100,000: ROI of up to 45% per month plus 0.25% ROI per day

Once again, there is no real indication of how the company plans to help investors make money. The packages don’t make any sense to anyone who has been involved in investing. And not only that, but they company also claims that money will be used for lending purposes.

But in reality, why would anyone pay 45% a month to a sketchy lending company? It doesn’t make any sense and once again, EthConnect looks to be just making money through a standard pyramid scheme.

Who is Behind EthConnect ECH?

The company has an address in Tokyo but other then that, there is nothing about the team behind the company. The whitepaper doesn’t even have an about us page with any more information about the company. When someone asks for your money without any reason or information about what you’ll receive, this is a very clear sign of a scam.

EthConnect ECH Conclusion

The company doesn’t even put effort into explaining anything about the company. It’s very similar to the launch of BitConnect and their now famous scam that took a lot of people’s money. The cryptocurrency company has no products or services to speak of. There’s a lot of these lending schemes on the market right now, they typically promise with empty words and make unrealistic, bold claims. The main purpose of the platform is said to be to help people make a lot of money fast, but in reality, they rob people of money.

There’s zero transparency of the EthConnect project from every stand point. The whitepaper doesn’t have any information that is useful for potential investors or technical individuals. And there is nothing about the team of developers whatsoever.

For all expansive reasons, EthConnect appears to be your standard pyramid scheme that is best to stay away from. Unless they start to disclose information, and state what real life problems they can solve, it’s best to stay away from the company entirely.