Bitconnect wallet review

Bitconnect wallet review

Bitconnect
Intuitive Ease of use,  High Privacy,  Wallet platform Private Keys Stored

Bitconnect is one of the biggest Cryptocurrencies available on the digital market. They offer a wallet with multiple features like long term holding, staking, trading and lending. The users can earn revenue when lending or staking. It's user-friendly and is designed for all types of consumers.

With Bitconnect, users can earn revenue by lending and staking. Staking is the process of checking transactions to make sure the tokens are transferred by the real owners and it will be available until the end of 2019. Also, the user can send their profit to a debit card by using Uquid.

Company / organization behind the wallets

Bitconnect was designed to provide multiple investment opportunities. There is no information regarding the founder or the company behind this platform. This may lead to a lack of trust for users. At one point the website claimed to be a UK-based company but after a while they removed this information from the website.

Crypto Currencies Support

Language Support

  • Arabic
  • Chinese
  • Czech
  • Dutch
  • Filipino
  • French
  • German
  • Indonesian
  • Italian
  • Japanese
  • Korean
  • Polish
  • Portuguese
  • Russian
  • Slovenian
  • Spanish
  • Thai
  • Turkish
  • Ukrainian
  • Vietnamese

Supported Systems

  • Windows
  • OSX
  • Linux
  • iOS

Partners and integrated software

  • Uquid

The Bitconnect wallet can be encrypted and backed up with a passphrase but in case of losing the passphrase the users will lose all their coins. The platform has potential security vulnerabilities because of using hot storage. They use a decentralized Blockchain transaction technology so there is no third party to be trusted. Transactions are performed directly between users.

Summary:

Security
Low
2 Factor Authentication
Yes
Multi-Signature
No
Private Keys Stored On
Wallet platform
Storage Type
Hot storage
Transactions Validation
Full Node
Hierarchical Deterministic
No

What happens in the event of a disaster/theft/loss?

The user has a 'root key', 'recovery phrase' or 'word seed' that can be used to regenerate private keys.

Bitconnect is designed for all type of consumers. It has a user-friendly interface and offers several useful features. The most important ones are staking and lending which can earn revenue for the user. The wallet encourages its users to take into consideration long term coin holding and the transactions are made very easily between the users.

Summary:

Bitconnect has great functionality and is suitable for all types of consumers. They have a good security track record but their hot storage is not ideal. It is also worth considering missing information regarding its founders and the company behind the platform.

Ease of use
Intuitive
Suitable For
Millennials
Account activation process
Simple
Transaction fees
Dynamic Transaction fees
Setup fee
$0.00

Functionality:

  • Exchange coins crypto to crypto
  • Withdrawal funds through debit card using UQUID

With Bitconnect, users can earn revenue by lending and staking. Staking is the process of checking transactions to make sure the tokens are transferred by the real owners and it will be available until the end of 2019. Also, the user can send their profit to a debit card by using Uquid.

The wallet platform has built the exchange function in their own software and manages it locally.

Help and
support:

  • FAQ section
  • Contact form
  • Email

Personal information for activation account:

  • Email Address

Most common
customer complaint:

No information regarding the company; slow sync time