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What is BCC Token?
Bitconnect, or BCC, was an open-source cryptocurrency that existed from 2016 to 2018. It was related to a high-yield investing scheme. Because of its multilevel marketing design and absurdly high payouts—1% daily compounded interest—Bitconnect was thought to be a Ponzi scheme. Bitconnect interest changed dramatically in tandem with the volatility of Bitcoin, to which its value was linked.
Until its price dropped as traders lost faith, the Bitconnect Coin was one of the top 20 most successful cryptocurrency tokens in the world. In December 2017, BCC reached an all-time high of US$463 from a post-ICO low of $0.17. As of March 11, 2019, it dropped to $0.40. The U.S. Securities and Exchange Commission filed a lawsuit against Bitconnect in September 2021. Bitconnect was accused by the SEC of defrauding American investors out of a total of $2 billion.