What is BitConnect and how people lost all their money on it?

What is BitConnect and how have people lost all their money on it

BitConnect was a Ponzi scheme using its own cryptocurrency, the BitConnect coin. It was originally released in February 2016. Initially a huge success, after nearly two years, it lost most of its audience after being exposed as a fraud by multiple organizations. On January 16th, 2018, BitConnect officially announced that it was … Read more

Why can’t governments regulate cryptocurrencies?

Why can't governments regulate cryptocurrencies?

Governments can regulate cryptocurrencies. In fact, regulators from different parts of the world have taken steps in addressing and managing the challenges brought by the rise of virtual currencies, especially that the latter bypass financial institutions, firms and banks, and central and exchange clearinghouses. According to experts, cryptocurrencies and the activities it … Read more