Blockkonnect Scam: A Detailed Review
As the name reflects, Blockkconnect is an attempt to use blockchain technology to connect people interested in cryptocurrency and blockchain using a social network platform. It is a blockchain technology that promises to provide users with extensive features and an opportunity to connect and share knowledge and earn money at the same time. However, some people wonder if there is a reality in Blockkonnect scam claims.
What Is Blockkonnect and How Does It Work?
The company is based in the UK while the CEO of the company is Andrey Graham. Blockkonnect allows you to earn through the platform by sharing your own posts and content. The idea follows the same concept on how to gain an income on YouTube through your video content using AdSense.
It is also an ICO cryptocurrency that runs on the Ethereum blockchain platform, following Ethereum ERC-20 standard. It started on the 20th of August 2018, and the token is XBT. It has a current price of 0.015 USD, and the total supply of XBT available is at 200 million.
The ICO timings were between 20 Aug 2018 to 17th Oct 2018, and the expected price after ICO is $1. To buy tokens, you can use cryptocurrencies like ETH, XRP, BTC, LTC, and BCH.
Around 68% of the tokens are for sale, wherein 10% are for team members that are behind the project, 10% is to run the forum, 4% for the bounty (which we will explain in next couple of paragraphs), and 8% are protected as a reserve.
The platform resembles other popular social media platforms, with a wall as well as a forum. Here are some basic features it offers when you become their member:
- Discussion: Just like a traditional forum, you can create your own topic thread here with information related to crypto or blockchain. When your content gets acknowledgment, you can earn based on your rank.
- Tip: To reward its users, Blockkonnect offers contributors tips for their content as well in the form of their XBT tokens.
- Upvote: Similar to Quora, users can upvote answers that they like. This way, good writers can earn more. Similarly, if your content is good, you will receive more upvotes; hence, higher chances to make money.
- Promote: To promote your content, you can also use your XBT tokens, which is a good option for companies and blockchain startups to market their business or ideas for feedback from the pros in the industry.
- Request: There is also a request zone where users can post questions and request for answers. The good thing is, both poster and the person who answers the question receives XBT.
Simply put, you have a chance to earn money by writing about the crypto and blockchain. The more followers you have, the more popular you are, the more upvotes you get, the more you earn.
When users create content, it helps the network get better rankings on SERP’s like Google and gets more visible on the internet, getting more traffic. With more traffic to the website, it earns through Adsense and other incentives.
The company then converts those earnings into XBT and distributes 45% of what they earn to the users. This way, users can also grow and increase their income with the growth of the platform.
Who Is Blockkonnect For?
Blockkonnect provides an excellent opportunity to blockchain companies, crypto companies, and other related companies to share their ideas, market their products, and get feedback from industry leaders on their ideas or products. At the same time, it is a great platform for blockchain developers as well as cryptocurrency investors.
Those who want to become influencer through their content and industry knowledge can also use this platform. The best thing is, as your content gets popular, you can earn more and more.
In addition, it is also a great platform for those who want to learn about the blockchain and cryptocurrencies. It is also a great source for people who want to keep up to date about the industry updates.
Their idea is very simple. You share content, and you earn money when your content gets popularity just like people earn on YouTube. You can earn XBT tokens and can withdraw your tokens when needed from the withdraw panel, and all you need is to provide an Ethereum wallet address.
However, as it is itself is a community forum and social network, there is plenty of tips, advice, and other useful information available on their forum by other members. You don’t need any special assistance to understand the concept.
The Good and the Bad
To give a better answer to the question “Is Blockkonnect scam?”, let’s break down the good and the bad things about it.
The great thing about the platform is that you can earn money in the form of their token XBT as a contributor, which means you can earn even without investing. The platform also allows you to build your influence, extend your influence, market your blockchain or crypto-related skills, learn about the industry, and earn while doing so.
The amount you can earn as a contributor depends on the success of the platform, or in simple words, the amount of traffic it gets and earns through AdSense and other similar incentives that later distributes among contributors will dictate your earnings. So you need to wait, and from the look of it, it is far from success right now.
Blockkonnect Scam Evaluation
Well, based on our research, it doesn’t look like a scam. It is a pretty straightforward concept and acts as a blockchain based social network. As almost all of us are very familiar with how social media networks work, it is very easy to get started on this platform.
However, the success of the platform can be determined in the next few months as it is still the early days of Blockkonnect. We can also have a more concrete answer whether Blockkonnect is a scam or not in the next few months. For now, it needs to be built as a popular social network for blockchain and crypto enthusiasts to attract traffic, as this is how they are going to pay their contributors.