LendConnect is a new platform that has emerged onto the market. The company behind LendConnect are looking to develop the product into an all-in-one lending program. You may have seen a sharp popularity increase in lending programs with famous ones such as EthConnect and GoldReward, well LendConnect is looking to take market share from those and be your one stop hub for everything lending.
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LendConnect claims to be a very experienced creator and user of past lending programs. By gathering the experience and time spent in these lending programs, they have learnt how to tell the good from the bad and the ones that will make us investors a lot of money. To capitalize on this they have produce the LendConnect cryptocurrency. This currency will be used as a core feature of the LendConnect platform, and will be the base of payments and loans. You can also use the LendConnect coin (LCT) to purchase all other lending programs that will be released.
Although the back office is still under construction we find that their website design is solid. They have a custom built back office and not just a script that some other lending platforms have used. This gives them credibility and from an investors perspective I’m very impressed with the teams communication skills and coding abilities.
With many platforms we often see the owners are from countries such as Vietnam, India and other places in Asia and Africa. Although we do not intend to be racist, products that have been developed there in the lending space have often been subpar in quality. If we take a look at DavorCoin which is produced by French developers, you can see how the quality and user interface is much smoother, and the ICO ran much better with minimal downtime.
So the LendConnect ICO will be ran in 4 phases. The first phase will start on the 29th of November. Phase 1 will entail 1 million coins sold at $0.60, the price then increases on phase 2, 3 and 4 to $0.75, $0.90 and $1.10.
This ICO looks very promising, often times we see companies selling 10-15 million coins at $1 each, so the limited supply and cheaper price provided by LendConnect will mean greater returns for investors. Getting the coin to an exchange looks very possible, and if we look at previous coins we can see that 10-15x returns are very possible and very likely.
The coin will be an ERC-20 token which is fantastic! This means we can store our coins on wallets such as MyEtherWallet with ease. Often times these coins will create non Ethereum based cryptos, which causes issues for investors trying to manage their funds, as we either have to store it on the website or on the exchange.
The LendConnect roadmap is short and sweet. It gets to the point and avoids fluff that is seen on other platforms. The design and website creation has already happened which is the first step in the roadmap, they are then running their ICO(right now) and then will be launching the coin onto an exchange. EtherDelta is likely to be the first exchange the coin is launched on.
From December they are looking to getting the lending platform active on their back end, and then to have all the other coins added to the platform from January on wards.
LendConnect Scam Risk
By analyzing tons of these platforms a day, I can often tell which ones look legitimate and which ones look like they’ll run off with everyone’s money. Although I can never guarantee that a platform will stick around, I believe that LendConnect looks to be a legitimate platform with a very low risk of disappearing.
I recommend doing a small investment into LendConnect and seeing other ICOs that are currently running by visiting our homepage. You can find tons of other lending platforms there and choose your favorite!