EthConnect ICO Review- Scam?

[bitcoininvestor]

The EthConnect ICO is set to start in less than 7 days with 8 million coins going on sale throughout November.

What is EthConnect?

The new platform is similar to the well known platform Bitconnect with the main difference being it runs on the Ethereum blockchain. They state on their new website that they'll pay users up to 45% interest per month on any investments that they make on the platform.
The new cryptocurrency will also be available to use for P2P transactions, to send money to and from family and friends or to pay for any goods and services from businesses that accept it.
https://ethconnect.net/ref/danbitcoin1
How does it work?

The ICO starts on November the 1st, to purchase coins all you need to do is sign up for an account, deposit on to the website using either Bitcoin or Ethereum and then you can purchase the new coins.
Once the token sale is finished the new lending platform will go live. They offer 4 different options for investming money, anything from $100- $100,000 loans.
Each loan made with them will pay interest out daily directly to your wallet. With the smaller loans the amount you receive depends upon the volatility of bitcoin that day, with higher plans paying that out aswell an additional set percentage of up to 0.25%. Once your loan term has finished you'll receive your initial investment back and obviously get to keep any interest that you've made as profit.
The length of time it takes for you to receive your original investment back depends upon the amount you lend them, with the highest plan giving your initial money back after just 89 days, whereas the smaller plan takes 179 days.
The platform also offers their customers the chance to make money by staking the currency, from just holding coins in your wallet you'll receive interest. There's also the option of mining with either a CPU or GPU.

Is it a scam?

Many people believed Bitconnect to be a scam but its now been running for nearly a year and has reached a market cap of $1.5 billion. In that time it's made many of investors a huge amount of money. More recently a similar lending platform 'Regalcoin' was launched with the coin price rising from just $1 to $40 in just a matter of weeks.
The new EthConnect platform looks set to grow massively as they already offer a lot more than many succesful lending platforms. Unlike many they've produced a 30 page whitepaper, their website looks professionally set up and they've chosen to differentiate themselves by making use of the Ethereum network and the smart contracts that go with it.

How does the platform profit?

They use a bot that trades on the volatility of cryptocurrency, when the volatility is high you'll be paid out a higher rate of interest. Because the market is so volatile this has allowed for them to make multiple trades per day using their custom coded bots which makes them profits, hence why they're prepared to offer users such a high interest rate.
https://ethconnect.net/ref/danbitcoin1
ICO Details

The coins will initially be priced at just $0.5 and will rise up all the way until they're $1 as more coins have been sold. Obviously this means that it's far better to get involved as early as possible.
The sale is scheduled to run from the 1st of November until the end of month but the coins are likely to reach their hard cap fairly quickly.

How high will the price go?

Ofcourse as with any ICO there's no guarantee that the EthConnect prise will rise atall, however history has shown with similar platforms that as soon as the coin gets listed on an exchange the price tends to rise. 40x gains were made with Regalcoin in just weeks.

Referral Program

They also offer a high paying referral program that rewards users for signing up their friends. The 1st level commission pays out 8% with payments also being made all the way down to the 5th level.
To get started and receive any extra help you can sign up with my link here:
https://ethconnect.net/ref/danbitcoin1

Conclusion

Ofcourse you should never invest more than you can afford to lose with any investment like this, however if you missed out on previous platforms or just want to reinvest some of your profits then the EthConnect ICO looks like a great calculated risk to me.
The website has already signed up 1000s of users and I fully expect the coins to sell out very quickly, hopefully I can get in at the initial $0.5 then I'll feel very confident of profiting if I can purchase a lot at that price.
Signing up with this link will allow you to set up an account straight away:
https://ethconnect.net/ref/danbitcoin1