/biz/ - Business & Finance

I don't know, my friend has some btc in Celsius. He gets good interest, a grand or so a month.
I'm too frightened to have my btc under someone else's keys

>>24506074
They're probably leveraging it long and making a huge return and what they're giving you in exchange really isn't much in the grand scheme.

>>24506436
Isnt that unsustainable in the long run? If it was sustainlable, why do banks even exist? Eevery one can earn like 8% on stable coins as opposed to 0% by keeping money in bank

>>24506074
https://www.youtube.com/watch?v=CpnN6S_DvjQ&ab_channel=RealVisionFinance
https://help.blockfi.com/hc/en-us/articles/360048862572-What-are-the-risks-with-depositing-my-crypto-at-BlockFi-

They lend out the crypto to institutions for interest then they pass on the interest to the people that leave the crypto on the exchange.

It's about as safe as leaving your bitcoin on coinbase and definitely safer then leaving it on binance.

The interest rate increases when bitcoin is bearish because institutions borrow more bitcoin to short driving the interest rate up. It's pretty funny.

>>24506546
>why do banks even exist?
That's why Cryptoassets / defi is the fastest growing industry in the world.

That is why Central banks are creating Central bank digital currencies. We no longer need traditional banking since they do not lend to average people nor do they provide a interest rate on savings that beats inflation.

Bitcoin will be in a decade the best reserve asset and hence it will demand a very high interest rate to be able to borrow bitcoin.

There is literally no reason to sell bitcoin ever since you can just borrow against it on blockfi for instant liquidity or let it generate interest for you and live off the interest.

It's just like how 20-30 years ago people used to be able to retire off a million dollars in treasury bonds. Only now people just need 1 bitcoin in a blockfi account generating interest compounding monthly.

So now not only is your bitcoin increasing in value, you can also get a interest rate on your bitcoin and borrow against it.

It's like gold except it's infinitely scarce, digital, programable, yield producing and instantly liquid.

>>24506664
Their ETH rate is 5.25% . So is it safe to deposit 200 ETH right now and reinvest the earnings so that it can compound? Is is better than staking ETH 2.0?

>>24506074
it's a ponzi

>>24506718
I have no idea if the interest ETH will beat the interest on staking. All I know is I can hodl bitcoin on blockfi and get interest that compounds monthly.

>>24506074
They put it straight into high risk farming markets

Also, Why did SALT fail? dont they have similar model?

>>24506074
you should watch any of the AMA's with Alex from Celsius. But Blockfi is doing the same thing. They do exacty the same with crypto as banks do with fiat, but they can giv much higher returns because they have a much leaner tech-heavy start-up type company, while the bank pays all these 50+ yo boomers 5 figure salaries & company cars

They basically do large loans to big players (market makers exchanges and large funds etc)

>>24506074
>>24506304
>>24506436
>>24506546
>>24506615
>>24506664
>>24506719
>>24506742
>>24506803
>>24507032
I've actually looked at this yesterday
I've looked into blockfi celsius and nexio or something
turns out they are all a scams sadly
better go with compound but the APY is low.. as it should.

if you want high APY the most legit thing i can think of is maybe the cm bond wich has a 10% or 11% iirc

>>24506718
staking ETH is better now, because not so much is staked. Return rate is around 20% right now but it will fall gradually as more is staked and will probably stabilize somewhere between 5 and 10% down the road

>>24507156
this is also a good idea, and it will be around 6% in the long run