/biz/ - Business & Finance

>>27494591
wait what? can I get 4.5% apy on link right now? at gemini? I might dust off my cold wallet for this

>>27494591
Seriously what did they mean by this? Where is the hyperlink?

>>27494591
>Note: Gemini is not a depository institution and Gemini Earn is not a depository account. Gemini Earn allows customers to lend their digital assets to disclosed institutional borrowers. Loans are not insured by Gemini or any governmental program or institution.
Seems like some institutional purchasers are shorting link or else the rates would not be this high no?

>>27494728
imagine running this massive counterparty risk on fucking Gemini with your entire link stack for 4 point fucking 5 percent
lmao nice try retards

>>27494895
this. fuck off with all these high risk staking schemes. the real chainlink staking will be stressful enough

>>27494895
>fucking Gemini
of any party to trust... well, theres honestly not many I'd trust more than Gemini. Maybe my dad. I haven't touched my linkies since
I bought them in 2017 but I'm honestly considering this...

>>27494895
I mean my take on it is they are that desperate for Link to be able to short it.
4.5 might not seem like a lot, but in general for a blue chip that rate is insane, look at AAVE for reference. I never really believed how early we really are until today, I thought breaking into top 10 brought a bunch of dumb money.

>>27494591
>he still doesn't know
Do enjoy wasting ur money?

>>27494765
>Seems like some institutional purchasers are shorting link
>>27495476
>I mean my take on it is they are that desperate for Link to be able to short it.
alright fuck it I'm not giving shorters fuel, if you shorters want my link you can pay $81000 per token.

>>27494895
Gemini insures holdings up to $250K. Them and Kraken are neck and neck for the most regulated CEX, with Gemini likely coming out ahead on account of also satisfying New York fiduciary regulations. So how do I get 4.5% APY? Is it some kind of staking or is it lending it?

It's 5% at Nexo and 5.2% at Coinloan

>>27494765
So it’s not a good idea to stake with Gemini? I’m genuinely curious, cause I’ve been bouncing the idea around for the last couple days and want to make an informed decision. Pic related, email I got from Gemini.

>>27494591
>>27494728
>>27494765
>>27495476
why would they borrow on Gemini for >4.5% when they can do the same thing on AAVE for 0.37%?

I first heard of Link in 2019 on /biz/ when it first broke a dollar and I've been kicking myself for not getting in then. I'm waiting for it to drop below 20 and then I'm going to buy in. Right now I'm planning on using Gemini. I'm still new to crypto is using Gemini stupid? Or should I just use metamask and uniswap?

>>27494591
is Gemini a real CEX? I thought they were unregulated/banned in USA.

>>27497757
Because Gemini is doing deals directly with the institution where with AAVE they would need to use smartcontracts which is hard and not viable for an institution that is involved in market making.

>>27494591
desu can't see coinbase too far behind them. Celsius, Gemini all pay the same apy. Might be the next best thing before real staking is released. No, I don't want to deal with yield farming and 300 pages of tax return shit.

>>27498810
No, Gemini is one of two exchanged legal in Jew York. They are as legitimate as it can get.