/biz/ - Business & Finance

>>29853484
> I don't understand something, therefore it must be a scam

6% is nothing
im making 50% and im not even taking much risks

>>29853514
Im just saying it seems too good to be true. Wheres the catch?

>>29853484
Celsius is not a scam. The bank is the scam. You keep your money on the bank, and every year it loses 2% of its purchasing power.

>>29853484
Is it really that hard do make it in bongland?
Do the royals shit on commoners even today?

>>29853749
Read their white paper or watch any of the videos the CEO posts. They come out weekly. DYOR. Celsius makes more money from them holding your crypto than they pay you in interest.

>>29853818
It’s a bot to generate likes

>>29853952
As a guy just waiting around with 200k in cb pro thats split evenly between btc, eth and link. Is there any reason not to?

Have you seen anything or learned anything that makes them seem untrustworthy?

Is Celsius a decent online wallet for burgers?

>>29853952
How are they making money?

>>29853484
6% per what?

>>29853484
it better not be a scam i'm planning on parking 500-600k there after i make it

>>29853484
It is a scam
the infamous 0xb1 wallet is them farming shitocins with their users funds
they collect 100% apy and give you back 20% or whatever and that's the retard tax
if they get rugged you're fucked

>>29854093
we don't get access to the CEL token, so their best rates aren't available to us, but you can still get 10+ % APY on stable coins (it was 12.5 a few days ago, just dropped for reasons i'm unsure of)

>>29853749
Why is it? Traditional banks used to have 16% interest rates on saving accounts.

>>29854259
That makes alot of sense. Thank you.

>>29853514
I don't understand math so I know it's a scam

>>29854133
Take out loans and short with your coins, probably.

>>29854133
They give you 6% and while lending your coins to degenerates at 12%. Everyone wins.

>>29854870
Why is the LINK apy on aave much lower then?

>>29854993
nobody borrows link because that would be a retarded thing to do
celsius are jew scammers simple as
typical usurious middlemen playing their historical role

>>29854055
>Is there any reason not to?
depends how important sovereignty is to you. by nature of depositing into CeFi/CeDeFi you are giving away control of your funds. Not necessarily a bad thing but it should be considered.

>>29855116
>nobody borrows link because that would be a retarded thing to do
Explain?

>>29853484
>6% apy
Aww that's Really cute anon

>>29853484
Celisus acts like an investment bank, 6% interest in practically nothing compared to what they make from investing your money

>>29855310
if you thiink bitcoin is going to go up, would you take a loan denominated in BTC? That would be pretty stupid, because you are effectively short

when somebody borrows link, they're taking out a loan that they will have to pay back IN LINK-- it's an onchain short. Deposit rates are low because nobody is dumb enough to masively short link onchain

>>29855407
If you want to gamble on Uni Swap food ponzis go ahead. Just looking for a place to park the big 3 I've accumulated and make money off of them.

there's no way celsius isn't a scam that's going to go belly up at some point. don't put in more than 10% of your stack there

Look I've been using Celsius for like 2 years now, they have been consistently paying out all that time. They were paying out in the 2018-now lulls, if they were unprofitable they would have been gone a long time ago. Now were bulling there's absolutely no way they are going insolvent any time soon.

I hold around 250k between Celsius, Crypto.com and Blockfi. I’m very comfy with all the interest gained so far

>>29855611
yes yes there's zero risk of any kind. totally free money bro

>>29854870
So it's BitConnect 2.0

>>29854338
>16%
lol nice one

>>29853484
>6% APY
>OOOOMMMFFFGGG HOW IS THIS POSSIBLE
This is an ad.

>>29853484
This is why you're still a trolley dolly.

>>29856104
You’d be surprised. Pic related is the federal funds rate but still. Certain points in history 16% wouldn’t have been out of the question

KELVIN CHADS REPORT IN

>>29853484
Check

>>29853484
Not your keys

People have to realize that cryptocurrency in general is making these things possible.

Monetary network is not a meme. The ability to build non-physical fiscal infrastructure adds to this.

>>29854093
>>29854295
I'm an Ameribear and hodl some CEL in my account, got it via Uniswap sometime before the fees got out of hand. Got NEXO the same way when it was way cheap, CEL return on principal has been decent. For each you can't earn in the native token in lieu of the staked funcoins, but with CEL you do get paid in kind for that stake. The NEXO token is good for taking loans out against and getting the higher loyalty tiers. Both are good imo, and always keep an eye out for promo codes, especially CEL. You can snag $20 btc promos every couple of weeks with easy steps, like sending a few hundo in and leaving it for 30 days.

>>29853484
>6% APY so it must be a scam
You used to get nearly that much for keeping your FIAT at the bank.

>>29853484
Blockfi will give 8.5% for holding fucking USDC with them. Am I reading this correctly?

>>29853818
Making it in bongland is all about nepotism and who you know. There's almost zero social mobility.

I won't touch any of these until it's completely decentralized

sir gay give steak

>>29855599
I'm staking on a coinbase listed coin, still 6% is shit do some research

>>29858264
I have 40 ETH on CB but I didnt think staking started yet. What am I missing here?

>>29854870

>>29853818
I've lived and worked in the UK, Aus and Canada. UK is the shittiest place in the world to make money

It's probably a scam here's why.
>Low transparency. Who are these "hedge funds" paying way over market for borrowing crypto
>Rates are much higher than DeFi lending
>Withdraws are centrally managed and require their authorization
>They encourage you to get paid in their funny money token which doesn't cost then anything to make
>The token is worthless outside of their platform
>They actively push for new members with generous rewards/coupons
>Their head of crypto lending was a literal pornstar with no experience in banking/finance
>They claim traditinal banks earn 20% on their money but keep 19.5% but this isn't close to true.

Their rates are low enough to keep the Ponzi going for a long time however. I don't trust them with my money but I don't expect them to rug anytime soon.

>>29853484

Borrowers pay a lot more in interest rates so thats how you get paid.

listen to some mashinsky interviews he's unironically based and looking out for us as best as he can

>>29857890
There are many companies doing the same thing.
Ledn, BlockFi, CoinLoan, Nexo, and others all give 8-12% APY on USDC. It's not a fucking scam.

>>29855678

This is also how traditional banks operate dumbass

>>29860002
>Low transparency. Who are these "hedge funds" paying way over market for borrowing crypto
Who is borrowing the dollar in your bank account
>Rates are much higher than DeFi lending
Rates are competitive based on yhe market
>Withdraws are centrally managed and require their authorization
What is aml and kyc
>They encourage you to get paid in their funny money token which doesn't cost then anything to make
Lol have ypu seen thr dollar printer go brrr
>The token is worthless outside of their platform
It is worth something on their platform. Which is its purpose
>They actively push for new members with generous rewards/coupons
Onboarding users by promo is a legit and proven method of growing users which is healthy business practice.
>Their head of crypto lending was a literal pornstar with no experience in banking/finance
Hurr durr a woman had sex
>They claim traditinal banks earn 20% on their money but keep 19.5% but this isn't close to true.
Its likely more and you know it.

>>29853484
retarded zoomer.
BlockFi and Binance and all the others are a scam?
no, it's just a minor risk reward for hosting your assets in a non insured exchange.
15 years ago you'd get this rate at any bank, easy.

>>29860359
>>>29860002 (You)
>Who is borrowing the dollar in your bank account
Mortgage borrowers is a big one, point being it's completely auditable, regulated and fairly transparent
>Rates are competitive based on yhe market
On DeFi you can borrow USDC for 6%
>What is aml and kyc
I'm sure bitconnect said the same thing.
Also they presumably did KYC before you opened the account.
>Lol have ypu seen thr dollar printer go brrr
CEL is not comparable to dollars. Dollars are accepted by everyone, Cel is just some shit someone made up. If you want I can trade you some monopoly money if you don't agree.
>It is worth something on their platform. Which is its purpose
And when they rug it will be completely worthless
>Onboarding users by promo is a legit and proven method of growing users which is healthy business practice.
Identical to a ponzi.
Hurr durr a woman had sex
Point is she's completely inexperienced.

Trusting celcius is like trusting a bank during the 1920s. There's no independent audits that establish their full liquidity. There's no regulations, normal banks have so much regulations they require teams of lawyers just to operate. There's no assurance if things get choppy.

>>29855310
the time to do it was last week if you were clairvoyant and shorted the tippy top of link before the market crash, doing it now is just asking to get burned

>>29861131

You can also choose to get paid in kind instead of CEL tokens.

>>29853484
Do you know how much money banks make lending out peoples idle fiat?

they will eventully get regulated since they are centralized

>>29860242
i have 17k in usdc sitting in kucoin i can send it to something else and just start making money off it? does it have to be locked it for a year or is it like a crypto bank?

If you're new to Celsius use referral code 164235f947 and do KYC + deposit $200 of crypto for $30 BTC and use promo code WEB40 for $40 more free BTC. That's $70 free!

>>29855495
You are clinically retarded

>>29861131
Ah Im only pulling your leg. Its as legit as the rest of the scams is all I mean.

So what about other exchanges you can earn interest from? Are they safe or is it all of them?

>>29862353
bls

>>29861806
There's no lock up period.

>>29861395
People are so used to getting chump change that anything else must be a scam.

>>29863540
are they non kyc?

>>29853818
You don't get to see the Royals unless they're driving into you in their Range Rover

>>29863627
no they kyc