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24604294 No.24604294 [Reply] [Original]

Is depositing into BlockFi APY a good idea?

>> No.24604536

>>24604294
I use them and like them quite a bit. Especially being able to earn interest in another asset. Like earn btc interest in stablecoins or eth for example.

Good experience so far.

>> No.24605101

>>24604294
it's addicting to see daily interest accrued

>> No.24606332

>>24604294
What they said, plus zero trading fee
However not your keys not your coins and so on

>> No.24607088 [DELETED] 

Use my promo code
37a4b076
and you deposit $350 or more and maintain the balance til Jan 31, you get $50 in free BTC.

thanks gents

>> No.24608214

>>24604536
Put it into PAXG, my guy

>> No.24608277

>>24608214
I've been actually considering this. May pull the trigger on accumulating paxg.

>> No.24608322

>>24604294
would i be able to get the visa CC if i am not from the states? is it worth using if iam not from the states?

>> No.24608534

been looking to do this on my eth. any of you fags doing forsage? been earning eth on it and have eth sitting in my wallet until i am ready to level up. might as well earn interest on it.

>> No.24608643

What's the risk to interest with crypto? Seems like a no brainer to just endlessly pour all your assets into them and keep accruing interest. Why bother with a savings account instead of just converting all your money to a stable coin and accruing higher APY on them that pays out sometimes even daily.

>> No.24608694

>>24608277
dubs confirm it must happen.

>> No.24608714

>>24607088
are you white?

>> No.24608754

>>24608714
He probably isn't, but I am: e37cb1f6
T.Swiss-German

>> No.24608788

>>24608754
blue pen on left hand with timestamp

>> No.24609017
File: 509 KB, 1280x1707, IMG_5543.jpg [View same] [iqdb] [saucenao] [google]
24609017

>>24608788
checked. thanks, anon. happy doing bizness with ya.

>> No.24609068

>>24608788
You're unironically an incel

>> No.24609082

>>24609017
what books are those

>> No.24609134
File: 3.02 MB, 4032x3024, E48F1DEA-E6BC-49C8-AD26-32ED1B31128B.jpg [View same] [iqdb] [saucenao] [google]
24609134

>>24609082
Books I no longer read but use as a monitor stand

>> No.24609152

>>24609134
based

>> No.24609174

>>24609017
>no timestamp
>>24609068
you're unironically just mad that white people are finally starting to look out for one another

>> No.24609208

>>24609134
roger. thanks for the referral

>> No.24609236

>>24609068
If you're brown I'll sign up under you.
Fuck white people they're going extinct
Timestamp doe

>> No.24609250

>>24609236
>IIIIIIIMPLYINGGGGGG

>> No.24609267
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24609267

I personally feel better splitting my holdings between nexo, blockfi, celsius, and Crypto.com. It minimizes a bit of risk.

>> No.24609289

>>24609236
I'm black as an ace of spades

b2d0237c

>> No.24609317
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24609317

>>24609208

>> No.24609351

>>24608643
>stable coin
Look at the APY for stable coins. So high. They are gonna rekt when CBDCs are officially announced.

>> No.24609382

>>24609351
They're desperate for liquidity makes me uneasy desu, specially with regulation for stable coins rolling out

>> No.24609422

>>24609351
>>24609382
desu this
I don't like stable coins that are tied to fiat currencies regardless of their APY
taking the 4% hit is worth it imo, especially with the USD being flakey

>> No.24609560

>>24609351
>>24609382
>>24609422
I'm a brainlet when it comes to all of this. So what exactly is making you guys skeptical about the fact that stablecoins are tied to fiat currency?

>> No.24609573

>>24609422
Yes.

I would rather lend my BTC as opposed to stable coins. But with BTC, you don't control the keys. DeFi lending BTC would be better, IMO . Like AAVE

>> No.24609611

>>24609560
#1 purchasing power
A USDT is still a USDT at the end of the day and it loses value as the USD adjusts to new monetary policies
#2 gaycumnigger politicians
they want to bash stablecoins and make them get bank charters which could utterly fuck everything

The biggest issue is the politicians
The 10% APY will almost certainly outperform any PPP adjustments, but it's still cringe as fuck

>> No.24609625

>>24609560
>hat are tied to fiat currencies regardless of their APY
>taking the 4% hit is worth it imo, especially with the USD being flakey


Look DXY. Dollar is shitting and continue to do so as more liquidity appears into the market.

https://app.aave.com/reserve-overview/WBTC?pool=Aave

Deposited BTC earns a tiny 0.15% APY for a reason.

>> No.24609636

>>24609573
>But with BTC, you don't control the keys
I get this but I remain relatively confident that some of these larger companies won't just rug-pull, especially ones with dev names tied to them
DeFi lending I'm still not entirely convinced on but with the right collateralization features it might be okay

>> No.24609673

Avoid blockfi and crypto.com. Blockfi is going bankrupt and desperately spending the little money they have left on shill threads.

>> No.24609720

>>24608643
Alue of btc keeps increasing, meanwhile stable coins not, imagine u had 1mm in usdt now after a month its still the same, so why not brc earn interest and ur wealth keeps getting larger?

>> No.24609725

>>24609673
Proof? They just raised money recently in 2020.

>> No.24609749

Too many of these crypto interest accounts have popped up all at once for me. Celcius, Blockfi, Abra, etc. For me I will wait till one emerges from the flames. Haven't really heard of any having your money insured. Would love to throw everything I intend to hold plus convert my emergency cash into USDC. But these companies CEOs are all teenagers with barely a tooth mark on their cocks.

>> No.24609756

>>24609720
This is another legitimate argument against stablecoins
The high IQ thing to do is to ride the market swapping between stablecoins and other memeshit as the values go up and down
Sure you probably won't beat the market but who knows

>> No.24609845

>>24609725
>They just raised money
Why would they do that if they're profitable? They're spending that investor money right now paying OP while their competition has been profitable from the start without needing paid shills.

>> No.24610001

>>24604294
Anon why not just build on Fuse? You're late for 98% of entries.

>> No.24610047

>>24609351
>They are gonna rekt when CBDCs are officially announced
what is CBDC?

>> No.24610059

>>24609382
>regulation for stable coins rolling out
which ones?

>> No.24610095

>>24609845
You realise that's how startups work, right? You raise capital to accelerate your growth.

>> No.24610111

>>24609422
>I don't like stable coins that are tied to fiat currencies regardless of their APY
which stable coins do you use?

>> No.24610173

>>24610095
What the fuck are you trying to say you subhuman shill?
You have multiple options. One of them can't generate a profit and relies on burning through new investor money each year. Why the fuck would anyone choose the most incompetent option? They also have the biggest number of illiterate 1 post by this id paid third world shills.

>> No.24610188

>>24609625
so where do you get your API from?
I don't see dollar collapsing in the next 3 years

>> No.24610192

>>24610173
So how do they differ from Celsius?

>> No.24610202

>>24609611
>loses value as the USD adjusts to new monetary policies
which policies?
I don't see the USD fail over the next years

>> No.24610205

Forgive the following stupidity.
>>24609611
>#1 purchasing power
>A USDT is still a USDT at the end of the day and it loses value as the USD adjusts to new monetary policies
But unless the world moves on to a full digital and crypto economy (which I expect, hence also why I'm trying to get on this boat early), then it doesn't matter since in order for any of the money you make to be useful for MOST things, you'll have to at some point convert back to cash and withdraw the funds back into your bank account.
Do PLEASE tell me how wrong I know I am because I'm trying to understand this new world.
>>24609611
>#2 gaycumnigger politicians
>they want to bash stablecoins and make them get bank charters which could utterly fuck everything
So cash out before the policies are set to be effective?
>>24609720
>Alue of btc keeps increasing, meanwhile stable coins not, imagine u had 1mm in usdt now after a month its still the same, so why not brc earn interest and ur wealth keeps getting larger?
Well the way I saw it, is that it's essentially a better bank for your fiat currency that you're not investing or already making a purchase with.
So you have 10k
You invest 9k on stocks/crypto, keep 1k as a stablecoin until you find something to do with it.

Yes, I am retarded.

>> No.24610230

>>24610202
The usd is losing v foreign currencies right now because everyone expects a retard stimulus package which will continue to inflate everything
The PPP is dropping, it’s not “failing” but it’s definitely losing value

>> No.24610232

>>24610192
They're not making money. The only explanation is they're incompetent retards that will fail spectacularly.

>> No.24610233

>>24604294
Anyone on the waitlist for the blockfi credit card that gives you 1.5% cash back in btc? Thoughts?

>> No.24610310

>>24610205
So USDT is pegged directly to the USD
When the USD drops in value, due to inflation or exchange rates or whatever, USDT is equally impacted since you literally only have the value of 1 fiat dollar backing it.
Other crypto’s usually respond to these movements and go up in value. So if you have $10000 per BTC, it’s worth ~10000 USDT at the same time
If the US dollar depreciates by 10%, that same BTC (should) go up to $11000 while the USDT relative value becomes $9000.
This is why real-life monetary policy matters to stable coins
>cash out before the policies hit
Well I hope you’re ready to cash out in less than a year, won’t even get the 10% APY at that rate lol
That’s why regulation matters; if stablecoins eat shit because of the policies, your investment gets nuked. Not a great position to be in

Commodity-backed stablecoins would be a decent compromise desu, unfortunately everything goes ape with value fluctuations

>> No.24610387

>>24610310
So it's basically weighing the volatility of world government fiat currencies vs the volatility of crypto in the market? Because even if you $1000 in btc would properly adjust to inflation, if btcs value drops, you would lose money.
Not that I'm expecting it to drop, per say.

>> No.24610389

>>24610310
Would the interest rate of the stablecoins just go up as well? Otherwise what’s the
Point?

>> No.24610440

>>24610387
Yeah it’s literally that
Stablecoins keep money in crypto and remove the volatility from crypto but remain subject to real life monetary moves. It’s like having literal USD that’s just easier to move
>>24610389
>do the interest rates go up
No
That’s the issue
There’s no real return safeguard for them
In a hyperinflation event, USDT becomes just as worthless as a real USD

In any other situation with a normal world and economic policy I would shout “buy the fuck out of stablecoins and farm APY” but everything is in the shitpits so who knows what the fuck will happen

>> No.24610567

>>24610440
>Stablecoins keep money in crypto and remove the volatility from crypto but remain subject to real life monetary moves. It’s like having literal USD that’s just easier to move
And can gain interest more than most if not all banks I've seen. And that is what I was essentially saying about it. In this case, why EVER have cash at all, aside from when you need to of course, spend it?
Sounds like immediately converting your income into a stablecoin that gains interest until you decide to move it is better than having it sitting in your checkings/savings.

>> No.24610600

>>24610567
Yes you get more interest but like I’ve said the PPP adjustments start to impact the returns, yes it’s worse for actual cash in actual banks because <1% lol but there’s more of an argument to be made to hold BTC and take a 4% APY hit in exchange for having returns on whatever Bitcoin does in the marketplace
But 100% absolutely it is better to have your savings in a stablecoin and sitting somewhere generating the gamer 10% interest rather than have it sit as cash. If you don’t want “real” crypto, USDT and co is the next best thing.

Just don’t get rugpulled, that’s the only thing. I don’t know a whole lot about the actual tech regarding pseudo-defi like blockfi but if you retain control over your tokens/keys then you’re largely safe, probably safer than Bitcoin

>> No.24610625

>>24610440
I missed selling $20 link.... I have to take profit next next.... so wtf do I sell it for? Btc, eth or real estate?

>> No.24610665

>>24610625
>what do I sell it for
Your choice, bud
USDT, BTC, ETH, whatever you want. If you want growth, probably another crypto or USDT yields. If you want wealth preservation, real estate or precious metals or whatever other hard asset.

There’s too much shit going on to say anything even remotely concrete.

>> No.24610709

>>24610665
Thanks honest pilled anon. If link ever comes out staking, I’ll probably never sell. Otherwise, got to take some profit next bubble top.

>> No.24610999

>>24610709
If it’s any consolation I’m just trying to be a realist, I’m not smart but there’s pervasive greed happening right now which is driven primarily by market instability imo
I’m exiting cash as fast as I can but I hate everything that’s happening desu, it all feels overvalued and nothing stands out as a good buy but I will get sodomized if I hold cash

Crypto and PMs are probably the better choices for relative poorfags and I’ll probably be following that path after maxing out my tax-free accounts on ETF buys
Aside from that, I’m just going to keep putting in time to build personal skills so that I can do high-value work in the future, no matter what happens
My real property will always be worth 1 of itself, same with real crypto.

>> No.24611410

>>24610059
In the USA they're rolling regulations for stable coins pegged to the us dollar, lying the groundwork to unequivocally fuck all stable coins in the ass by requiring them to have bank charters to offer their services to us citizens.
Google it

>> No.24611705

>>24604294
yes I do. I actually split 50/50 blockFi & Celsius, just in case but both seem legit. Just watch some interviews with Zac Prince of Alex Mashinsky, they're legit.