Celsius
Earn Your Interest While You HODL Crypto
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Hunter's comment
How much have you earned the interest while you have been HODLing on for your dear life? — NOTHING, right?
Well, this doesn't have to be like this! With the latest crypto project; CELSIUS, you can earn as much as 7% interest on your crypto while your HODL on for your dear life!
CELSIUS is something that pays you and lets you earn interest immediately when you deposit BTC, ETH, LTC, XRP, OMG, and BCH to your Celsius Wallet. The earned interest is released every Monday.
CELSIUS does have CELPAY™, which allows the users to instantly send the cryptos to your friends or anyone across the blockchain!
And not to miss the best part, you can apply for the LOAN for the amount of crypto you HODL accordingly!
Interest List:
- BTC- 5.10%
- ETH - 7.1%
- LTC - 4.5%
- XRP - 3.75%
- OMG - 3%
CELSIUS is available for both Android and iOS.
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Hunter: @mtimetraveller
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Great. Thanks for approving this quick! AWESOME!
Seeing this at first i was a bit skeptical cause it looks like a centralize system on a decentralized chain, but then i had a second thought, from a long hodler perspective this will sure be a great deal
Exactly my thought. Being myself a long-long hodler, at least generates some kind of passive income.
Can i get my losses back?! 7% is too low, with the kind of vol in the market, a trader looking to borrow and sell short must have to pay way more than 7%. So i think the offer isnt great and second, keep 'em cryptos in your own wallet.
But 7% is far better than getting than nothing while hodling, well it is for me. 😊
Thanks for taking your time and upvoting and commenting on my hunt.
Have a great day.
BitGo takes the crypto and turns a profit. I really don't think it's "hodling" if an app says you have crypto that may or may not be in your wallet at the time. To me hodl means it is securely in the wallet and stays there being held by the owner.
If I were the teacher of a cryptocurrency class I would give you an A+. Well stated there.
Thanks for great grade, at least someone got my point.
This is something similar to a bank that you'll need to deposit and stay as it is to grow more and more. It is like a passive generating income. The more you invest, the more the interest will grow.
First I thought what a great Idea to hodl your cryptos but than I think where do they get the interest from? I think there is a risk involved with holding your cryptos in that wallet.
For me, I will keep my cryptos save in my hardware wallet but for everyone who wants to earn extra cryptos that is a great idea!
Good Hunt and thanks for sharing!
I really understand the concern as being myself a hodler on Celsius. But here's the thing regarding the "risk involved":
Regarding security, the app itself doesn't actually hold any funds, all the funds are stored with BitGo which is a regulated cryptocurrency custodian based in the US. BitGo keeps funds deposited with them in multiple encrypted wallets with multi-sig access, they also hold funds for Genesis, Pantera, Bitstamp, UPBit, SBI Holdings, Ripple and more.
The SDG Impact Fund (Sustainable Development Goals), a United Nations initiative has chosen Celsius as their crypto asset manager, so it's very safe.
I hope that clears up your concerns.
✌️
Regulated you say? Let me think here. Who was the last to tell me their crypto service I was using was regulated? Oh, right. It was the Cryptsy exchange. Would you like to ask me how that worked out?
It states on the product page that BitGo moves the coins in and out of exchanges and hedge funds. They claim it's collaterized by fiat money so it's up to you to decide if you trust them.
I'd rather not be greedy and keep my crypto in wallets I have control over. Maybe the whole Cryptsy thing soured me on this kind of idea but I am less inclined now to deposit my crypto in website wallets for long periods of time. Except the steem in my steemit wallet, of course. :-)
It's not a website wallet. It's an app on the phone and more secured than the most of the today's existing wallet.
However, thanks for coming across and commenting your opinion on this.
🎉
Have you seen the product's web page you linked to? Scroll down a bit. Look for a logo that says "Secured With BitGo". To the right there is text "What happens to my coins after I deposit them". There is a question mark next to that. Click on that question mark. It now reads:
"Coins may sometimes be moved in and out of exchanges and hedge funds as they are being lent out. In these cases, the coins over-collaterized with fiat."
It's not my opinion that the user doesn't have full control over the Celsius wallet. That's what the product page states as fact. My opinion is that if my crypto is moved in and out of my wallet then I want to be the only one doing it and I'd rather not take somebody's word that it's all backed by fiat.
I agree with @holovision.
Crypto hodling! I am still hoping I break free from this dip and I make more than what I invested. That aside, this is a good project for those interested and on a serious note I am almost loosing my mind with this terrible dip but solution is here, we earn as we hodl... I hope it's true as it looks.
too bad I can’t earn interest on liquid steem
Well it should be a thing too. We all would be happier.
This is a great idea and a great app for the long term cryptocurrency hodlers although I would be a bit cautious before putting my cryptocurrency in it. Not easy to trust anyone in this present world
I'm not sure, this is a brilliant or a terrible idea :)
Next to this, the loan-option is good one, that is a really cool use-case in cryptoverse. This is the reason, why grow fast the loan, credit industry, as we can see.
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