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26136344 No.26136344 [Reply] [Original]

Anyone been using blockfi? Is there any downsides hodling on here or should I just keep my coins in my trezor?

>> No.26136638

Also interested.

>> No.26136769

>>26136638
Thanks for bumbing bro. If you do get account be a real one and use my referral code:1f01056b

>> No.26136771

If you trust them to custody, yeah it's pretty decent. Defi has better yields though, especially if you're willing to search for it or use leveraged yield farming.

>> No.26136805

Used it for about a year. No issues so far.

>> No.26136900

>>26136344
i've got 2.5 btc with them so far
this is part of my stack and not all of it, so if i got rugged i've still got more to hopefully make it with
but i've got bitcoin i got from 800 bucks that i never want to sell (fuck capital gains) and i want to try and make money off it somehow
what made me trust them was that it's backed by winklevoss twins (gemini) and featured on raoul pal's show

>> No.26136951

>>26136771
>>26136805
Are there any fees involved? Planning on keeping my coins this bullrun and accumulate during the bear market. Hopefully having enough by the next golden bullrun to make it.

>> No.26136989

>>26136771
>defi has better yields
not by a long shot on btc & any gains get wiped out by gas jumping 3x a week to keep apy above blockfi's steady rate
>>26136769
grimy pajeet

>> No.26137043
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26137043

I use celcius; more assets are supported

>> No.26137064

>>26136989
Sorry for trying to make an extra dollar jew

>> No.26137112

>>26136344
In my opinion they are the most legitimate of all the cefi solutions. They have huge backers to the point where I feel like a rugpull would be next to impossible and their rates aren't ridiculously high where it makes you feel like they are doing some ponzinomicsin the background. They also work with the CME so I feel safe putting my money there.

>> No.26137342

>>26136900
>>26137112
Should I go ahead and put everything in? or can I still make a decent profit with just half (0.6 btc,1.5 eth) just to be safe?

>> No.26137368

>>26136989
>>defi has better yields
the defi gains on btc (as wbtc) is complete shit
also swapping between btc and wbtc would be considered a "taxable event" (it shouldn't be but fuck IRS boomers)

>> No.26137418

>>26137342
i'm not sure desu
i've only put in what i feel like i could lose but still make it with my remaining 75%

>> No.26137716

>>26137043
>noah
hello, jew

>> No.26137748

>>26137342
Yeah all in with any provider or smart contract seems risky. If you want to make more maybe consider a second or third lender and split your holdings. You don't want a single point of failure.

>> No.26137853
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26137853

>>26137716
Oy vey! Some of us want to make money the smart way goy

>> No.26138218

>>26137748
I think that might be the way to go. I used a crypto interest calculator and it says if I split between blockfi and Celsius, I can get $33,386 return in a year. Is that fiat paid out to me? Or just my crypto accumulating?

>> No.26138302

>>26138218
BlockFi allows you to earn in kind or you can earn all of your interest from various coins as one single coin including stablecoins. For example earn your btc interest as USDC or eth.

Celsius is just in kind and then you can send somewhere else to convert.

>> No.26138304
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26138304

Lmao

>> No.26138341

>>26138304
Yeah you can never escape the taxman. Unless you are a monero chad.

>> No.26138345
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26138345

>>26136344
Rumors of insolvency. Don't do it anon. Not your keys not your crypto. Why do you want boomer gains anyways? Not worth the risk at ALL.

Wait for De-Fi to mature.

Or, you know, dHEDGE. (DHT)

>> No.26138549

>>26136344
I've used it since December just for USDC interest. 8.6% interest beats any US savings account. Been thinking about trying out voyager and celcius as well instead of trusting just one account

>> No.26139113

>>26138549
is there tax on crypto to stablecoins?

>> No.26139158

>>26136771
Is BlockFi something I should tell my parents to use for their ETH stack (they've got a decent sized stack) Currently they keep it on an exchange even though I tell them to buy a hard wallet

>> No.26139205

>>26139113
Depends on country. It's crypto to crypto you gotta look at your laws.

>> No.26139261

>>26139205
USA. the guy sais USDC, so was curious if USD TO USDC would be taxable. Doesnt make sense to me if it is, but maybe the interest is?

>> No.26139406

>>26137853
mazzletov!!

>> No.26139737
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26139737

I have roughly 60% of my BTC/ ETH stacks on blockfi for about a year now. No complaints here, but I do hold my own keys on the other 40% just on principal. Its up to you to figure out your own risk/ reward

>> No.26140328

>>26139261
Trading usd to USDC isn't really taxable because there is no capital gain. You still have a dollar when you bought and sold. Earning usdc as interest is income though and you do pay tax on that.