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/biz/ - Business & Finance

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30419621 No.30419621 [Reply] [Original]

Is it a smart move to keep my HODL portfolio in Blockfi? I'm probably not going to sell my BTC for years. Might as well keep earn interest on it, no?

>> No.30419850

>>30419621
thats what I do what wtf do I fucking know

Also getting paid interest in usdc so when the market crashes Ill have dollar coin to buy at lower prices. At low prices ill choose to get paid in the coin im holding on there to maximize upside gains during the next bullrun

>> No.30419892

>>30419621
i'd say at least cap out that 2.5 BTC for 6% yield bcos that's a lot
I use my coins as collateral tho since I trade

>> No.30420378

I would use celcius.network over all the others.

>> No.30420454

>>30419892
so what you do... take loans againts your crypto to buy more crypto?..... how do you pay loans .... with more loans??..

>> No.30420540
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30420540

>>30419621
yes move now

>> No.30420546

>>30420454
Just stick your 2.5 BTC in there and treat it like an interest account. No loans.

>> No.30420614

>>30420454
Presumably some people still have jobs.

Shocking, I know.

>> No.30420694

So when I receive interest is it paid out in BTC? What about the card?

>> No.30420731

>>30420378
Why? Do they have better rates?
I'd prefer Blockfi because it's ensured and it has bigger names behind it.

>> No.30420770 [DELETED] 

You are anon, you didn't start shit.
Stop with the stupid tangents that aren't about earning cash
this shillers never know good project to advertise
>Buy no worry about it, have SWG and wait for swirge development

>> No.30420855

>>30419621
Maybe a portion. We still don’t know how they would do in case of a bank run type scenario

>> No.30420959

not your keys not your coins

>> No.30421192 [DELETED] 

If anyone is interested in Celsius sign up with my referral code: 157641f7ae
We both get $30 when you deposit $200 worth of crypto into your wallet.
Once in your account use promo code WEB40 and THEN put the $200 in and hold for 30 days you will get $40
So a free $70 for holding $200 worth of crypto in there for 30 days.

>> No.30421568
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30421568

>>30420959
>not your keys not your coins

>> No.30421769

>>30419621
Question, if you guys have 2.5 btc there, do you guys choose your interest payment in BTC or FIAT? I'm assuming BTC, right? Kinda want FIAT passive income for monthly expenses, but I assume it's smarter to choose higher APY coins than BTC if i were to do that

>> No.30422144

blockfi pays out in btc

>> No.30422197

>>30422144
>>30420694
you can choose BTC or USD

>> No.30422258

>>30421769
you can choose to get paid out in whatever they offer. put up btc,eth,link,usdc get paid in btc or link or eth or usdc you can choose

>> No.30422276

I have 70% of my stack in there. I'll take the risk of getting rugged by them.

>> No.30422343

>>30420731
Celsius has better rates and allow more crypto. I have my Uniswap and Chainlink in Celsius. But I do prefer BlockFi more and thus keep my Bitcoin and USDcoin in there.

>> No.30422493

I'm just gonna wait until coinbase starts letting people stake ether because that's most of my stack.

>> No.30422505

>>30422197
>>30422258
They take a 1-2% fee for swapping interest payments to a different currency.

>> No.30422645

>>30419621
Read the ToS. You're literally shit to them. They can change the ToS without notifying you, for example. If you miss a payment, because of ToS change they didn't tell you about, your money is theirs. etc.

>> No.30422870

>>30422645
>They can change the ToS without notifying you
That's in every single ToS.
>If you miss a payment
I plan on lending, not borrowing.

>> No.30422996

>>30422505
Ah, I didn't know that. So it's probably only worth to get paid in the coin you put in

>> No.30423214
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30423214

Also, how the fuck do taxes work on this? Do you have to pay tax for the interest you earned, and then pay tax again once you sell it? if so, that is disgusting

>> No.30423278

>>30423214
Better than the typical savings account that pays you 0.00001% APY

>> No.30423305

>>30419850
It's much better to get payed in BTC since it will go to 100k at least

>> No.30423334

yes goy, you have nothing to worry about. dont google (((rehypothecation))) by the way

>> No.30423333

>>30422870
>I plan on lending, not borrowing.
You have to keep a high enough LTV ratio.

>> No.30423389

OK. So they got me. For the first time ever, just moved 2/3 of link stack over to blockfi today..... 5.5% is just too tempting..... especially when link is doing jack shit right now.

>> No.30423487

>>30420959
An you are gonna sacrifice getting 6% per year cause of fear?
Shitty financial advice.

>> No.30423612

Just deposit a suicide stack. No fear in that really

>> No.30424224

>>30423214
thats how US taxes work everywhere, no use in seething every time to hear about it, faggot

>> No.30424271

>>30420378
hodl in both and mitigate risk

>> No.30425126

>>30423214
thinking about apy and selling ... pick one

>> No.30425373

>>30421769
i get paid out in USDC since it makes taxes easier
plus if it dips i could buy more

>> No.30425437

>>30423214
yeah it's bullshit
you get taxed when you get the new btc, but also when you sell that new btc it gets taxed as well

>> No.30425446

>>30425373
is what this anon said true though? Because if it is, it doesn't seem like it's worth it ->>30422505

>> No.30425477

>>30423612
i put 2.5 btc on blockfi but that's only a quarter of my stack so if they rug i won't lose all my golden tickets
i don't trust celsius or crypto.com or nexo though
any of the ones that have tokens for no reason i think are scams

>> No.30425526

>>30425446
idk i make like 500-600 a month from blockfi and 1-2% of 500 isn't a whole lot
for me it's worth 5 bucks to not have the tax headache

>> No.30426395

>>30425477
Nexo at least pays out a yearly dividend to coin holders, and gives discounts on loan APR for the amount you hold.

This is your hourly shill, carry on.

>> No.30426769

>>30426395
I can't trust Nexo anymore after what Simeon did and their continuous Zeus capital fud.
It's going to end badly one day.
Even without that issue, I don't want to give business to such a shady company who tried to short Link.
They hate Sergey and the Link Marines.