blockfi or celsius reddit

The answer is clearly the higher interest rate (Option 2). One thing to keep in mind is that you can use the value of your crypto assets stored with BlockFi to make principal and interest payments at anytime. Yesterday I made a post claiming that BlockFi is better than Celsius because of the compounding interest. BlockFi will communicate any rate changes prior to these changes taking effect. Choose what company that more trusted. Huge investors and recommended by many I was on … New comments cannot be posted and votes cannot be cast, More posts from the CelsiusNetwork community, A new way to earn, borrow, and pay on the blockchain. blockfi has fingerprint login while celsius asks you for 2 fa and pin every tome blockfi has multiple whitelist adress support while celsius only suports 1 at a time and only for the adresses you have some balance. Or in what way do they stop folks from doing this to compound their gains after a bit of time. Where can I … They're both great services and anyone in this space should consider both to diversify their holdings. They’re very similar, I’ve used both but I prefer BlockFi. You have unlimited FREE withdrawal in Celsius while only 1 free withdrawal in BlockFi per month. But Celsius has locked addresses. When do I start earning rewards? Your math is off. Bitcoin: Users can earn up to 6% in annual interest on deposits under 2.5 BTC, and 3% on any BTC amount above that 2,5 BTC threshold. ... help Reddit App Reddit coins Reddit premium Reddit gifts. A new feature not mentioned in this thread is BlockFi's recurring trades. Option 2) $100 at 6% compounding monthly for one year is $106.17. As reported in August 2020, BlockFi closed on a $50 million Series C funding round led by Morgan Creek. Additionally, where applicable, the origination fee for new loans originated during the promotion period may be … Some indirect services might affect your decisions too, ie; being able to trade on BlockFi and so on. So that's great for Celsius if you want a smaller loan. Compare the price of BTC when the buy is made. So far, BlockFi support has been well above average. ... Edit2: If you're liking this post, follow me on Reddit so you don't miss the next one. There's a big spread between what the going price on exchanges are and what BlockFi will quote you. With a BlockFi Interest Account (BIA), your cryptocurrency can earn up to 8.6% APY. Actually is very simple if smb wanna stick with Btc only and dont like any shitcoins always stick with BlockFi otherwise Nexo and CDC . Press question mark to learn the rest of the keyboard shortcuts. The BlockFi Interest Account is the best way to start earning interest on crypto. The company was founded in 2017 by Alex Mashinsky (CEO) and Daniel Leon (Founding President and COO). I deleted it 10 minutes later because it is a Celsius subreddit after all. BlockFi is paying interest on over $50M worth of crypto and is backed by reputable industry players. Celicus I use for all tokens except byc and eth. While Blockfi is compounding, that interest is paid monthly. $100 at 4.51% APY is $104.51 after one year, and $100 at 6% APY is $106.00. There are no hidden fees, no minimum balances, and no reason to wait. The biggest thing for me is that swissborg is community centric, Celsius and blockfi both seem to have heavy VC backing - I think swissborg will be able to squeeze more benefits for the users in this sense. BlockFi announced that it has raised another $50 million led by Morgan Creek Digital ahead of the launch of a Bitcoin rewards-based credit card.. BlockFi Funding Amid Global Uncertainty. Obviously it would depend on how much you have in your BlockFi account, but it seems like it could take a decent chunk of time to recoup those fees, if the amount you hold is small. But after testing both I think I was wrong. So now I have like 1-2 dollars worth in 5 coins and I can’t even withdraw them. Morgan Creek Digital led BlockFi’s Series C funding round. However, Celsius loans are not available in like half the states. And tonight, whoa, I get an email that my withdrawal went through. Celsius on the other hand, is non-venture backed, had an equity fundraising round of those passionate about its ethos, and is all about free withdrawals and user's best interest, so supporting them with your assets is better for the space overall. Those rates are competitive with the maximum interest rates offered by sites like BlockFi (8.6%), Celsius (12%), Crypto.com (12%), and Nexo (10%). Best support ever. Interest accrues daily and is paid monthly. Perhaps there's no extra scrutiny because it's a small amount? VS BlockFi @6% Paid/Compounding MONTHLY. F or the tenth anniversary of the Forbes 30 Under 30 list of business leaders paving the way for future generations, eleven bitcoin and blockchain leaders were added to the list. There are no hidden fees, no minimum balances, and no reason to wait. Look AUM and News coverage. Final Thoughts: Is BlockFi Legit? BlockFi: Use this link or enter referral code: c8aac3a1 when prompted. CDC is sneaky. I like Celsius for BTC and dYdX for stablecoins. Compounding is nice, but it's shit compared to interest rate, mate. Yesterday I made a post claiming that BlockFi is better than Celsius because of the compounding interest. On BlockFi I entered an amount, a bitcoin address, then pressed a button and that's it. It’ll be interesting to see what, how, when, and if they’ll address any of the issues we’ve raised. https://celsius.network/ So now I have like 1-2 dollars worth in 5 coins and I can’t even withdraw them. From the few people that I have spoken with recently, they opened accounts at BlockFi, Nexo and Celsius mainly to earn yield/interest on stable coins and their BTC holdings. Once the rest of the smart yields are released we should be up there in the 20s with Celsius. With a BlockFi Interest Account (BIA), your cryptocurrency can earn up to 8.6% APY. If you want a loan, Celsius requires a $1000 minimum loan while Blockfi requires a $5000 minimum loan. If you need high liquidity with your assets, Celsius still seems to be a better choice even though there are inconvenience too. Does big sweeping changes without telling the community (yesterday, for example). Thank god I still have access to that bitcoin wallet. So again, the 3 platforms I have in heavy rotation are BlockFi, Celsius Network, and CDC. :) Thanks to the great response so far I'm eager to make more posts like this. You can set up dollar cost averaging on BlockFi which is great for passive investing. Or is it only one-way? Once you complete the quick and easy KYC process, you will have access to your compound interest-earning account. Blockfi has a 6% payout financed by its investors to bring in new users. You get your interest weekly in Celsius while monthly for BlockFi. For example, BlockFi is not available to clients located in sanctioned or watchlist countries. BlockFi still has higher apy on BTC, LTC, and ETH though. As the industry matures, Prince expects that BlockFi will likely have to lower interest rates on its savings accounts at some point, but rates have held at 8.6% for more than a year. Celsius pays interest weekly. Currently, you can’t earn in Cel tokens where I live, but the price has performed really well in the past 6 months. Nexo pays daily on stable coin and loans easy to get compared to both. Cred Earn pays the best. What sort of lending apy have you achieved at dydx? We’ll each get $10 worth of bitcoin when you deposit in $200 or more. By using our Services or clicking I agree, you agree to our use of cookies. Also don't put all your eggs into 1 bowl. Nexo: Use this link or enter referral … Cookies help us deliver our Services. So after buying some USDC on coinbase pro and depositing some USD into blockfi to receive GUSD I've found that blockfi is the cheapest since they will cover the fees to send the USD stablecoin to Celsius. https://celsius.network/ Only a small sample, but they are only putting 10% to 20% in the networks native token trying to earn extra interest. Hey All - I've been a traditional VSTAX investor and am just getting my feet wet with Crypto (HODLER). BlockFi still has higher apy on BTC, LTC, and ETH though. Daily compounding interest is the best kind of interest there is; because, Math. What are the Celsius Tokens (CEL) used for? Paying Off My Crypto Backed Loan Early. But any BTC I get goes to BlockFi. The BlockFi Interest Account does not … Does Celsius support Binance Chain (BEP-2)? Interest accrues daily and is paid monthly. Celsius however does have a slight lead in usdc interest (for now, they change it frequently) of 8.69% instead of 8.6%. You're using APY which already takes compounding into affect then you're compounding it again. New comments cannot be posted and votes cannot be cast, More posts from the CelsiusNetwork community, A new way to earn, borrow, and pay on the blockchain. Instead of holding onto your coins and waiting for the most profitable moment to buy/sell, now you can sit back and let your holdings do the work for you. I found the withdrawal process on Blockfi sketchy. Availability can be viewed here. A few days back, I talked about how to earn interest in Bitcoin, and based on our research, BlockFi came out as a widely used and trusted product.In the crypto-verse, an undisputed rule is “You are your bank”, and services like BlockFi raises a lot of questions, as we are literally lending our Cryptocurrencies like “Bitcoin” to a 3rd party to earn interest. Now, it has increased those interest rates to 6% and 12%, respectively. The BlockFi Interest Account is available to clients worldwide, with a few exceptions. Is Your Money Safe on BlockFi? BlockFi clients who take out a new loan for $10,000 or more may be eligible to receive a bonus deposited into their BlockFi Interest Account in the same currency as posted collateral. BlockFi Interest Account Review and BlockFi Interest Rates. How much did you withdraw? How do I activate a promo code? Option 1) $100 at 4.51% compounding ***daily*** for one year is $104.61. The APR of each is lower, then when compounded the result is the APY. It takes less than two minutes to sign up and create an account. Remember that, If you're looking to compare with CDC or Nexo as well, I've done some initial comparison here.

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