Over the years I’ve acquired about 600k worth of crypto. Current portfolio is about 15 BTC / 30 ETH. The vast majority are on hardware wallets but it’s always bothered me that they just sit there and do nothing. Recently I heard about crypto lending platforms like Blockfi / Nexo that are offering outrageous interest rates (north of 8% on stable coins, ~5% on other crypto). Obvious downside is you give up controls over your keys and these platforms aren’t FDIC insured. So if there’s any shadiness going on…. AAAAND ITS GONE! Would you move your crypto to these platforms? Household TC - 475k NW (w/out crypto + private equity): 1.3M
dip ya toes in
Been in blockfi for a while if that helps. Not fdic insured no but Gemini isn't exactly sketchy.
How much did you put in if you don’t mind sharing and what % of your crypto portfolio is it?
5% to start, almost all now. The interest is hard to beat
Same situation here. My conclusion is to put all crypto in 3-4 different lending platforms to diversify risks
Which ones? Blockfi / Celsius / Nexo?
I recently put in blockfi and Celsius, but only a very small percentage. Being very cautious. Both of them have full KYC. Your hardware wallet is yours - no one knows what’s in it.
I use nexo, will open a blockfi and celsius account later
If you don't, just imagine what your investment will turn into. The only way crypto goes next level is if people actually start using it. Be a cog in that wheel my friend
Also, there doesn’t seem to be any security issues with Kraken.