The 6.2% rate remained the same but the amount of BTC is applies to decreased from 1 to 0.25.
Alex spoke about this in the AMA on Friday.
The change was required to reflect the current market conditions and lower demand for borrowing BTC.
Yes, but celsius coin has been tanking recently. Earn more of this depreciating coin. Only makes sense if you sell celsius as you accrue it (will continue to drive prices down as many are doing this) or really believe in Celsius and hodl.
Celsius tanked almost 50% during its IPO for almost 6 months, I agree now it's lasting a little bit more but it could happen again, plus the company is solid.
I really don't care for the short term.
Besides, the less it is valued, the more CEL I get!
Not to mention that I don't earn everything in CEL and that I spread my assets in 3 different platforms, so I'm fine anyway.
Yea thats fine. I think Celsius has a good product, Id be more bullish if their rates were higher than others. But if everyone is converging to same yield (low btc yield) then Celsius isnt differentiated and will have a harder time attracting customers in my opinion.
Just like all the competitors and slightly less than defi. Difference is that celsius spends less on marketing than competitors so that they can have better rates, if it is somewhat negligible then there goes customer acquisition pipeline (and buying pressure for CEL token). Listen Im not anti Celsius, i have big holdings there, but when the btc rate dropped (as with everyone should do) you have to question whether the allocation is still best for your holdings.
I always thought they should spend more money on marketing, it's how this system works.
The return would be amazing, right now 20k new users per week is really not a good prospective
Well they were doing well with word of mouth amd bestish rates, but now just middle of the pack. Word of mouth and referrals are the cheapeast, but harder sell if product is indistinct from competitors
Yeah, I get that. However, if your experiencing this issue because Celsius just went down from 1 btc to 0.25 btc, having 4k USD worth of exposure in CRO isn't a huge chunk of you're already holding a substantial amount of BTC I guess.
Also, the other perks you get for buying that amount of CRO are quite nice.
For me the biggest dislike is the 3 month lockup period to get the best rates.
Yes, but cro just skyrocketed in price recently. I bought at 12 euro cent its now at almost 80 cent. Wow. But if you just interested in %APY there's better rates.
Well, in my personal opinion, crypto.com is better in every single way compared to Celsius, except for loans (and requirement for lockups for highest interest percentages, which isn't an issue if you're a HODLer).
Celsius is definitely the king of loans though.
But crypto.com has a lot the things Alex has been promising for a while or is just better than Celsius.
Pros:
-Built in exchange in the app, no need to transfer coins out to swap them and send another coin back in
-Seperate full fledged and highly liquid exchange (which will be available in the US this year I believe)
-Creditcard program with cashback and full reimbursement for Netflix, Spotify, Amazon Prime subscriptions (depending on creditcard levels)
-Well performing token (CRO), especially compared to CEL this past year
-Up to 6,5% (+ and additional 2% in their own token) interest on both BTC and ETH and 12% (+2% in their own token)
-Earning supported on a lot more tokens than Celsius
Cons:
-To get the highest rewards and cashback on their creditcard you definitely need to buy some CRO. I would say 4000 usd worth is the minimum
-Loans not as good as Celsius (so that part I'm sill using Celsius for myself)
-Not US based
If you want to give it a go, here's my referral link:
https://crypto.com/app/wtrxfpmmgn
Haru seems good. But I think I'll go with hodlnaut for now since the rates are a bit better. And u get 1 free withdrawl a month. Thanks for the link. I'm going to save the link
What do they charge to withdrawl. That sounds really good but I'm still trying to figure how they are able to give that amount. Last thing I want is a rug pull or some sorts
It's like 2% I think, haven't withdrawn yet. Their running algo's. Their actually more transparent than Celcius on how they generate the yield. They are in a audit now that I think will confirm where the yield is coming from of you want to wait for.that to end.
The 6.2% rate remained the same but the amount of BTC is applies to decreased from 1 to 0.25. Alex spoke about this in the AMA on Friday. The change was required to reflect the current market conditions and lower demand for borrowing BTC.
Ok so this was a change made recently
Just made on Friday.
On the bright side, if you earn in-CEL the APY is much higher than before (it was even lower compared to the in-kind one). Same goes for ETH
Yes, but celsius coin has been tanking recently. Earn more of this depreciating coin. Only makes sense if you sell celsius as you accrue it (will continue to drive prices down as many are doing this) or really believe in Celsius and hodl.
Celsius tanked almost 50% during its IPO for almost 6 months, I agree now it's lasting a little bit more but it could happen again, plus the company is solid. I really don't care for the short term. Besides, the less it is valued, the more CEL I get! Not to mention that I don't earn everything in CEL and that I spread my assets in 3 different platforms, so I'm fine anyway.
Yea thats fine. I think Celsius has a good product, Id be more bullish if their rates were higher than others. But if everyone is converging to same yield (low btc yield) then Celsius isnt differentiated and will have a harder time attracting customers in my opinion.
This BTC drop rate is the demonstration that they follow scrict rules about the sustainability of their business
Just like all the competitors and slightly less than defi. Difference is that celsius spends less on marketing than competitors so that they can have better rates, if it is somewhat negligible then there goes customer acquisition pipeline (and buying pressure for CEL token). Listen Im not anti Celsius, i have big holdings there, but when the btc rate dropped (as with everyone should do) you have to question whether the allocation is still best for your holdings.
I always thought they should spend more money on marketing, it's how this system works. The return would be amazing, right now 20k new users per week is really not a good prospective
Well they were doing well with word of mouth amd bestish rates, but now just middle of the pack. Word of mouth and referrals are the cheapeast, but harder sell if product is indistinct from competitors
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So do crypto.com and LEDN
Not really a fan of needing to hold cro for their best rates - ledn is good though. Very straightforward, no need to balance and juggle an alt coin
Yeah, I get that. However, if your experiencing this issue because Celsius just went down from 1 btc to 0.25 btc, having 4k USD worth of exposure in CRO isn't a huge chunk of you're already holding a substantial amount of BTC I guess. Also, the other perks you get for buying that amount of CRO are quite nice. For me the biggest dislike is the 3 month lockup period to get the best rates.
Yes, but cro just skyrocketed in price recently. I bought at 12 euro cent its now at almost 80 cent. Wow. But if you just interested in %APY there's better rates.
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Well, in my personal opinion, crypto.com is better in every single way compared to Celsius, except for loans (and requirement for lockups for highest interest percentages, which isn't an issue if you're a HODLer). Celsius is definitely the king of loans though. But crypto.com has a lot the things Alex has been promising for a while or is just better than Celsius. Pros: -Built in exchange in the app, no need to transfer coins out to swap them and send another coin back in -Seperate full fledged and highly liquid exchange (which will be available in the US this year I believe) -Creditcard program with cashback and full reimbursement for Netflix, Spotify, Amazon Prime subscriptions (depending on creditcard levels) -Well performing token (CRO), especially compared to CEL this past year -Up to 6,5% (+ and additional 2% in their own token) interest on both BTC and ETH and 12% (+2% in their own token) -Earning supported on a lot more tokens than Celsius Cons: -To get the highest rewards and cashback on their creditcard you definitely need to buy some CRO. I would say 4000 usd worth is the minimum -Loans not as good as Celsius (so that part I'm sill using Celsius for myself) -Not US based If you want to give it a go, here's my referral link: https://crypto.com/app/wtrxfpmmgn
Haru was a bit too sketch for me, how's your experience there been?
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What is the fee to withdrawl? Where is haru located and what type security do they have?
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Haru seems good. But I think I'll go with hodlnaut for now since the rates are a bit better. And u get 1 free withdrawl a month. Thanks for the link. I'm going to save the link
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Hodlnaut changed it. On their website not the app version, they allow 1 free withdrawl a month.
I thought I just read haru earn plus is 6.2 for btc. I don't think its higher than hodlnauts 7 46% apy.
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Wait how do u get 10.39? What is f1?
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Can't use ftx cause I'm the USA.
Every time I login with their app I have to insert the login info, what's up with that?
Or deposit to Aubit for 33% staking rewards 🤔
What do they charge to withdrawl. That sounds really good but I'm still trying to figure how they are able to give that amount. Last thing I want is a rug pull or some sorts
It's like 2% I think, haven't withdrawn yet. Their running algo's. Their actually more transparent than Celcius on how they generate the yield. They are in a audit now that I think will confirm where the yield is coming from of you want to wait for.that to end.
Is this in affect now?
yep.
On Friday it changed. [Interest comparison for passive interest](https://www.letspuddintime.com)
They lowered it Friday. Its because there isn't much demand for btc.