Post
Topic
Board Exchanges
Re: 4% APY on Bitcoin
by
stompix
on 26/09/2020, 13:13:37 UTC
I'm not saying they're legit, but the screenshot does show a cap of 1.8 million USDT and 120 BTC. That number is fairly reasonable especially since the plan is only for a week.

Well, I was not accusing them outright of being a Ponzi actually, I'm quite sure that the first batch of clients in the 7 days plan will get their earnings, it's just that such percentage in interest normally would trigger a red flag from the community, if a new exchange would try this method to attract new users it will get way more attention than it wanted and not the kind it was looking for. For the rest, I doubt that 4% is going to be viable for a prolonged period, it has already dropped to 3.5%.

That said, it's weird for an exchange that claims daily volume trading in billions to look for funds to borrow from customers at these rates. Promotion, yeah maybe, a publicity stunt, you might be right and everything is actually harmless but afters years of unfortunate events in the crypto environment I'm looking with suspicion on everything, especially when it comes to a way of earning money doing nothing.