Have any of you guys used Blockfi to get paid interest on some of your hodl stash? Very intrigued by this and wondering what the downsides are besides the obvious "not your keys" risk.
I looked into blockfi. I think Celsius.network is a better outfit, I've been earning some decent retirement income on a percentage of my btc stash as I await the next mooning, for about 6 months now.
Also getting a nice dividend every week of over 10% on my usdc with celsius.network. Very stable and predictable. Can't get that kind of interest rate many other places.
That's all peachy, but where, exactly these "insane" rates that are being paid are coming from?
IMHO, some of these companies are ponzi and/or rehypothicate their holdings.
How to calculate the probability of their default?
I don't know, hence I don't participate.
If i had a large position in USDC, then maybe I would as it seems the most secure as far as regulation is concerned.