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Scraped on 14/06/2025, 12:08:31 UTC
Imagine saving Bitcoin and earning interests on it when it has gone down and when it goes back up, you are in double profits margin, because it will be too risky to not have a way save your assets and your profits from the falling market and waiting for when the market is favourable.
Yeah , imagine a money printing machine where everyone gets money by doing nothing, how could that be not a great idea?
Remember Celsius, that was a savings account, you would deposit your coins, get interest on it and then....you would have no more coins.
What part of "be your own bank" did you miss?
Ahah. I think OP means putting your stables & idle assets to work. Went through the link and I think those that meet the requirements can explore. Instead of having an idle USDT or BTC, staking is preferable imo
Take that 15% for example (which is abnormally high), and imagine that you cash out every year. You'd need more or less 7 years to double your deposit (and that's if they don't cut the interest rate during that time), but just a second to lose all your money if sh** happens.
I respect your opinion but to me that risk is not preferrable to having my coins idle (and, btw, not being obliged to pay taxes for them every year).
Original archived Re: Should crypto have a 'savings account' option?
Scraped on 07/06/2025, 12:08:32 UTC
Imagine saving Bitcoin and earning interests on it when it has gone down and when it goes back up, you are in double profits margin, because it will be too risky to not have a way save your assets and your profits from the falling market and waiting for when the market is favourable.
Yeah , imagine a money printing machine where everyone gets money by doing nothing, how could that be not a great idea?
Remember Celsius, that was a savings account, you would deposit your coins, get interest on it and then....you would have no more coins.
What part of "be your own bank" did you miss?
Ahah. I think OP means putting your stables & idle assets to work. Went through the link and I think those that meet the requirements can explore. Instead of having an idle USDT or BTC, staking is preferable imo
Take that 15% for example (which is abnormally high), and imagine that you cash out every year. You'd need more or less 7 years to double your deposit (and that's if they don't cut the interest rate during that time), but just a second to lose all your money if sh** happens.
I respect your opinion but to me that risk is not preferrable to having my coins idle (and, btw, not being obliged to pay taxes for them every year).