I keep seeing people talk about these services. One of my good friends just called me the other day to tell me I should do it. It sounds like a great idea, yet I’m noticing in all the TOS for these companies, they codify language that explicitly indemnifies them from responsibility of your coins being lost.
So consider this a friendly reminder to read the TOS and really ask yourself if you’re okay and protected in a worst-case scenario.
"Your Celsius Wallet is not covered by insurance against losses…circumstances may arise where losses or damages incur. In that event, you authorize Celsius to use Eligible Digital Assets to absorb the remaining losses. "
YOUR AVAILABLE DIGITAL ASSETS WILL LEAVE GEMINI’S CUSTODY, AND YOU ACCEPT THE RISK OF LOSS ASSOCIATED WITH LOAN TRANSACTIONS, UP TO AND INCLUDING TOTAL LOSS OF YOUR AVAILABLE DIGITAL ASSETS.
Proceed at your own risk.