Earn Interest With Your Crypto - Bad Idea. Change My Mind

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.

Celsius:

"Your Celsius Wallet is not covered by insurance against lossescircumstances may arise where losses or damages incur. In that event, you authorize Celsius to use Eligible Digital Assets to absorb the remaining losses. "

Gemini:

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.

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This topic has been discussed before …

If earning interest with a reputable company like BlockFi, Celsius or Blockchain scares you, buy and hodl PoS coins like Algorand, Cardano or Tron. Hold in your wallet and earn around 5%.

Kucoin / KCS is an exchange coin similar to Binance / BNB and pays daily dividends between 4 to 10%. However must be held within Kucoin Exchange wallet.

We do not change your mind. Nobody really cares what you do with your coins. Make up your own mind to feel comfortable.

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