- 899
- 625
- Joined
- Mar 20, 2008
Hey fellas. New to crypto and stocks in general. I’m on Gemini and I’m wondering about the earn interest option. Is there any additional risk involved with this option? If not why isn’t this standard?
- 11,597
- 12,094
- Joined
- Oct 25, 2006
Right when you click to convert the allotted amount it brings you to a “Terms and Authorization” page that lists the risks. Here’s a preview:
- 74,654
- 24,059
- Joined
- Apr 4, 2008
Sheesh those TOS. Is it worth lending on there? What y’all think?
- 3,602
- 2,238
- Joined
- Mar 14, 2014
I had an epiphany about btc and blcokchain in general i guess. Those who already believe dont need convincing but those who arent sure, it is the way haha
- 26,411
- 29,565
- Joined
- Nov 3, 2011
Hell Nah
- 583
- 783
- Joined
- Sep 4, 2020
There isn't a chance in hell I am doing all that noise. Quite honestly, I am not looking at crypto to provide a stable form of recurring income on a monthly basis, or even as a typical investment vehicle. I view my holdings of BTC and ETH as prudent diversification with the potential for significant, albeit unreliable, wealth creation for my children. I want to log onto something that shows me my coins and their value and log out. I see the vast majority of crypto value coming from the appreciation of coin values, not from staking and earning. Maybe I have it backward but 6% doesn't change my life and the risk of having them in any other place than my wallet is not worth it.
My altcoin holdings of primarily ADA and AMP are long-term, lottery plays that still maintain some semblance of investment principles. I truly believe that Cardano can change the world and I think AMP can help facilitate that change for the un and underbanked.
- 74,654
- 24,059
- Joined
- Apr 4, 2008
Yeah I was all about earn but if it’s not protected, it’s not worth it.
- 9,849
- 3,238
- Joined
- Jan 22, 2015
dam I already put my $700 of amp i bought into earn, where should I move it to, a ledger or what?
Last edited:
- 12,814
- 13,762
- Joined
- May 9, 2004
- 11,597
- 12,094
- Joined
- Oct 25, 2006
I read the terms and wasn’t feeling it so I didn’t opt to earn, but I’m assuming you can opt out if you chose to earn. Wouldn’t make sense for Gemini to not reverse and provide a reason for clients to bounce just to move crypto out.
- 74,654
- 24,059
- Joined
- Apr 4, 2008
If you have a long term outlook you can stake it via metamask but gas fees.
- 29,828
- 39,661
- Joined
- May 25, 2004
Crypto to me is just fun honestly but I’m not going to sign over the rights to it. I just see the potential so if I come up it’s free money. If I lose it all I’ll be good too. I’m doing all all equal buying of eth, btc and aave now and throwing a few hundred on DNT every time it drops to around 12-14 cents.
- 12,527
- 11,815
- Joined
- Apr 8, 2009
Maybe I'm a bit more adventurous but I got 2 tokens staking on Binance and 3 from my wallet.
The way I see it is that the interest you get is also going to get a multipler when the coin appreciates in value.
If you get 10% APR of $1000 but then that coin does a 20x then you just got $2K for free.
I definitely want to keep some profits in a lending platform like Celsius.
12% APY is a lot better than the 0.05% my bank gives me and you won't need to worry about a market crash if it's a stable coin like DAI/USDC.
The way I see it is that the interest you get is also going to get a multipler when the coin appreciates in value.
If you get 10% APR of $1000 but then that coin does a 20x then you just got $2K for free.
I definitely want to keep some profits in a lending platform like Celsius.
12% APY is a lot better than the 0.05% my bank gives me and you won't need to worry about a market crash if it's a stable coin like DAI/USDC.
- 9,849
- 3,238
- Joined
- Jan 22, 2015
cs02132
Supporter
- 12,837
- 13,260
- Joined
- Nov 1, 2007
Me too
Happened last year. I already knew about Bitcoin and then got in the 2017 rush but honestly didn’t really believe in it until earlier this year when I used ltc to deposit $ into my betting account and it took minutes compared to a bank transfer
Made me realize yea it’s not gonna overtake the dollar but for sure it’s gonna have it’s place
- 74,654
- 24,059
- Joined
- Apr 4, 2008
Locking up money in a smart contract where you are guaranteed to receive your money back is one thing. Idk if these platforms do that though. Someone in defi can school me there.
I always leave a tiny amount in my Gemini from my weekly dca that I’ll earn on and wire out monthly but it’ll be a tiny portion I can live with losing completely.
I always leave a tiny amount in my Gemini from my weekly dca that I’ll earn on and wire out monthly but it’ll be a tiny portion I can live with losing completely.
- 4,819
- 690
- Joined
- Dec 7, 2004
Nip was already with it. 
- 5,983
- 3,636
- Joined
- Feb 23, 2006
Anyone been riding this CAN wave?
- 5,229
- 3,258
- Joined
- Jun 14, 2007
This is my thinking.
I also converted some dollars into USD Coin and started earning interest on it with Celsius.
The $ savings Account I had with Goldman Sachs Marcus had dropped its interest from 2% to 0.6%
I have a 1/4 of my BTC on celsius.
You earn in BTC so its not the dollar income i want but the BTC.
anyway there is a risk so i wouldnt risk most of your crypto until there is more of a track record for these platforms
- 57,439
- 60,843
- Joined
- Aug 6, 2012
One of the few peoples opinions I value regarding stocks and financial advice
- 57,439
- 60,843
- Joined
- Aug 6, 2012
Too many institutions are accepting Bitcoin as payment. This just may be the last year a full Bitcoin may be attainable to the common folk. Load up fellas. As much as you can. I’m cool on the alts. Just Btc and Eth for me.
- 2,976
- 1,822
- Joined
- Aug 24, 2013
Two years from now consider what crypto people will actually be spending at retail locations worldwide.
Bitcoin? No. too valuable to waste. Eth? No. Will be too valuable to waste. Whats left Litecoin and Bitcoin Cash. (Others most likely)
Two viable options with extremely low transaction fees. Litecoin was founded on that purpose. Some would argue Bitcoin cash is the real Bitcoin because it is truly peer to peer cash with low transaction fees.
Polkadot is ETH 2.0 that is coming now.
DOT and Kusama are about to wreck shop its a double headed dragon. Kusama being a live testnet and a fully functional Mainnet basically feeding DOT the big winners (via parachain auctions) and at the same time mirroring what DOT is doing. Acala/Karura (defi) Plasm/Shiden Network and Kusama running whatever projects that dont win a parachain slot .
Bitcoin? No. too valuable to waste. Eth? No. Will be too valuable to waste. Whats left Litecoin and Bitcoin Cash. (Others most likely)
Two viable options with extremely low transaction fees. Litecoin was founded on that purpose. Some would argue Bitcoin cash is the real Bitcoin because it is truly peer to peer cash with low transaction fees.
Polkadot is ETH 2.0 that is coming now.
DOT and Kusama are about to wreck shop its a double headed dragon. Kusama being a live testnet and a fully functional Mainnet basically feeding DOT the big winners (via parachain auctions) and at the same time mirroring what DOT is doing. Acala/Karura (defi) Plasm/Shiden Network and Kusama running whatever projects that dont win a parachain slot .
- 29,828
- 39,661
- Joined
- May 25, 2004
Nobody is gonna be spending their btc and ether. We’re just gonna hoard it and drive up the market that way.
gonna be like Gollum with the ring.
gonna be like Gollum with the ring.
- 74,654
- 24,059
- Joined
- Apr 4, 2008
You’re not because you live in America with a strong currency despite all of the inflation and the most aggressive military on the planet hellbent to maintain its world reserve status, but in other countries where that is not even remotely true or possible, bitcoin will be looked at as the key to their survival and the only true way to maintain ownership over the value their labor creates. Those will be the people spending bitcoin while the scarcity paradigm plays out here.Nobody is gonna be spending their btc and ether. We’re just gonna hoard it and drive up the market that way.
gonna be like Gollum with the ring.
where in the beginning of a new bubble or paradigm shift where you will see legacy corporations like IBM and GE with zero growth or future turning to buying bitcoin as a means to add value to their stocks. This will either shift bitcoin to the point where it is no longer volatile and capable of being used as a global currency, or turn into a complete bubble that will explode and see prices fall 100-300%at the culmination of this bull run. Personally, I think we can see both ideas play out over the next decade. Either way, I’m bullish bitcoin and always will be.
Similar threads
