Luving the interest I got today and every Monday!

If you check their terms they basically say if anything goes wrong that they'll do what they can but they will not guarantee your deposits
Bitgo I guess only is custodian while they aren't loaning out your collateral, once it's loaned out the only thing stopping someone from absconding with it is they deposit collateral 150% of the loan. Well let's say LINK moons like 5x, why the fuck would anyone give the LINK back?
5% a year on LINK for the risk of losing your whole stack, fuck that
Blockfi has better terms but hasn't added LINK yet

they lend to institutions
institutions need to kyc
they don't just lend to anons

OK and an institution isn't going to default on a loan when it's profitable?

Also using it, in quite heavily. There's no guarantee, they moved away from Bitgo because Bitgo doesn't support mpc but in my opinion, this is as secure as it gets aside form having stuff in you own ledger. Hacks could happen, but they do seem tight on security. There's an AMA every friday, and lots of security concerns have been discussed. Also no hacks that took anything from users so far, nor any trouble with funds during march crash.

Also Alex Mashinsky is based af and the CEL tokenomics are quite nice. I think they buy form market to hand them out for users who earn in it (hence moon), and team token get unlocked only at certain price levels so they only get them if it performs well.

I was very sceptical about things like BlockFi and this, but I'm really convinced on this one. Also: business development chick is a literal pornstar who probably fucks guys to develop business (Jessica Khater). Based af

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if link moons x 5 then all the link within cel also moons x 5 so they'll have plenty of money to cover the occasional unpaid loan. They do research and make agreements with legit institutions only, no pajeets allowed so probably it will be allright. Again no guarantee but it's crypto so there's none anyway

>burgers don’t get to partake in the CEL coin
we do now, they changed it this month
there's an underrated aspect of the tokenomics no one talks about
they burn, buy back or lock up millions of tokens
i forget the details
CEL, DTH, CELR some 2nd layer gems

>if link moons x 5 then all the link within cel also moons x 5 so they'll have plenty of money to cover the occasional unpaid loan
Are you retarded? That's not their money
>don't worry user they'll replace the defaulted loans with another user's LINK

they don't lend your crypto specifically to someone, dummy. Inside it's just a huge pool of money from which they lend and they keep track of who gets what form them. So in a way, yes they will replenish your funds with someone else's if that's needed.

Also no one ever borrows LINK they all borrow stablecoins anyway.

So yeah if many loans default AND everyone but you withdraws all theire funds, you are in trouble.

If you thought crypto.com is shit, wait until you tested celcius for a week.

>they don't lend your crypto specifically to someone, dummy. Inside it's just a huge pool of money
The fuck? Never said they did you queertard, well aware of the fact that the money is pooled and I'm not talking about a few defaults, I'm talking worst case scenario and I'd thank you to stop being a giant faggot with his gaping mouth open for Jessica Khater's next dump

>Also no one ever borrows LINK they all borrow stablecoins anyway
Yeah sure that's why they can offer such a nice return on LINK, because nobody borrows it. Think for once.
>So yeah if many loans default AND everyone but you withdraws all theire funds, you are in trouble.
Doesn't even need to be everyone withdrawing you brainlet, just enough people that they can't cover the defaults anymore.
Christ, what a fucking child.

I still can't switch to earning in cel. Is is just not implemented yet?

>being this autistic & mad about your worst case scenario
ngmi

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>calling people mad when you no longer have a leg to stand on
tard

do you have CEL on the app?
2 wees ago CEL staking rewards started showing up weekly

etherscan.io/token/0x27054b13b1b798b345b591a4d22e6562d47ea75a

anyway, let's get back to useful discussing you seem like a man who takes his holdings serious and I respect that. In you point of view, how would you say Celsius ranks up againstplatforms like AAVE or Compound?

I'm not sure, but I think they very recently got the regulatory stuff rounded up so it's probably on the way but not useable yet right now

AAVE and Compound seem to have the right idea, mitigating risk on deposits by relying on open source and verified code in smart contracts rather than being custodians.
I also like what Blockfi does and the regulatory hoops they jump through
>hot wallets are covered by an industry-leading insurance policy and the total value of assets stored there will never exceed that policy - this rebalancing is managed using both automated and manual controls

no i don't

What institutions take crypto loans? Name 10 companies that take celsius loans and link source for each of them

didn't they hire some porn star or stripper as the portfolio manager?

allright, blockfi seems pretty legit as well indeed.

But AAVE doesn't have any less risk than Celsius when it comes to borrowers just not paying back but just letting their collateral be taken or too many users withdrawing, right? OR am I missing something?

true , you could do that on aave
as well