Sure. Its subjecting 1.818 BTC to custodian risk to save a small difference between APR and cap gains.
I guess my point is thats alot of risk for a very small reward.
The appeal is to possibly capture the 26%+ CAGR of the collateral, assuming the custodian risk doesn't harm anything.
Idt most Celsius users expected Celsius to freeze withdrawals when it did.
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The .91 BTC that would’ve been sold saw an increase in value from $56,420 ($62,000 x .91) to $100,100 ($110,00 x .91). A difference of $43,680 in the past year. That’s the main reason why people borrow against their bitcoin. But there is not guarantee on those results.
There are multi-sig lending platforms that ensure at minimum the lender cannot control funds without the borrowers keys.