Reminder: Celsius will give you about 7% APR with compound …

I never bothered to try it in the end. Anything that relies on ‘crypto’ is high risk imo.

hi could you please clarify what you mean when you say 'crypto' ?
You mean it's not bitcoin?
I agree this seems risky. They ask you to go from basically 0% risk cold storage, to trusting a crypto exchange to hold your coins.

Have you tried it? 7% APR is kinda too risky for the reward. Everything that takes or gives interests on your crypto today is too high risk, at list for one side, meaning very high chance that side goes broke. Maybe in 10 years, when crypto price is stable

Not sure it’s wise to say where I have my money, but I do like the idea of an interest-earning bank for bitcoin.

Seems sketch. Don't fall for it guys

Just don't transfer from money button to said interest bearing bank account

What I mean is, they are not just BSV orientated, they offer returns on a variety of crypto’s which I believe have no long term future. What happens when those crypto’s head towards zero. Sure it may not happen straight away, but eventually it will.

Does their business model rely on these crypto’s going up, maybe.

Thanks. Yeah it seems a fine line between 'ballsy' business model and actual scam. Who dares wins, maybe.

Not really. You lend them BSV, they lend it to exchanges for liquidity to help some some douchebag short it.

Pretty simple business model that enables gamblers.

Or open up a margin long position. They also lend USD to average people who have bitcoin but need USD capital.

Sure. But there are many reasons someone would borrow USD, not necessarily for a long position or any trading activity. There is only one reason to borrow BSV (so far).

Sorry, I feel like I'm be shitting on them too much, which isn't my intention. The business model seems very legitimate. Just be aware of the counter-party risk involved when you are ultimately lending to crypto exchanges.

Can hardly overstate that. Do they have ANY legal liability?

They are registered in NY and London as a financial services company. I'm not sure how many things that encompasses from a liability standpoint, but at least they are not just a weird Maltese entity.