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RE: Celsius - Earn Your Interest While You HODL Crypto
First I thought what a great Idea to hodl your cryptos but than I think where do they get the interest from? I think there is a risk involved with holding your cryptos in that wallet.
For me, I will keep my cryptos save in my hardware wallet but for everyone who wants to earn extra cryptos that is a great idea!
Good Hunt and thanks for sharing!
I really understand the concern as being myself a hodler on Celsius. But here's the thing regarding the "risk involved":
Regarding security, the app itself doesn't actually hold any funds, all the funds are stored with BitGo which is a regulated cryptocurrency custodian based in the US. BitGo keeps funds deposited with them in multiple encrypted wallets with multi-sig access, they also hold funds for Genesis, Pantera, Bitstamp, UPBit, SBI Holdings, Ripple and more.
The SDG Impact Fund (Sustainable Development Goals), a United Nations initiative has chosen Celsius as their crypto asset manager, so it's very safe.
I hope that clears up your concerns.
✌️
Moved to the Hive platform.
Moved to the Hive platform.