All crypto lending is a SCAM! Or is it? Let’s discuss the pros and cons of crypto related lending activities after the Twitter universe went wild yesterday over the announcement of BlockFi’s Interest Accounts, that allow you to lend Bitcoin and Ether for 6% annual interest. Is it a good deal for hodlers, what are the risks, who is it best for and what are my final thoughts? Let’s talk about it all today!

#crypto #ethereum #bitcoin

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46 replies
  1. Fisher Debby
    Fisher Debby says:

    Stay clear of these fraudulent companies posing to be legit, avoid them like plagues, they are just after stealing your money and vanishing into thin air. I was a victim of bluetrading, Onecoin and Coinmarket before I got help from consultant@archarielrecovery . com who helped my husband and I recover everything we lost to these scammers. I will forever be grateful to them for helping us out. Stay away from these fraudulent companies

    Reply
  2. Tiffany Trinh
    Tiffany Trinh says:

    thank you for your time for making these videos. I am in Nexo now. But will try to research on my own to see if I should consider compound.finance in the future. I think with compound finance you can be anonymous but with other crypto lending you have to do KYC and show up your face 🙂

    Reply
  3. moxncal
    moxncal says:

    I like how he shows from the consumers website as evidence to prove his point. Unlike others who just screams and regurgitate just to get views. Bitconnect is still around they have the staking portion thats still going.

    Reply
  4. Juan M. Villaverde
    Juan M. Villaverde says:

    Further to your point Bobby, from a macroeconomic standpoint, lending out crypto increases its liquidity and utility as money. If everyone "hodls" then there's no one left to do actual commerce with that asset. With lending platforms, the hodler gets paid, and there is someone out there who is taking up a loan on a crypto asset, helping create an actual economy around the thing. Lending and credit are essential to create a healthy economy. It's encouraging to see more and more of these emerge.

    Reply
  5. David Raborn
    David Raborn says:

    Cryptocurrecy is still a novelty to the masses. Borrowing is bad in the first place. Yea, Lending in crypto is a bad idea. Crypto is SO RIFE WITH SAMMERS. I was a vic in a cloud mining scam and many ICO's last year during the peak So, lesson learned: Only buy and sell cryptos on a reputable exchange. Have your keys and store your cryptos on your own devices with your own keys. Be very careful, and do your research on who your sending to. Love Crypto Bobby you tube. Keep it real….BTW.Who is borrowing cryptos?

    Reply
  6. king dragonboygod
    king dragonboygod says:

    Bobby has the intelligence – the integrity to look into this. I'm worried that this is security trading and money services.
    It's overstepping – ask them to get a banking license please.
    Balanced reporting – I'm just concerned crypto is being infiltrated by hucksters, real estate salesperson types,
    Potential fraudsters, manipulators and chuzzers, big time chuzzers.

    Reply
  7. Shad Colebroke
    Shad Colebroke says:

    Y isn't this a scam? Telling me because they have a phone number makes them trust worthy.

    Bobby Bobby Bobby, it's a company with the model of bitconnect! Not calling it bcc its jus it's ghost.

    Reply
  8. JoeTube
    JoeTube says:

    You can lend your crypto to people that use it to short on Bitfinex. The ETH rate is currently about 0.001% per day which amounts to roughly 0.4% anually. This is a fair rate created by a fair market, but still including counterparty risk, because you need to have your crypto on Bitfinex to lend it out and they could get hacked. Some weird new companies offering >6% annual returns for crypto lending is most likely a scam, even when it is less obvious than Bitconnect. IF those companies had ANY credibility they would just go to a bank, take out a loan at less than 6% and then do whatever shady business they are doing with that money. They are not getting bank loans, but there is a lot of dumb money in crypto that is willing to "lend" their coins to them.

    Reply
  9. Darmath
    Darmath says:

    Pulled out of crypto at the beginning of 2018 and I don't regret it at all. Don't really plan on getting back in either. Wide adoption is not on the horizon along with SEC regulation.

    Reply
  10. david sellers
    david sellers says:

    probably converting crypto to fiat and buying AT&T stock. They pay dividend 6.2% and scrape the difference from the 6.8% dividend. taking advantage of kids trying to loop into the moon dream.

    Reply

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