- This topic has 19 replies, 2 voices, and was last updated 5 months, 3 weeks ago by kirtash93.
- Friday, June 17th, 2022 at 13:21 #310544mannilabParticipant
Cryptocurrency News – Celsius is a reminder to everyone: not your keys, not your Crypto. Those exchanges are not here for you, they are here to earn as much as possible.
Read Here (Article Link):
What are your thoughts after reading this news article?Friday, June 17th, 2022 at 13:24 #310548EpicHasAIDS
Celsius is a reminder that when someone is paying you ridiculous fucking rates of return in an environment when the bank is paying you **NOTHING** on savings…. there is risk.
That is the proper lesson people need to take from this.Friday, June 17th, 2022 at 13:24 #310545randomFrenchDeadbeat
Companies exist to make money. Who would have known.Friday, June 17th, 2022 at 13:24 #310549MoCityTripp
This has been rehashed over and over again on this sub lol. If you visit here from time to time even you will see posts about not your keys not your coins. Yet some people still took the risk and look how that ended. As much as i feel bad for those people they certainly knew the potential risk.Friday, June 17th, 2022 at 13:25 #310550damnsonwhyyoutrippin
Not your seed, not your kids.Friday, June 17th, 2022 at 13:27 #310551Livid_Yam
This article is like the comic section of the newspaper, but for adults. I’ve never seen so many memes in a professionally written piece.Friday, June 17th, 2022 at 13:30 #310552oshinbruce
These crypto lending services always seemed like a massive risk. Why not just stake instead of handing over cryptoFriday, June 17th, 2022 at 13:30 #310553coinfeeds-bot
tldr; Celsius, one of the biggest lenders in crypto, froze withdrawals amid rumors of insolvency. The situation is a clear demonstration of why it’s important to keep your idle crypto in a cold wallet. It seems many people are taking their funds into cold storage as Bitcoin balances have been in steep decline across exchanges since March.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*Friday, June 17th, 2022 at 13:32 #310554ganim_66
dont trust anyoneFriday, June 17th, 2022 at 13:43 #310555PrinceZero1994
With great rewards come great risk. It’s easy to fall for these high reward programs and not even knowing the cons about them.Friday, June 17th, 2022 at 13:43 #310556dwin31
Reminder to everyone… from someone who just copies and pastes sage advice but doesn’t know the difference between a lending platform and an exchange. 🙄Friday, June 17th, 2022 at 13:44 #310563kirtash93
We dont say that for no reason. I feel pretty safe because I use to move my coins to my cold wallet.Friday, June 17th, 2022 at 13:49 #310546–leockl–
Not quite right. These platforms are for the users, including Celsius. What happened with Celsius was they had too many bad investment decisions one after another leading to losing money, so they are not there to earn as much as possible for themselves. If platforms have good investment or risk management procedures, they could be there for the users.Friday, June 17th, 2022 at 13:50 #310547DogTheHatch
Interesting point about not being able to pay off your loan because your funds are frozen. This really reinforces the utility of DeFi over CeFi.Friday, June 17th, 2022 at 13:54 #310557chrisbrown21357
Non-custodial dex staking pools for the winFriday, June 17th, 2022 at 13:55 #310558shakerek
Not your provider not your internet 😀Friday, June 17th, 2022 at 13:59 #310559DadofHome
Be your own bank 🏦.
LRC 👍Friday, June 17th, 2022 at 14:03 #310560jcpainpdx
An original post….Friday, June 17th, 2022 at 14:11 #310561Insightseed
For years I been trying to warn people about Celsius. You shouldn’t have a wait period to withdraw your own damn moneyFriday, June 17th, 2022 at 14:23 #310562Wonzky
Did anything think otherwise…? Businesses are meant to make money, they only do things for “you” because it helps their bottom line
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Related Forum Topics:
- → Crypto lender Celsius which recently declared bankruptcy owes more than $4.7 billion in crypto to its customers. Celsius plans to make up its deficit partly using newly minted bitcoins from its mining facility. Do you think Celsius will be able to fully compensate its customers?
- → Ledger Sales Went Up 4.5x After Celsius News – Not your keys, not your crypto [Crypto News]
- → Payments to Celsius employees, officers, directors, and stockholders in less than 30 days: $4,181,002. Payments to loyal Celsius customers in less than 30 days: $0. Celsius email from date of paused withdrawals said, “Acting in the interest of our community is our top priority.” [Image]