04-04-2023, 11:38 AM
A reality check on Celsius
<!-- SC_OFF --><div class="md"><p>Everyone on here recently has been saying “Celsius was such a obvious scam”</p> <p>And </p> <p>“They paid really high interest rates”</p> <p>No, no they weren’t obvious, since everyone was doing the same thing (Gemini, etc, even coinbase tried to get into it).</p> <p>And they were not paying a high interest rate. One coin (UST) was getting 18% interest, and it was able to be staked for 20%. I was getting less than 3% on ETH and ~2% on bitcoin, which I thought was perfectly sustainable since staking eth would get you 4-5%.</p> <p>In hindsight it is easy to say that it is a obvious scam; etc etc.</p> <p>But be honest, it really wasn’t. I lost low 5 figures in it, so if people who don’t know much about it could stop rubbing it in, that would be nice.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/FBI_OpenUp2023"> /u/FBI_OpenUp2023 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12b50xf/a_reality_check_on_celsius/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12b50xf/a_reality_check_on_celsius/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Everyone on here recently has been saying “Celsius was such a obvious scam”</p> <p>And </p> <p>“They paid really high interest rates”</p> <p>No, no they weren’t obvious, since everyone was doing the same thing (Gemini, etc, even coinbase tried to get into it).</p> <p>And they were not paying a high interest rate. One coin (UST) was getting 18% interest, and it was able to be staked for 20%. I was getting less than 3% on ETH and ~2% on bitcoin, which I thought was perfectly sustainable since staking eth would get you 4-5%.</p> <p>In hindsight it is easy to say that it is a obvious scam; etc etc.</p> <p>But be honest, it really wasn’t. I lost low 5 figures in it, so if people who don’t know much about it could stop rubbing it in, that would be nice.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/FBI_OpenUp2023"> /u/FBI_OpenUp2023 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12b50xf/a_reality_check_on_celsius/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12b50xf/a_reality_check_on_celsius/">[comments]</a></span>