6.2% annual interest for a Bitcoin account sounds appealing. The idea is good and may attract many investors. But what if BlockFi turns out to be the new Bitconnect? Who cares that it is backed by Gemini?Any thoughts on this?
Posted similar question a few pages back,but got quickly devoured by pages of memes that monopolised the short attention son of WO thread... (not whining at all, I like WO memes!)
6.2% is appealing, but remember that you are being KYC’d if you deposit. Basically you are giving up your privacy for 6.2% yearly interest.
Keep in mind that if you deposit from an address, simple chain forsensic analysis will drive the G-Guys to your BTC stash.
More than that, you are giving your private keys to a third party entity. What if they bankrupt or they get "hacked" or their CEO dies or whatever?