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+--- Thread: Earning Interest on BTC (/showthread.php?tid=6148749)
Earning Interest on BTC - Wilkyfreeflow - Apr 10, 2021
Hey everyone,
Blockchain.com recently advertised interest on BTC, among other coins. At roughly 4% compounding, the rates seem decent, but I'm wondering if this is a smart move.
Forgive me if its a dumb question, but consider this scenario: if I put $100 worth of BTC into interest account, and the price of BTC doubles, do I get $200 BTC plus interest or only $100 BTC plus interest? Obviously, this scenario is exaggerated, but I'm wondering if I still will be allowed to realize any gains from speculation or if they keep those gains.
Thanks for the help!
RE: Earning Interest on BTC - double chocolate muffin - Apr 10, 2021
There is no dollars only satoshis. 0.0069 + interest% = 0.08
But i hear a lot bad about blockchain.com wallets
RE: Earning Interest on BTC - Cooldudex - Apr 10, 2021
Blockchain.com = Absolutely donkey shit. If you care about your money NEVER put it on that fart box. Ever.
To answer your question think about this scenario before you even do any math:
What if you put $100 BTC into an interest account, steadily collect interest and then never see your money again? You will have zero dollars. You have a high probability of running into this scenario after putting your money onto blockchain.com.
There is multiple ways to compound your money safely without dealing with retarded websites/exchanges/wallets etc. posted on these forums you just have to look.
RE: Earning Interest on BTC - Wilkyfreeflow - Apr 11, 2021
(Apr 10, 2021 06:16 PM)Cooldudex Wrote: Blockchain.com = Absolutely donkey shit. If you care about your money NEVER put it on that fart box. Ever.
To answer your question think about this scenario before you even do any math:
What if you put $100 BTC into an interest account, steadily collect interest and then never see your money again? You will have zero dollars. You have a high probability of running into this scenario after putting your money onto blockchain.com.
There is multiple ways to compound your money safely without dealing with retarded websites/exchanges/wallets etc. posted on these forums you just have to look.
Thanks for the response! Can you point me in a good direction? Also, how would you advise I store my BTC, where should I move them if blockchain.com is a bad place to keep them?