This Article is translated by DeepL Translator. The original Post can be found here.
About 6 weeks ago I published a video about Coinlend and Celsius Network.
The Video is in German Language
This is no investment advice! I am just showing my experiences. Using the presented platforms is on your own responsibility.
I would like to give you a brief introduction to these two applications.
Coinlend:
Coinlend is a platform on which you can generate a lending bot. This bot lends your coins that you have stored on various exchanges. At the moment the following platforms are available:
Poloniex
Celsius
Nexo
Bitfinex
For example, if you have Bitcoins lying around on Bitfinex, the bot will temporarily lend these Bitcoins and generate interest payments. You can define the time and amount of Bitcoins in the bot.
This is an easy way to allow coins that are otherwise just lying around to work and generate interest payments.
My bot runs on my Celsius account and generates interest from my Cel tokens.
The advantage is that interest generated by Celsius, in my case from Bitcoin and Ethereum, is paid out in Cel Token. ( more about this later ).
This means that my Lending Bot benefits from the compound interest on my Cel Token, because after each Celsius interest payment more Cel Token are available.
Celsius Network:
The Celsius wallet is basically a bank on the smartphone. Celsius generates interest income by lending your coins in the Celsius Wallet. In my case from Bitcoin and Ethereum.
The interest income is paid out weekly in the form of Cel tokens. You will be informed every Monday by e-mail about the interest income of the previous week. For each coin in your wallet separately. The percentage of interest income increases the longer you leave your coins in your wallet untouched.
Another feature on Celsius is the borrowing of your coins. Let's say you have a Bitcoin in your Celsius wallet and need cash on short notice. Normally you would have to use the Bitcoin selling to get cash. At Celsius you can borrow the Bitcoin, that means you deposit the Bitcoin as security and can borrow cash.
This has the advantage that you can continue to benefit from Bitcoin's price gains and have full access to your Bitcoin again after the loan is repaid.
However, if the Bitcoin price drops, you will not be able to get out immediately.
Another bonus from the Celsius Network is the transfer of coins to other network members. You can initiate a transaction without a public key. All you need is the clear name of the recipient in the Celsius Network.
In another video I have shown my interest gains after 6 weeks.
The video goes live on 19th of April ( today) at 17:00.
The Video is in German Language
My interest earnings on Celsius amount to $2.16 in the last 6 weeks. This interest income was generated with 0.09 ETH and 0.039 BTC. On top of that, there is 0.38 Euro on coinlend through the Cel tokens.
Extrapolated to one year, as of today, I would generate about $18.7 in interest on Celsius. This corresponds to about 6.5% p.a.
With the Coinlend Bot, I assume about 7- 7.5% interest in total.
in this sense
Tschüss Euch
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