Useful information and great timing. Thanks. I was just checking into the details of Celsius and Nexo etc. and wondering how much to put there.
Since my Bitcoin is still on various exchanges I suppose moving it to Celsius and Nexo etc. will probably only increase the risk slightly from where it currently is.
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Posted Using LeoFinance Beta
Yeah I’m not too confident over these platforms there no insurance and we don’t know how well capitalised they are so I don’t leave too much with them
I would really prefer a non-custodial service where I can lock my coins into a multi-sig instead.
Hopefully as things progress well get that
I've heard others say they are waiting for this. But how do you lend coin for security if you don't give the lender access?
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With multi sig wallets you can create let’s say a 2 of 3 key wallet so 2 keys of 3 release the funds
One key goes to you
One key with the platform
One key with the borrower
So when the deal is done you and the borrower sign off and you get the funds back! If there is a dispute the platform can sign off
If I default on the loan the platform and lender can sign off and get the funds back
Sounds reasonable. I wonder why no-one has done this yet?
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So far I’ve only seen HODLHODL using it which is what I am using
I've seen you mention HODLHODL before but I don't see it talked about much. I'll have to investigate. 😊
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