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ankurgupta87

List of XRP Debit cards

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I'd like to add that you can use XRP on Nexo (a company funded by Arrington Capital; Michael Arrington being the most pro-XRP VC out there) to create a line of credit secured by said XRP and get their debit card.  The Nexo token is one I am bullish on, personally.

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Posted (edited)

@lysistrada......I'm long NEXO as well. Sooner or later the market will figure out the revenue potential for crypto banking. I'm also now long CEL, and taking all my Celsius Network interest payments in their CEL token. We'll see how it works out.

Edited by dr_ed

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1 hour ago, Duke67 said:

REVOLUT

Except you still can't transfer XRP into the Revolut, which is a shame, but it's immense. You have to buy it on their app. 

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38 minutes ago, dr_ed said:

@lysistrada......I'm long NEXO as well. Sooner or later the market will figure out the revenue potential for crypto banking. I'm also now long CEL, and taking all my Celsius Network interest payments in their CEL token. We'll see how it works out.

I checked out CEL as well.  I don't remember what I concluded; I will have to look at it again.  I appreciate the heads up.

With every crypto boom, more and more people get involved and this means more people are going to want to be able to gain cash from these holdings without having to sell.  It seems very strong to me. 

Right now, let's say you have $10M in fiat.  You can buy $10M in some stable coin and put it into the Nexo platform.  You will get paid out - daily - a 6.5% APR which means you can get $1800 or so a day without commitment. There's nothing else like that out there.  Yes, there are investment vehicles which can potentially pay this out, but they generally require a very long term commitment.  I doubt they'll have this deal in place for all that long, but it's a hell of a deal.

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1 hour ago, lysistrada said:

I checked out CEL as well.  I don't remember what I concluded; I will have to look at it again.  I appreciate the heads up.

With every crypto boom, more and more people get involved and this means more people are going to want to be able to gain cash from these holdings without having to sell.  It seems very strong to me. 

Right now, let's say you have $10M in fiat.  You can buy $10M in some stable coin and put it into the Nexo platform.  You will get paid out - daily - a 6.5% APR which means you can get $1800 or so a day without commitment. There's nothing else like that out there.  Yes, there are investment vehicles which can potentially pay this out, but they generally require a very long term commitment.  I doubt they'll have this deal in place for all that long, but it's a hell of a deal.

CEL is a bit more of a maybe, but Celsius is my favorite crypto bank..more like a credit union, compared to Nexo, imho

You can't really buy CEL, because it has been locked up by a vote of the original ICO investors....there is a small stream of CEL being sold off on IDEX, but it isn't on the big exchanges. So the about the only way to get CEL right now is to take Celsius network interest payments in CEL. 

As of today, I make the yearly interest at today's CEL price as only 2.88 %......but I expect the price to get a lot better, especially if the vast majority of the coin stays locked up. So it's just a different way to play it, rather than taking my interest in XRP. My bag on XRP is full enough now...so I have some room to experiment and see how this works out.

Cheers and best of luck.

 

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3 hours ago, lysistrada said:

Michael Arrington 

Shills who pays him best.

 

 

First BNBshilling now he joined forces with the brainlets at multicrapcapital whats next?

 

Arrington renames into stellarcapital 😂😅

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19 minutes ago, MemberBerry said:

Shills who pays him best.

 

 

First BNBshilling now he joined forces with the brainlets at multicrapcapital whats next?

 

Arrington renames into stellarcapital 😂😅

thank you for contributing.

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Just got an update from this morning. Sorry for OT, but it relates to what I said earlier. CEL goes on sale this week (Wednesday) on the Liquid Exchange (I have not used them). I guess it's only to be expected since Celsius has established bonus interest levels related to how much CEL you hodl.

In the public part of their pre-sale, investors had to commit $10K and paid $.20 (about 2X the current CMC stated price). I was wondering if they would list CEL on the exchanges as soon as they started paying in CEL. I'm sorta sorry to see that, but it makes sense from their  standpoint, I think.

The main thing is that they are giving higher interest for people who have lots of CEL...but the levels ARE high, so you have to be able to buy it to get there. It would take forever if you just take payment in CEL.

I see it as a +/- really. It means that pre-ICO investors with a ton of CEL they had to pay .20 for in the crowd funding sale finally get to reap some bennies.
Maybe not so good for hodlrs without a big stash. Obviously it's an incentive to make you buy enough to get to the bonus interest levels.  I have to still figure out how much you have to spend to qualify for the bonus levels.

It's also a price driver for CEL, of course. The current .094 stated price on CMC is pretty meaningless, since it's so hard to obtain (until Wednesday)

 

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12 hours ago, dr_ed said:

Just got an update from this morning. Sorry for OT, but it relates to what I said earlier. CEL goes on sale this week (Wednesday) on the Liquid Exchange (I have not used them). I guess it's only to be expected since Celsius has established bonus interest levels related to how much CEL you hodl.

In the public part of their pre-sale, investors had to commit $10K and paid $.20 (about 2X the current CMC stated price). I was wondering if they would list CEL on the exchanges as soon as they started paying in CEL. I'm sorta sorry to see that, but it makes sense from their  standpoint, I think.

The main thing is that they are giving higher interest for people who have lots of CEL...but the levels ARE high, so you have to be able to buy it to get there. It would take forever if you just take payment in CEL.

I see it as a +/- really. It means that pre-ICO investors with a ton of CEL they had to pay .20 for in the crowd funding sale finally get to reap some bennies.
Maybe not so good for hodlrs without a big stash. Obviously it's an incentive to make you buy enough to get to the bonus interest levels.  I have to still figure out how much you have to spend to qualify for the bonus levels.

It's also a price driver for CEL, of course. The current .094 stated price on CMC is pretty meaningless, since it's so hard to obtain (until Wednesday)

 

Did the Celsius Network pass your sniff test for legitimacy?  Nexo did for me.  I'm still not going to put my bag of XRP on their platform, but I think I could safely do so.  I admittedly only looked into Celsius in a very cursory manner, but when I did I just wasn't sure I was every going to trust them with any of my holdings.  Then again, I barely trust Binance with my holdings.

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Posted (edited)
1 hour ago, lysistrada said:

Did the Celsius Network pass your sniff test for legitimacy?  Nexo did for me.  I'm still not going to put my bag of XRP on their platform, but I think I could safely do so.  I admittedly only looked into Celsius in a very cursory manner, but when I did I just wasn't sure I was every going to trust them with any of my holdings.  Then again, I barely trust Binance with my holdings.

They pass my sniff test, although not every question I have is fully answered. In my view the risk has more to do with their success or failure as a business model than it does any security issue or malicious intent, which I'm less sure about with regards to other similar deals. I do believe in Alex and his vision. He has a track record, and not just in cryptos. And Celsius has done well, just like Nexo, even in the down market.

I am willing to risk it for the return. Their security is good. But they are not insured, as of now, unless something has changed very recently.  I like the wallet. Very easy to use. No lock-up of funds at all. They are transparent about their profit structure. I don't think they rip anybody off.

I am trying to get my head around this new stuff with CEL as an incentive. Not sure how worth it it will be. I would have to spend a lot to get to their "Platinum" level to get 25% higher interest. It does look to me like they lowered the payout a little first and then added the incentive structure  to make you buy CEL to get back to where you were....that irks me. The way it works, if you are building bigger positions in various coins there, you have to keep adding CEL to keep your bonus status. It's percentage, so you never max out. Some of the supposed benefits of holding CEL, like getting lower interest on a loan, are not important to me.

I never leave a cent on Binance overnight, or on any other exchange, although I like Binance, and I like Uphold and Coinbase (it's gotten way better) for my on ramps. I have money tied up there while waiting for funds to clear, of course. I regard Celsius as a safer wallet than any exchange wallet, because the funds go straight to Bitgo, which has never been hacked.

I am long NEXO too. Did I say that? They did screw me out of my first dividend and I know other people were not paid either. When they asked us to do the KYC/AML stuff prior to the payout, I did so immediately, maybe too soon before their site was functioning. That's what I think, anyway. When I complained, they never responded in any material way. If they screw me out of another dividend, I will be out, no matter how good they are,

Edited by dr_ed

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