Happy weekend everyone!
Judging by the spike in traffic on Everything About Bitcoin today (as well as the countless messages I've been receiving on "is it a good time to buy Bitcoin?"), it's safe to say that the bull market is well and truly underway. If this is your first crypto bull market, get ready for a rollercoaster of extreme volatility. Huge mental discipline is required, never regret taking profits off the table and try to on add to your position on any dips. Even in crypto bull markets, flash crashes of up to 30% are common. It is not a time for the weaker hands.
If trading is not for you, then I highly recommend holding your Bitcoin through these swings, you'd be surprised what just a little holding power in a bull market can do. If you're holding through, why not earn some interest while you're at it? That is a strategy that I employ for more than 70% of my crypto holdings (while I trade with about 30% of the rest). To receive interest, I split my assets into two popular centralized interest providers - BlockFi and Celcius. I happen to have available referral codes for both Blockfi and Celcius available. Do use my referral link to earn free Bitcoin after your first successful deposit on either platform.
Click on the links below to access
BlockFi Referral Link - Deposit at least $15 dollars in crypto and earn $25 to $250 in Bitcoin
Celcius Referral Link - Earn $20 in BTC with your first transfer of $200 or more
I've written about BlockFi and why I am a huge fan of BlockFi in my previous post - link here. So, apart from BlockFi, why do I still use Celcius as well? There are a couple of reasons:
The case for both BlockFi and Celcius
1) Spreading out Risk - Keeping my assets in both BlockFi and Celcius allows me to spread out my risk, in the unlikely event of a hack resulting in a loss of my assets. I'm sure you've heard of popular sayings like "Diversification is Key" and the same principles should be applied in storage of assets. By splitting my assets into both BlockFi and Celcius, I am greatly reducing the risk of a hack wiping out my entire portfolio.
2) Slight differences in Interest - Another great bonus of using Celcius is that their interest rates paid out differs slightly from BlockFi's. While BlockFi offers superior interest rates for Bitcoin, Celcius actually has better interest rate for Ethereum deposits, with the interest rate at 5.5% versus BlockFi's 5.25%. If you chose to earn your interest in CEL, which is the native token of Celcius, you'll earn an even better yield on your deposit. I also like it that the interests in Celcius are paid of weekly, which gives a slight edge when it comes to compounding, although the monthly interest from BlockFi is already good enough to for compounding.
3) Celcius offers a much larger variety of coin deposits - So far i've only spoken about Bitcoin and Ethereum yields. If you own a variety of other altcoins as well, you will find that celcius supports a larger list of altcoins and tokens. You may view the full list of supported coins and tokens here.