RE: Why I decided not to deposit my Bitcoin for passive income on BlockFi
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Those 6% are paid exactly because "This is not a risk-free product and loss of principal is possible". IMO there are no riskless yield (and if someone says there is, you should run from that). The question then is whether 6% is a good enough price for that risk.
For me it is (for a flexible term, when I can withdraw whenever I want). My aproach is to diversify. About 50% of my portfolio is in hardware wallet (in BTC, earning no interest). The rest is diversified mainly between Blockfi, Crypto.com, Hive (yes, for me HIVE is more earning interest platform than blogging or anything else, because I'm not good at blogging and I don't understand anything technical).
BTW, in addition to those 6% (or 6.5% in crypto.com) I also got sign-up bonuses and latter referral bonuses for a few members of my family (I add that to the price that I get for the risk that I take). And all that adds on :) especially, when most of my referrals were ~10k BTC and I got paid in BTC :)
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