Hi
Are blockfi or nexo.io wallets supported?
Thank you
Those are NOT wallets!
Are just shity Defi banks and should be avoided as much is possible.
NOT YOUR KEYS = NOT YOUR BITCOINS
I’ve been earning 100s of thousands of Satoshi in daily interest. Loving the yield on defi!
No, both of those services are custodial. You do not have control over your bitcoin with those services.
I prefer custodial. That way I am not responsible to loosing it :D. They have multi-million dollar insurance on each account. I am all good!
I wouldn’t be so sure of that
- They take absolutely no responsibility for losing your money in a cyber-attack.
- Section F.5 - “BlockFi and our third party partners may experience cyber-attacks, extreme market conditions, or other operational or technical difficulties which could result in the immediate halt of transfers and withdrawals of cryptocurrency either temporarily or permanently. BlockFi is not and will not be responsible or liable for any loss or damage of any sort incurred by you as a result of such cyber-attacks, operational or technical difficulties or suspensions of transfers or withdrawals.”
- Section K.2 - They’re not liable for any losses that were outside of their control, including equipment malfunction or communications malfunction.
- Section K.3 - “We are not liable for special, incidental, exemplary, punitive or consequential losses or damages of any kind.”
- Section L.1 - " Your Crypto Interest Account is not covered by insurance against losses."
- Section K.4 - Even if you can somehow hold them liable, you can only go after Blockfi Lending LLC and no one else.
- Section L.2 - No FDIC or SPIC insurance or coverage.
- Section L.3 - Any bond or trust account maintained by BlockFi for the benefit of its customers may not be sufficient to cover all losses incurred by customers.
- They can change the terms at any time, and they don’t even have to tell you. “Acceptance of Terms. We reserve the right to update these Interest Account Terms at any time, and may notify you of such changes via the Website or by email at the address specified on your account application, but we have no obligation to notify you of every update.”
@WalletInspector… I did some more research and called Blockfi. You are correct about Blockfi but Nexo does cover hacking.
Nexo - “Security and Insurance” … The $100 million policy covers digital assets where the private keys are held 100% by BitGo in the event of:
- Third-party hacks, copying, or theft of private keys
- Insider theft or dishonest acts by BitGo employees or executives
- Loss of keys.
@WalletInspector here is some additional detail on Nexo’s security from the Nexo team.
"The safety of clients’ funds is one of Nexo’s highest priorities. Cold storage Nexo Wallets are provided by the leader in multi-signature encryption technology: BitGo . These assets are covered for up to $375,000,000 via insurers including Lloyd’s of London and Arch and Marsh, as guaranteed by our syndicate of custodial partners, among which are Ledger Vault and Bitgo. Our custodian BitGo does not keep all of their cold wallets in one place but in multiple vaults in different banks which guarantee their safety with different insurance policies. It is almost impossible to crack one vault in a bank, let alone all vaults in different banks. This is why you can be sure that all of your assets are insured at 100%.
Custodial crypto assets are insured against commercial crime. In the unlikely event that Nexo’s custodian should suffer a security breach, insurance procedures are triggered so as to compensate any losses resulting from physical and/or cybersecurity breach, and/or employee theft. It is the account holders’ responsibility to safeguard their accounts by means including but not limited to using a strong password, enabling two-factor authentication and controlling all login credentials to Nexo.
Clients remain owners of the crypto assets placed into Nexo Wallets. Nexo partners with the largest and world-renowned custodian BitGo to secure all crypto assets. This is the Enterprise Solution of world-renowned crypto custodian BitGo, backed by Goldman Sachs and incorporates Cryptocurrency Security Standard Level 3 which is SOC 2 compliant. The CCSS Level 3 requires multiple actors for the all-critical actions. Advanced authentication mechanisms are employed to ensure the authenticity of data, and assets are distributed geographically and organisationally.
We have adopted the best industry practices which make up the security protocols of other market leaders using BitGo such as UPbit, Pantera Capital, CME Group, Kraken, Genesis, SBI, Ripple and many more.
Furthermore, all Nexo systems are audited by top IT specialists and ensure 24/7/365 fraud monitoring mechanism, around the clock customer support, military-grade encryption that guarantees both the security of clients’ funds and their privacy.
As the world’s largest and most trusted lender in the digital asset industry, we thank you for choosing Nexo and becoming part of our mission to decentralize global finance!"
What do you use that has a good yield?
yield?
Are you really considering BTC as “an investment”?
LOL in this case I consider you a troll shill for those DefiShit services.
Stop this madness please.
Yeild …yes…that is what defi’s do. Loan out and pay account holders in shared interest.
I see you wrote this. So tell me, how are you using your crypto?
AS MONEY. TO DESTROY ALL THOSE DEFI FUCKERS AND ALL BANKSTERS
That’s it.
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is NOT “crypto” is Bitcoin. That’s it.
Who says crypto is a shitcoiner and should not be here.
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I use Defi for BTC, ETH and others, hence I refer to it as crypto.
Copy of Mona Lisa is not Mona Lisa. There is no crypto, there is only Bitcoin, first, one and only digital scarcity. Enjoy your copies.
Yes, I love the copies 