seems untenable really.
but. i did look around the site. no taxable event moving a coin there (or out i presume?). interest paid in same crypto as deposit. 1099 tax form sent with interest made for tax purposes. so you are taxed only on the interest. not sure how they figure that in USD when interest was in btc..
if you dont mind losing it, might be worth a play (for some). 1 btc or 45 eth minimum.
of course "not you keys not your btc."
risky but if you dont mind losing it all it might be appealing to some. as it would earn 6% that the btc in yer cold wallet doesnt.
nice, till you lose 100% of it. ooops
I follow one simple rule. I never do any "business" with anyone if I don't understand their business model and exactly know how THEY are profiting in the dealing. As I can't see here how they could profit from it it's a no-go for me.
agree.
i glanced briefly at the loan stuff that seems to enable this 6%. for loans, seems a lotta collateral needed and its current value compared to the remaining load amount is constantly reevaluated and may need additional collateral or payments at any time. and its high interest, but i dont remember the amount.
didnt really try running numbers (interest paid vs loans income) as im not that interested. maybe someone else could see if its even remotely possible with the numbers they give.