Wednesday 27 January 2021

The truth about earning interest on your Bitcoin


I just realized this, Yeah many of you must already know and think this is obvious, but I've never seen anyone talk about this so I'll post It anyway.The truth is the bitcoin you put in a savings account is being loaned and being used by short sellers, there is no other use for borrowing Bitcoin with a collateral other than shorting It. So if you think that by holding your Bitcoin in an exchange savings account you are doing your job as a holder, think again. It is quite obvious when you think about It, your Bitcoin is being actively used by short sellers to short Bitcoin, in the best case scenario you are just making their loans cheaper.So If you are a true Bitcoin maximalist and believer, you will take all your Bitcoin out of any exchange or lending platform. via /r/Bitcoin https://bit.ly/3pqAtR0

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