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[Crypto] Best of CeFi

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  • Jul 6th, 2023 8:05 pm
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[Crypto] Best of CeFi

I know there's a crypto mega thread but thought it'd be worth sharing a list I came up with ranking the best CeFi platforms to earn interest/dividends in crypto.


This thread
  • list excludes DeFi (DeFi is more complex, here we'll keep it simple)
  • ranks from absolute highest earn (regardless of payout currency, nationality eligibility or premium stake cost of entry) all the way down to highest earn on "in-kind, no-term, no premium, available to Canadians, available to Americans"
  • Will include the odd extra mentions at the bottom if the earn rates are neck to neck, but would have be be "in-kind, no-term, no premium"
  • may or may not include or offer deposit insurance, and may or may not have collateral in case a storm hits, so DYOR
  • list generally excludes CeFi's who don't onboard Ontarians. Note that non-Ontarians looking for solid CeFi earn rates may consider FTX. An "honourable mention" at best, because their higher earn rate has a fairly low cap

Also, I didn't post rates as they change often (with some more than others) BUT the ranks are usually fairly static. Celsius momentarily offered >15% on USD stable in the last bull market, but offer <10% on USD stable (at the time of writing).


Americans: Since Canada is only second to Mexico in number of American expats, I would imagine there are plenty here on RFD. While they can probably pass KYC for "no Yank CeFi" with Canadian ID & utility bill, I'll still include the best option for Yanks (note that they'll probably require a US ID and utility bill to pass KYC if they're a US exclusive).

Lastly, I won't include links to sites/apps in OP and throw in the usual disclaimer to not solicit referrals in thread.

I'll first list the ones that'll come up often with some sidenotes. The ranking will assume one has premium with the CeFi's that require it to unlock higher rates (without premium, consider skipping these, as their base earn rates are probably lower than the other ones listed).
  • SkullCelsius - no fiat, so must transfer crypto in/out. Key feature is they waive withdrawal fees. US friendly but sadly not the best rates most of the time for most of us. Pays out weekly and no term. Summer 2022 dead - can't withdraw
  • Crypto dot com (CDC)RFD thread; Earn Rates Knowledge Base Page - requires deposits in CRO to unlock higher earn rates (tied to "card tier"). Many of us on RFD have their prepaid card and CDC will often win on earn rates if one has among the top card tiers, otherwise consider other options (either for better rates, shorter terms, no premium requirement, diversification, etc.). Also known for horrible spreads in app (aside CAD<->TCAD). US friendly but US signups require SSN & US utility bill, and allows ACH fiat transfers only, whereas Canadian signups get fiat for CAD/EUR/AUD & sometimes GBP when it works. Note that their CeFi earn rates were slashed on 26/03/2022. Rates are tiered and starting rates were also lowered. In some provinces, account holders may be eligible for "spending power", and Crypto Earn contributes to the collateral of the secured credit
  • SkullHaru Invest - app coming soon, just use browser. Korean crypto traders incorporated in British Virgin Islands (it's a tax haven so totally checks out). Afaik US friendly. Market leading earn rates on BTC, ETH & USDT for both term and no term, also relatively low withdrawal fees. They don't seem to do any lending. They're quite small and claim to have collateral in cold storage in case things go South
  • SkullHodlnaut - App for iOS or use browser - iOS app link shared by @Niffler. Based in HK/SG, and no need for any premium whatsoever to unlock higher earn rates. Surprisingly US friendly
  • SkullMidas.Investments - solid earn rates on BTC/ETH/stablecoin/DeFi tokens, etc. They have reduced their rates since launch and have given us enough reason to believe they're legit. Their business model is "they do the DeFi for you"
  • Nexo - best earn rates require earning in Nexo and doing one month term, BUT no premium account upgrade required. Yanks excluded
  • SwissBorg RFD thread; Earn Rates Knowledge Base Page - Premium can be quite expensive now compared to early on for "value for money", but does unlock arguably the best spreads/earn rates on some assets. Dividends paid and reinvested daily. Yanks excluded
  • SkullVauld - Singapore based. No premium. Minimal/no KYC (sign in via Google, FB, or Coinbase) but no fiat ramp. Appears to be US friendly. Earn in-kind, best rates on 1 month term. Summer 2022 dead - can't withdraw
  • YouHodler - ***Note that YouHodler will require residency or citizenship outside of Canada (and the US)***another Swiss CeFi. They used to be Canadian friendly but that ended in 2023. Fiat on-ramp will require a real bank in Europe (not Wise) or wire EUR/USD/etc. (but not CAD)...and large amounts of fiat will trigger additional verification. But...they have Stasis Euro (EURS) that they swap at 1:1 with EUR fiat, and earns same rate as USD stable. Note that earn is on lowest weekly balance, so withdrawing mid-week you'd earn nothing on the withdrawn portion for the days prior of that week, also depositing a few days in will only start earning the following week

Bitcoin
  1. SkullHaru Invest
  2. SkullMidas
  3. Nexo
  4. SkullVauld
  5. SkullHodlnaut
  6. Ledn
  7. SkullVoyager - US only!! "Coming soon" for Canadians
  8. CDC

Ether (Ethereum)
  1. SkullMidas
  2. SkullHaru Invest
  3. Nexo
  4. SkullHodlnaut
  5. SkullVauld
  6. SkullVoyager - US only
  7. CDC

PAXG - gold stablecoin
  1. YouHodler
  2. Nexo
  3. SkullCelsius

USD stablecoin - USDC, TUSD, USDT & DAI
  1. SkullMidas
  2. SwissBorg - UST (best rate); USDC, USDT & DAI (lower earn)
  3. SkullHaru Invest - USDT & USDC
  4. Nexo - UST and must hold/earn in NEXO token to get boosted earn rate
  5. SkullVauld
  6. InLock - UST (best rate); USDC, USDT have lower earn
  7. YouHodler
  8. SkullHodlnaut - no TUSD
  9. Abra - no DAI. Abra same earn rates as Hodlnaut on USD stable, and is US based but doesn't seem to allow USD funding via ACH for non-US residents - DP @rhw123
  10. SkullCoinLoan
  11. CDC
  12. Ledn - USDC only
  13. SkullCelsius

BNB
  1. SwissBorg
  2. Nexo
  3. CDC
  4. YouHodler

BCH
  1. Nexo
  2. YouHodler
  3. SkullCelsius

LTC
  1. Nexo
  2. SkullVoyager
  3. YouHodler

DOGE
  1. CDC
  2. YouHodler
  3. Gemini - US only

ADA
  1. YouHodler
  2. Inlock
  3. SkullCelsius
  4. CDC

DOT
  1. CDC
  2. YouHodler
  3. Inlock
  4. SkullCelsius

SOL
  1. InLock
  2. Nexo
  3. CDC
Last edited by titaniumtux on Jun 20th, 2023 11:47 pm, edited 25 times in total.
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Thread Summary
CAD stablecoin
Crypto.com app (TCAD, flexible/1m/3m terms, also 1:1 fiat e-transfer on/off ramp)
Celsius (TCAD, flexible, free withdrawals)

EUR stablecoin
Coinloan (cEUR internal off-chain coin, flexible, SEPA fiat on/off ramp, free withdrawals)
Youhodler (EURS)
FTX/Blockfolio app (earn on EUR fiat, SEPA in/out, free withdrawals)
Nexo (EURX)
552 replies
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Image
That is roughly how much I get paid every week with Celsius, and that is compound interest on a scarce crypto.

To me they are the best in the industry, most transparent and incentives are aligned with the community. This is coming from someone who has been in crypto since 2015 and have tried almost most services.
Last edited by jcdogg on Nov 12th, 2021 4:53 pm, edited 2 times in total.
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Bitcoin & Crypto retired | Beat the inflation: Celsius earn up to 17% on your cryptos & stablecoins | CDC CRO Obsidian card 8% rewards
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jcdogg wrote:
Image
That is roughly how much I get paid every week with Celsius, and that is compound interest on a scarce crypto.

To me they are the best in the industry, most transparent and incentives are aligned with the community. This is coming from someone who has been in crypto since 2015 and have tried almost most services.
Which alt would that be? I find they are outperformed by other CeFi's unless you earn in CEL and hold a lot of CEL, but even then...
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titaniumtux wrote: Which alt would that be? I find they are outperformed by other CeFi's unless you earn in CEL and hold a lot of CEL, but even then...
Image

My biggest holdings use to be Bitcoin and Ethereum, which I first started buying Bitcoin in 2015, but this year I sold most of it to Celsius because I believe they are the next on track to become the leaders in CEFI.

Everything they do is on point, most transparent ( Youtube AMAs weekly with family, co workers, etc), they give the most back to community (80% back, some services might be able to provide you higher temporary yield but they don't usually last long term, especially when they are not transparent and you cannot tell the type of risks they take with your money, don't get rug pulled), Celsius has the best team in the crypto space, founder Alex Mashinsky created 3 unicorns and inventer of Voice Over IP, a technology we all use today in the billions Skype, WhatsApp, Facetime, Messanger, etc this guy knows acutely what it takes to bring crypto into mass adoption). The list goes on the more you dig deeper, I'd suggest you to go down the rabbit hole of the Celsius Network Youtube: https://www.youtube.com/channel/UC3yZY7 ... BuyNuPinbQ and really educate yourself as it will pay off tremendously.

We are only at about 2 percent global adoption in terms of crypto, if you play your cards right you could pick the next Apple/Facebook/Google of the crypto era. The opportunity is now becuase we are still very early. Good luck.
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Bitcoin & Crypto retired | Beat the inflation: Celsius earn up to 17% on your cryptos & stablecoins | CDC CRO Obsidian card 8% rewards
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The balls on ya to sell all your bitcoin lol -- I can't do it, but I am definitely going to move some more Fiat into TCAD and do the 3 month locked 12% stake -- can't beat it in terms of ease of use!
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What do you recommend is the best way to onramp to Celsius?
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Siralex wrote: What do you recommend is the best way to onramp to Celsius?
  • Newton
  • Coinberry
  • Shakepay
  • CDC but only for TCAD
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I am a crypto newbie and so still learning. In the meantime, I am using blockfi.com which is currently offering 8.6% APY on most US stablecoins, with USDT at 9.3%. What I like is that you can withdraw stablecoin once a month for free (and also crpyto such as BTC once a month for free - for BTC the rate is 5%) https://blockfi.com/rates/
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titaniumtux wrote:
  • Newton
  • Coinberry
  • Shakepay
  • CDC but only for TCAD
Thanks! As a newb, which coins would you recommend to test the waters with? I read USDC is a safe choice.
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Siralex wrote: Thanks! As a newb, which coins would you recommend to test the waters with? I read USDC is a safe choice.
I prefer USDC for stablecoins, just because I trust Circle & Coinbase a lot more than Tether.

Paytrie.com is another option for easily getting CAD (e-transfer) into stablecoins.
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Siralex wrote: Thanks! As a newb, which coins would you recommend to test the waters with? I read USDC is a safe choice.
Try a bunch. Stablecoin is great, but also DCA into Bitcoin and Ether.
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Torn between focusing more on growth (ie. bitcoin, alts and potential massive gains) -- or stable coins (no growth, high APY for passive income, stable)
>Wake up and take the orange pill ...
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superscoots wrote: Torn between focusing more on growth (ie. bitcoin, alts and potential massive gains) -- or stable coins (no growth, high APY for passive income, stable)
I started off with Bitcoin, Ethereum, and some altcoins. once I've realized 3-5x gains on my cryptos I started peeling off gains into Stablecoins. Keep Stablecoins in my Celsius wallet to earn high percent yield (11%), wait for big correction/dips and buy back in to compound my gains. Stablecoins also helps with the volatility of your portfolio, so make sure to peel off profits on the way up, as euphoric as you might feel, it will never hurt to take some profit on the way up, especially when you can use those stablecoin gains to compound your yields.
Last edited by jcdogg on Jun 15th, 2021 11:35 am, edited 1 time in total.
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At what point are there tax implications? Upon selling BTC or ETH and moving to stablcoins?
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Ketchenany wrote: At what point are there tax implications? Upon selling BTC or ETH and moving to stablcoins?
Capital gains.
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Ketchenany wrote: At what point are there tax implications? Upon selling BTC or ETH and moving to stablcoins?
From the CRA Guide for cryptocurrency users and tax professionals:

What is a disposition?
This refers to the way you get rid of something, such as by giving, selling or transferring it. In general, possessing or holding a cryptocurrency is not taxable. But there could be tax consequences when you do any of the following:

- sell or make a gift of cryptocurrency
- trade or exchange cryptocurrency, including disposing of one cryptocurrency to get another cryptocurrency
- convert cryptocurrency to government-issued currency, such as Canadian dollars
- use cryptocurrency to buy goods or services

It could be taxable as business income or capital gains, depending on your activity. Again, more information at the link.
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titaniumtux wrote:
  • Newton
  • Coinberry
  • Shakepay
  • CDC but only for TCAD
Thanks, noob questions here :)
-What's the benefit over Coinberry over Newton and Shakepay? Anything better?
-CDC, I can't seem to find a clear idea of the fee schedule, and what I find seems to be contradictory. Would you have a summary? (e.g. average spread, common fees (like is it $24 or $4?))

I am thinking of CDC since it has TCAD (for deposit here or in Celsius based on the rate).

Thanks.
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martydxb wrote: Thanks, noob questions here :)
-What's the benefit over Coinberry over Newton and Shakepay? Anything better?
-CDC, I can't seem to find a clear idea of the fee schedule, and what I find seems to be contradictory. Would you have a summary? (e.g. average spread, common fees (like is it $24 or $4?))

I am thinking of CDC since it has TCAD (for deposit here or in Celsius based on the rate).

Thanks.
CDC currently has 0 spread for CAD <-> TCAD transactions. The fee for transferring TCAD out of CDC is 4 TCAD flat.
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martydxb wrote:
Thanks, noob questions here :)
-What's the benefit over Coinberry over Newton and Shakepay? Anything better?
-CDC, I can't seem to find a clear idea of the fee schedule, and what I find seems to be contradictory. Would you have a summary? (e.g. average spread, common fees (like is it $24 or $4?))

I am thinking of CDC since it has TCAD (for deposit here or in Celsius based on the rate).

Thanks.
albithedragon wrote:
CDC currently has 0 spread for CAD <-> TCAD transactions. The fee for transferring TCAD out of CDC is 4 TCAD flat.
Aside TCAD, spreads are ~3-4% in app and 0.4% on The Exchange.

Newton's great. Coinberry also low spreads. Newton often covers withdrawal fee (but not always). Coinberry has a small withdrawal fee. SP no withdrawal fee, but spread's ~1.5-2%.

Newton has best list of cryptos to buy. Coinberry is ok. SP only BTC and ETH.
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Has anyone used Ledn and their experiences? They are based in Canada I believe. Only can do Bitcoin and USDC.

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