Bitcoin Forum

Is it safe to store Bitcoin in such a company?

Led by Alex Mashinsky, crypto lending startup Celsius says it's paying thousands of users interest for depositing bitcoin and ether in its wallet app……

https://www.trackcoinmarket.com/en/crypto-news/31795/voip-pioneer-startup-paying-users-interest-millions-crypto

if I think it's safe and not it depends on how the person uses it, because if we are careless and not careful the day must be prone to loss

It doesn't matter who is running the website and how rich he is and what are the possibilities of having an exit scam. It's very simple, If you control your private keys at all time, you're safe otherwise you're not.

While the company looks like it's actually a legit registered company(not sure, haven't done research), just like leaving funds on exchanges, I'm pretty sure your coins could still be possibly stolen. If you want to risk it, then go ahead. Though i'm personally not a fan of such sites as these kinds of services has always been quite sketchy for me regardless of the company running it.

No one is going to give you an affirmative answer on this as no one knows if it's safe or not,this system is anonymous and a lot more than you can imagine happens underground,you could even be linked with a fake website address and lose a lot of money..
  That been said its safety doesn't depend on whosoever is running it,and remember in this decentralized system trust absolutely no one but yourself as everyone is a scam until at least they are not ;D

Safety of your wallet is the safety of your fund. This is the key to safe keeping of your money in cryptocurrency trading. The site will claim every thing on earth about the safety of your fund if you will deposit your bitcoin with them. But one thing that you do not know is if actually what they claimed is true concerning the security of their site. Once they are hacked all funds are gone and will never be recovered and there is no guarantee from them insuring your deposit. so  be wise and safe keep your wallet.

In situation like this, i advice you use your discretion as not to be a prey in the hand of the hunter. To be greedy is to a victim in situation like this, so, never attempt to be greedy as a word is enough for the wise; mate.

Bitcoin was form in decentralized system, I don't see any reason to store bitcoin in the company which you are talking about. Because, any company  are being categorized in regulated business aspects, which means it is obvious engaged in centralized system. Otherwise, if you insist to store it in such a company it will be not safe at all.

Of course it is safe to invest your bitcoin in such a company, but you have to make sure that that company is established and trustworthy specially if you’re investing a lot.

It's a big no. If you want to get some kind of interest on your money, do it on banks which cannot run with your money since they are engulfed within regulations and laws. The dude advertising it is clearly running a ponzi scheme since there are no definite ways on how would he generate profits and interests for any deposit. Just keep your money and look for ways to invest it legitimately rather than handing it over to a relatively unknown company with false promises of profits.

the simple truth is that there is no safety in what you can control. freedom , privacy is key in investment and today's world. this is why people love and want cryptocurrency to takeover. anything other than this cant be trusted because the power dosen't belong to , it belongs to the house, and there decision is always the final whether its good for you or not.  

Yes, I really agree with you, it is safe not to depend on the company, but from ourselves, whether we can secure our own bitcoin, we do not need to be raided if we ourselves can and are safer

It is a good idea but you also should search whether it is a legit and trustworthy company or not.

All I know, the safest storage place is in your Bitcoin wallet. Bitcoin's principle, "The right to use Bitcoin, is fully used by holders". if you give your Bitocin, then you give have all the rights to use Bitcoin to the company it and the results if you are negative you must accept it. so I think you have to think again with what you will do.

I think this is also like having your coins saved for you with an exchange. Even with adequate research, anything can still happen, it is not regulated and because of this factor, it is risky. Registration is different from being regulated.

This is one old trick for a scam.
Once I saw this kind of offer using Australian dollar. They say you will just have to deposit the certain kind of currency and then you will get a percentage in return once another user loaned the money you have deposited.

Don't fall for it. If you really want to invest with something like that then, be really careful. See to it that the person running it have funds also in case something bad happens.

Bitcoin is based on the blockchain technology which relies on the principle of decentralization. Even though the decentralization has tremendous power, there is also a sense of responsibility and hence when it comes to crypto it's all about self-responsibility. One should always understand the fact that anyone having the private key or access to the fund has the ability to spend funds associated with that wallet with or without the permission of the owner.

I am afraid he is a Swindlers Company, then our bitcoin will probably be gone.

s this a centralization wallet?

in my opinion it is not safe, because I myself have experienced fraud and now I will not save anything except the official company and is well known in public. Con artists sometimes disguise themselves as if they are official partners of a reputable company, and I hope you are careful, it's better to keep your own assets without a third party

I'm afraid they are a Swindlers Company.

YES,I'm afraid they are a Swindlers Company.

if I read his personal data, Alex Mashinsky was a successful man who could establish a technology company in 1996. and in 2004 a smartphone srevis expert, a great achievement in managing a company.
But if you entrust Bitcoin to others, it will be very happy for yourself, the risk of losing your own Bitcoin, you must be more careful in using your Bitcoin

I would rather leave it on coinbase earning 0% interest than entrust it in an unknown unreputable company. For passive earning these can be converted into NEO and then left in the binance wallets. They will collect free GAS tokens on your behalf, but of course it is always better to use your own wallets

I think storing search amount of Bitcoin with enough mindset in something will always very beneficial for everyone but it may not be successful in all time so we cannot say this is the right way to invest or store in a single company two different ways and think more than twice it will very very helpful for to sing the better way this is my opinion.

Just like some experts say you shouldn't store bigger amounts in exchanges, this lending platform is a same example of for us.
Keeping your bitcoins on a platform you don't control private key has never been assumed safe, afterall it is literally like keeping your money into someone's pocket

ty

ok

@OP avoid posting multiple times in a row which is also against our forum rule which could be a reason for permaban,just delete multiple posts and try to post everything under one post.

It is never safe to store your bitcoins anywhere other than your wallet so you need to save only there if you invest it in someother website will it leads to problem.

OP, if you don't want to get reported, stop the spamming. 1 word posts with the quoting pyramids of doom is treading the line.

If you want to use Bitcoin properly, use your own wallet. Bitcoin's cryptographic security is infinitely stronger and safer than any type custodial service or centralised security, will last infinitely longer than any nuclear vault, and keeps getting stronger every day, whereas security on centralised custodial services are stagnant.

Case closed.

Not totally safe unless if you do put up your funds on a storage which you dont have the possesion of your private keys.Anything or 3rd party storages would act similar like exchangers or wallets that dont give out users keys which tendency of being or getting hacked or stolen funds is high. No matter how popular the owner or company would be you cant really remove the fact that anytime sooner they can ran of with users funds.