Bitcoin Holders have an opportunity to earn interest due to cred partnership

[seramania]

Will the partners who provide bitcoin loans have a bank-like concept? So if someone borrows 0.5 bitcoins, then that person has to keep returning 0.5 bitcoins? Even partners don't care if bitcoin has the slightest price crash, what they think is the brand should return the bitcoin that they borrowed from the partner. is it like that ?

[Zionatin]

Not your keys, not your coins.

Many newbies could indeed fall for this "offer", but beware, they usually have only some Satoshi and may be disappointed if they won't see (unrealisticly) big growth in their wallet.

On the other hand, I don't think that people holding many bitcoins for long time will go for this for 2 big reasons:
1. why risk to lose big money for small returns (when bitcoin itself gives nice returns alone)?
2. Roger Ver's site/wallet is known for scamming people into buying bcash and believing they hold Bitcoin, why would anybody sane keep their bitcoin in those guy's custody?!

"Not your keys, not your coins." I always remember this golden rule when investing. If your crypto is sitting in another persons wallet on some exchange or something they coins are not yours. This is why if I do invest in something I prefer to invest in the coin itself since I then own it. Or even better a node which is also under my control and I gain interest from my own holdings and not interest from some magical company or wallet or anything else. It scared me to see all these wallets available on the google store. I mean.... Don't you add your private keys to these wallets? Even without understanding bitcoin that doesn't seem like a good idea.
Nothing is stopping someone making a wallet uploading it to the google store then just stealing all the keys?

[mksundip]

Since bitcoin is one of digital asset, many people always think if Bitcoin can be used to earn interest like ERC-20 token or dividend. This greedy mindset can make you fell to scam. Even actually lending or invest in casino bankroll can earn interest, it doesn't safe at all. You can earn 4-8%/year or you loss all of your coins.

Just hold Bitcoin in your own wallet and wait it until reach to the moon.

the risk is too big to run, even it does not guarantee that it will provide continuous profit according to the existing contract. So the best step is to be careful, hold assets and tungfu at high prices then sell at high prices. this minimizes risk but provides a large profit

[Rengga Jati]

At first, I thought this was an interesting idea, but still thinking, is it possible to believe this? And still too confusing for the mechanism.
Then after reading some comments from members here regarding the scam carried out by Roger Ver, where he is the CEO of bitcoin.com, then ouch, I prefer to resign.
Indeed, in any case, any investment should be scrutinized more carefully, gathering as much information as is needed so that we don't get caught up in a scam that is getting here increasingly varied and convincing.
So the conclusion here, it seems that I prefer holding my BTC in my wallet or trading it on exchanges rather than investing on that site.

[rexxarofmoknathal]

Don't promote another one of Roger Ver's scams.

People who will use this wallet and its interest earning feature are risking their coins in many ways - this system might get hacked, it might pull an exit scam, they might get mislead into buying bcash, or do incorrect transactions, they will forfeit their privacy and so on.

Roger Ver is one of the most untrustworthy people in crypto, right there together with CWS, and only stupid or clueless people would put their coins in his projects.

I agree the notorious Roger Ver is not to be trusted. The fact that he is at the centre of this already puts many people off including me as this just doesn't smell right. There are many exit strategies if this is a scam (probably is) many of which have been listed previously, and so then why even risk your money 

If you want to earn interest on your BTC you can do so from many reputable exchange platforms. No need to risk when the reward is not even comparable!

[MCobian]

Although the offer of interest is quite interesting, but when it comes to bitcoin.com and Roger Ver, I decide to avoid it. A bad reputation is
the reason I am not interested in investing in these investment projects. Because the possibility of exit scams is very large. Only greedy
people are interested in accepting the offer of interest from Roger Ver, which in the end they will become victims of fraud. My advice is stay
away from the offer to earn interest from bitcoin.com. It is better to staking or trading on popular exchanges.

[taufik123]

When I hear about earning interest by holding bitcoin, of course what I think about is getting interest in the form of BTC or other valuable coins.
But when all we get is junk coins that don't necessarily have the price, then it's not worth it at all. Bitcoin is the most valuable digital currency, so what we should get as interest from partnerships should be coins that have a good reputation and price.
Instead of a possible scam going on, Altcoins that are given out as interest to holders don't have a fair price.

[sheenshane]

IMO, probably 100 percent, not unless if they can offer us good collateral which we can use while we continue our job and theirs also, but what collateral could it be? I somehow consider it as loan not lend, trust issue of course it is. There will always risk on it, it might a doubled-edge sword that has a huge impact when were loose.

Scammer's targets always are small scale holders but huge in a quantity equivalent to a huge amount of cryptocurrency. Therefore, this is a very crucial thing.

[meanwords]

I don't really know the whole story of BitClub scam but I wouldn't trust this project fully since Roger Ver is known to outrageously promote his shitcoin and talkshit Bitcoin. But suddenly he is giving opportunity to Bitcoin holders to get interest. Though this might give a lot of people opportunities to gain passive income from this, it's still good to be vigilant since this might fail anytime.

[Ridwan Fauzi]

There are a lot of ways to earn an income beside trading but I don't know I just have a little scared from those services, we can earn money without didn't do anything and it most likely didn't happen in real life. So, when here this information in this forum and also in another some place ralated to crypto currency I always passed it.

I just thinking that trading and investing is a good way so far, we just need to choose reputable exchange and must have some ability to predict bitcoin's price movement. Yeah, just count we study about some strategy is is a sacrifice that we must passed first before we have a profit consistent. Because by doing that, we can earn money as much as we can and there is just 10% we lose our money if we have mastered some knowledge.

[suzanne5223]

This looks tricky... first i think, how they will pay interest if bitcoin is limited, they can't invent more BTC just to pay interest, and the i read about those interest getting payed with tokens and altcoins. This doesn't sound nice to me, feels like a bait to let that business hold our coins, can you smell the exit scam or the hack in the air? i do.

Glad you understand something is fishy about the whole concept and I hope newbies and investors out there wont fall for this strategy because bitcoin.com wallet didnt have good characteristics for users to gain or have access to their fund when they update their wallet fo new version and was what i experienced in the year 2017.
Guys, stay away from anything that have to do with Ver wallet.

[DougM]

I am glad you asked about cred because I was curious myself. Nothing like a FAQ written by an avatar to inspire confidence especially with this non answer  

https://intercom.help/CredPartner/en/articles/2810556-why-should-we-trust-cred

Why should we trust Cred?
Xavier avatar Written by Xavier Updated over a week ago
Cred has built a talented and experienced team of crypto-asset, technology, and finance enthusiast's focused on providing valuable products to our customer base. In addition to our team, our key partners were selected based on our experience, track record and leadership in the crypto community.

Cred offers 24/7 support for any user questions, as well as a private client team specifically catered to helping you get started with Cred.

[goldade]

As much as this looks promising especially to newbies, it is equally fishy. There are certain questions that needed to be asked.
1. Where would the interest be gotten from? Since there's a limited supply of coins,  how do they intend to generate coins to pay as interest?
2. Why should one be paid interest in altcoins? It is unreasonable to make an investment in BTC and get interests in altcoins. Why would one want to be paid in altcoins rather than BTC

I especially think this is a scam and should be treated with caution