CoinRabbit Helps to Earn, Trade, Grow and Borrow Crypto Asset.

[Doan9269]

I was privileged to come across this cryptocurrency assets management platform, which offers diverse opportunities for investors to maximize their potential while ensuring they continue to hold their Bitcoin with CoinRabbit and acquire other coins for use.

 Which means, it is possible to invest and later discover you need an emergency fund and couldn't afford to sell your Bitcoin or crypto assets, a platform like this comes in with various investor opportunities for you to get stables instead of selling your Bitcoin. At the same time, you can also earn, trade, grow, or borrow crypto assets with them.

It does not end there, I learnt that they have various opportunities ranging from a flexible plan for loan, secured cold storage, 24/7 customer service, and lots more.

Has anyone come across such or used CoinRabbit?

[tabas]

I have checked the website and it's the same like the usual exchanges such as nexo that have also the same feature like loaning and borrowing against your btc. As for the earn feature, it requires the users to deposit the crypto they'll want to earn with and that means entrusting it to them and that's the stake feature for most of these platforms. The website says that they have 100% reserves but I am trying to find it but can't see how much they have in reserves.

[Doan9269]

I have checked the website and it's the same like the usual exchanges such as nexo that have also the same feature like loaning and borrowing against your btc.

That's true, platform like this provides opportunities for crypto users to secure their assets instead of selling it and gets stables, they supported a number of coins, which is a unique opportunity for crypto users, I do find myself also in situations like this, in need of an emergency fund and don't want to sell my BTC.

As for the earn feature, it requires the users to deposit the crypto they'll want to earn with and that means entrusting it to them and that's the stake feature for most of these platforms.

CoinRabbit platform mentioned that they don't do rehypothecation, and they make use of a cold storage for their asset, which is what I found on their platform.

The website says that they have 100% reserves but I am trying to find it but can't see how much they have in reserves.

Do other platforms states or provide their reserve and one is able to track?

[Zwei]

It does not end there, I learnt that they have various opportunities ranging from a flexible plan for loan, secured cold storage, 24/7 customer service, and lots more.

the secured cold storage is just marketing bs, along with more stuff like that on their website. the real stuff is in the terms, which hardly anyone checks: https://coinrabbit.io/terms-of-use/

Has anyone come across such or used CoinRabbit?

first time i hear of them. you are talking about coinrabbit.io, right?

The website says that they have 100% reserves but I am trying to find it but can't see how much they have in reserves.

Do other platforms states or provide their reserve and one is able to track?

one thing i know, if a lending website or whatever doesn't publicly show proof of said reserve (an address you can check) they are lying about it.

[Doan9269]

the secured cold storage is just marketing bs, along with more stuff like that on their website. the real stuff is in the terms, which hardly anyone checks: https://coinrabbit.io/terms-of-use/

That's true, it is expected that one should first read the policy of a given platform, not only for knowing sake, but it helps us have aligned expectations together.

first time i hear of them. you are talking about coinrabbit.io, right?

You're right, coinrabbit.io was the actual site.

one thing i know, if a lending website or whatever doesn't publicly show proof of said reserve (an address you can check) they are lying about it.

This is very common with many platforms, but unsure if their liquidity/reserve is made available for public view, I think I will have to explore more about them as this is getting interesting.

[Z-tight]

Has anyone come across such or used CoinRabbit?

I have neither come across this website, neither have i used it. I am not a fan of borrowing against my BTC for obvious reasons. They offer a 5% APY in their earn program, so at least it does not give the impression of a HYIP. However, you would have to be completely certain to use an 'unknown' website like this one, so you do not get scammed, so i think it is better if you don't recommend them yet.

[Zwei]

the secured cold storage is just marketing bs, along with more stuff like that on their website. the real stuff is in the terms, which hardly anyone checks: https://coinrabbit.io/terms-of-use/

That's true, it is expected that one should first read the policy of a given platform, not only for knowing sake, but it helps us have aligned expectations together.

i skimmed thru their terms, and basically, if anything bad ever happens, they hold no responsibility, so whoever uses their services is taking on the full risk while they milk them for profit.
and if you look for reviews online, you will see users complaining about getting liquidated even when their loans are fully covered.

one thing i know, if a lending website or whatever doesn't publicly show proof of said reserve (an address you can check) they are lying about it.

This is very common with many platforms, but unsure if their liquidity/reserve is made available for public view, I think I will have to explore more about them as this is getting interesting.

they don't. there is no proof of reserves, and they have never been audited or hold any kind of license, not to mention they are operating from an offshore island in the caribbean.

so i would say it's not the best platform to borrow money against your bitcoin or invest to get that 5% APY from their earn program.
and definitely not to be used as a wallet/exchange since they offer that as well.

[Zoomic]

I was privileged to come across this cryptocurrency assets management platform, which offers diverse opportunities for investors to maximize their potential while ensuring they continue to hold their Bitcoin with CoinRabbit and acquire other coins for use.

I love how you phrased the sentence that I bolded. You acknowledge that the customer will continue to hold their bitcoin with Coinrabbit. This simply means they are no longer in possession of their bitcoin. They don't own it because they have given it up. So, the customer needs just to believe Coinrabbit that the bitcoin is intact with them.
 

Has anyone come across such or used CoinRabbit?

Nah, just my first time to hear about them.

[BitMaxz]

I've never heard of this before, but the offer is interesting; however, they have complete control over your funds, and it appears that while holding BTC, they deduct monthly interest from the BTC you deposit after taking out a loan. It appears to be similar to what banks offer, and you can earn money simply by saving your money with them and earning interest.

For me, I can't trust a service like this; I don't like others to control my wallet. If I am going to take a loan, I am going to use the banks instead of using a service like this; there is not so much information, and no one shows a real success using their platform.

Or if I want to get some earnings interest, then I might use Binance or OKX, which is more trusted than Coinrabbit.

[Doan9269]

Has anyone come across such or used CoinRabbit?

I have neither come across this website, neither have i used it. I am not a fan of borrowing against my BTC for obvious reasons. They offer a 5% APY in their earn program, so at least it does not give the impression of a HYIP. However, you would have to be completely certain to use an 'unknown' website like this one, so you do not get scammed, so i think it is better if you don't recommend them yet.

You are right, the scam aspect of it is what everyone is more afraid of, but looking at their offers being stated as you have mentioned of 5% APY and I also confirmed flexibility of LTV up to 50–90% on the platform, it will be difficult to have doubt about them, even though their 5 years experience in the business and other findings on the platform were being considered and established, some may give a benefit of doubt and share experience to others, this may be the exact solution/alternative to some.

[Z-tight]

[You are right, the scam aspect of it is what everyone is more afraid of, but looking at their offers being stated as you have mentioned of 5% APY and I also confirmed flexibility of LTV up to 50–90% on the platform, it will be difficult to have doubt about them, even though their 5 years experience in the business and other findings on the platform were being considered and established, some may give a benefit of doubt and share experience to others, this may be the exact solution/alternative to some.

This does not make them legitimate. I don't know if they are, but as long as there is that doubt, it is a big risk to make use of their services. Another point is that you can get similar offers in other platforms that are more popular than they are, so the smart thing to do is to go for services that many people have used and you can get reviews on.

I don't have anything against this service, if later on they get more popular and people start to share positive reviews about them, then i'd be the first to recommend them. But until then, the safest thing to do is to proceed with caution.

[Darker45]

Are you really the one privileged to come across this service? Or is it the other way around?

Have we not been here in the past? Have we not learned our lessons from BlockFi and Voyager and Celsius and others?

I'm wondering if you're simply smitten with their marketing lines or you're truly amazed at your actual experience with them. Either way, it seems you got it wrong when you said that users "continue to hold their Bitcoin".

It seems obvious that the service is centralized and custodial. Moreover, in their Terms and Conditions, CoinRabbit clearly states that: "...by virtue of this Agreement CoinRabbit acquires the ownership of the Digital Assets transferred into CoinRabbit..."

[davis196]

Are you talking about coinrabbit(dot)io? This seems like yet another crypto lending platform. I've checked their Trustpilot ratings and surprisingly they have a pretty score 4.5 out of 254 reviews. Trustpilot reviews can be faked and incentivized, though. Most people are praising the platform for the active and helpful customer support, and there are people, who complain about their collateral being liquidated without prior notice. I wouldn't use my BTC as a collateral, since I'm not interesting in getting a loan against my Bitcoin holdings. I don't understand why do people still use such crypto lending services. OP, it seems like your promoting this platform. Please be honest about this and disclose your relations with this crypto lending service.

[stompix]

Which means, it is possible to invest and later discover you need an emergency fund and couldn't afford to sell your Bitcoin or crypto assets, a platform like this comes in with various investor opportunities for you to get stables instead of selling your Bitcoin

Oh , what an opportunity...



So, I give a company 1 BTC and they give me half of that in usd and now I have to trust they will give me back my coin when I pay my debt
I pay a service fee of $265 that would be illegal with any bank in the Western world.
And I will just pay 12% interest rate, twice as much as a normal bank.

Of course, if BTC dumps just for a minute below 45k, all my coins are gone!
And some still ask why people use banks and not these crypto loan services.

Opportunities...lol