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21 sats \ 6 replies \ @DesertDave 14 Sep \ on: how do people feel about btc-backed loans? bitcoin

I used to borrow against my bitcoin and buy more bitcoin with NEXO. I think they have collapsed since then. It was really just leverage trading in disguise. Not a good idea. I imagine this will be happening for a while.

11 sats \ 5 replies \ @Fabs 14 Sep

Nah, still standing.

0 sats \ 4 replies \ @DesertDave 14 Sep

Wow. I'm surprised. I stopped using them when it started to get challenging to pull Bitcoin out to a wallet. Didn't feel good. Do they still let you buy Bitcoin with money borrowed from Bitcoin?

11 sats \ 3 replies \ @stack_harder OP 15 Sep

i used to hodl on nexo and use their credit card for cash back but they shut my account down because i was logging in outside of the UK. don't mind as i went to self storage after that, nexo token hasn't reached it previous ATH, as with many shitcoins

11 sats \ 2 replies \ @Fabs 15 Sep

Yeah, I've never pulled the trigger on it, feared to be caught in some beaurocratic shenanigans or loss of funds a la CELSIUUUSSS!

11 sats \ 1 reply \ @stack_harder OP 15 Sep

i got out just as we had the string of cexs going down and i was shitting it a little bit. i had also read something on reddit by someone who claimed to work at nexo's head office in Sofia and they were saying how the bosses were always throwing lavash parties and driving sports cars etc. very bad vibes and very fiat.

they took like 24 hours to process my btc withdrawal also which was terrifying, but a valuable lesson

43 sats \ 0 replies \ @Fabs 15 Sep

who claimed to work at nexo's head office in Sofia and they were saying how the bosses were always throwing lavash parties and driving sports cars etc.

Wouldn't surprise me, I'm glad I didn't touch it.