Anyone taken a loan via Celsius wallet?

WATERCOOLER
#1

Hey crypto fam,

During this dip I am considering taking a loan out on the celsius wallet. My goal would be to buy more crypto currencies that can be staked like ADA.

The loan APR on a 25% LTV ratio is 0.75% and the gainz in ADA are a 4-5% staking reward before the potential rise for the Goguen release.

I understand there is inherent risk in the loan, but a 25% LTV would be hard to liquidate. I also understand the not your keys not your coin scenario, had the hand dealt to me already. Another concept would be to take out an insurance on the loan via Nexus Mutual, which I would need to recalculate the durational risk to reward… I am keen to see what celsius is doing with their own internal insurance coming soon though.

This could be considered yield arbitraging I guess, but I am curious to know what people would think of it…?

Thanks in advance!

1 Like
#2

Taking affordable risks is the only way to gain a good profit. In your situation, you are taking a reasonable risk.

#3

In any case, I advise you to consult with your accountant or with some professional broker services before taking any action, especially in the cryptocurrency market. Usually, I ask for advice from my Mortgage Broker London service. They helped me greatly with my investment plans during the COVID-19 pandemic. Have a good one, and I hope you will invest your money clever!

#4

As for me, the risk is very good, but you also need to take risks wisely.

#5

The wisest thing would be to consult a good specialist in this field. For example, recently, my friend decided to take a mortgage, but she had a lot of questions. Then she began to look for a person who understood this area well. Besides other companies, she consulted goodlifehomeloans.com, which gave her advice on how her parents should take a reverse mortgage. Good advice is indispensable.

#6

Hey Caleb, I hope you’re doing well! To be fair, I don’t think that ADA is going to do well in the foreseeable future. If I were you, I would focus on another cryptocurrency.

#7

I want to add : Moreover, I think you should avoid taking any kind of loan at any cost. I would say that taking a mortgage is the only possible exception. Nowadays, buying a house straight away is incredibly difficult because of insane real estate prices. However, I finally managed to achieve my dream and purchase a little cottage, being assisted by Mortgage Advisor Derby’s wonderful staff. That’s the kind of risk you should be looking for! Cheers.

#8

Taking a loan out on the Celsius wallet to buy more cryptocurrencies like ADA is definitely an interesting strategy.
However, it’s important to remember that there are inherent risks involved with taking out a loan, even with a 25% LTV ratio. It’s great that you’re also considering taking out insurance on the loan via Nexus Mutual, and it’s worth recalculating the durational risk to reward.
Consider talking to a mortgage broker in Worcester for more information and guidance on this type of investment. They may be able to provide you with valuable insight and help you make an informed decision.

#9

I recently got a promotional email from them with loan offers, and they seem really interesting. Indeed I need a loan now. So, I’m looking forward to hearing about your experience.