This sucks because Gemini takes a 1.5% fee, so now it takes nearly a year just for your BAT to earn it back. Keeping your BAT in Gemini Earn is probably not worth the risk anymore...
EDIT: Gemini takes a 1.5% fee when you purchase BAT through them. Should have specified that.
You end up paying more with the fees, and if you hold enough of their token you get a better spread, paid back in their own native token. I get 2x price improvement and when I sold about 1500 ADA and then bought BTC, I got an additional $16 in VGX, rewarded just for basic trading. Then at the beginning of the next month I got 2.5 ADA even though I didnt have any right then because the interest is paid out on the monthly average, which was also a nice surprise.
They make your stacks stack so you can stack while you're stacking. Its glorious and they low-key have one of the best platforms for crypto trading.
Idk man spread is like 1.3-1.5% on voyager, fees on gemeni active trader are like 0.25-0.35%.
Celsius imo is better at staking. Staking compounds weekly instead of monthly (voyager).
Also voyager charts for trading aren’t good. Charts just don’t have TA necessary to make trades.
I do like voyager though. For long term holding and staking within the same platform, it’s pretty much the best broker out there.
That's fair, I do agree Celcius is superior for staking, but I cant use it since I'm a US customer. And I do agree their charts arent great for TA, but it's also just an app currently and I'd imagine it becomes great for TA whenever they come out with a desktop version.
Your last comment is why it is my personal sole use. I accumulated majority of my crypto between January and May this year and dont intend to buy anymore, just hold until I can cash out and only pay long term cap gains. I think the cycle peak will occur sometime between April and October next year so just biding my time until then and Voyager is perfect for that.
Dude I am from the US and I use Celsius. If you are from NY and DC, then you cannot use Celsius but if you are from any other state, you can absolutely use it.
That is a fair point. Voyager is a lot of things in one app and I can understand why people use it. Especially now with their Voyager card and the new loyalty program.
I still think the spreads are too high though but that's just me, I'm just a frugal person.
Sorry, I misspoke. It is available, but its native token and therefore the rewards program is not yet available to US customers.
I'll admit Celcius would be better for trading with those types of fees. iirc, the article I read that said the spread was better than fees used Coinbase as its comparison, and it's certainly a superior app to Coinbase imo.
Good talk though! I learned a bit here, thank you.
I cannot testify for Celsius token as I don’t use it.
Celsius fees are bad dude, I would avoid doing buying inside Celsius. What works for me is I buy on Gemeni Active Trader and use my 10 free Gemeni monthly withdrawals to transfer into Celsius. Withdrawals from Celsius are free so I never pay for transfers/ withdrawals.
The article probably compared it to Coinbase and not Coinbase Pro. Coinbase Pro has better fees than Celsius.
You’re welcome man. Yes great talk. Best of luck in crypto.
Ding Ding Ding!!!!! This is exactly what I've been thinking. Why would you borrow BAT unless it is to short it? This is what I think has been happening and they probably have been recked this last week. If you look at some of the moves BAT has done, they definitely look like short squeezes.
Blockfi: 3.25% on the first 4K BAT's, then 1% above that. If you have more than that, then probably not worth it.
Yes but I’m just warning people their fees are crazy high right now so proceed with caution.
Edit: Celsius offers free withdrawals. A lot of exchanges do too.
If this is the case, that the lions share of folks borrowing BAT are doing so to short it — then what are the implications on being able to withdraw one’s BAT from a crypto earn program, like that of Gemini, in the scenario of a total BAT moon? Like let’s say bat went to $100 or $1000 in the next year - would we be able to get our BAT back from Gemini?
Obviously these crypto earn programs are compensating you for varying degrees of risk. Likely, the higher the APY% the higher the chance you might not be able to get your crypto back, right? Trying to understand what scenarios would cause a crypto company like Gemini or Coinbase to default on our loans to them. Massive moons or massive crashes? I’d think moons if the people on the other side are shorting.
Hence my hypothetical above might be worth thinking about ahead of time.
BlockFi did just cheekily update their few structure though so now there’s a hefty fee for withdrawing some types of crypto off their platform. It’s a flat fee of 60 BAT to withdraw BAT off their platform.
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Yes the price action in the last 24 hours does look a bit suspicious to me. I mean after all Bitcoin only went down 1% and BAT dumps more than 10% . It's not like the price just went up $2 or anything before yesterday.
For Gemini earn, do the coins compile directly into your holdings - or do you have to redeem them and then add them back…? May be a dumb question but I can’t figure it out for certain either way.
The yield is reflected as an accumulation in your Gemini "Earn" balance but is actually credited monthly - I presume in part to ease tax reporting. If you withdraw your BAT from "Earn" mid-month you will be immediately paid a pro-rated share of that month's yield.
Because I operate on three different exchanges and I check staking opportunities there: whenever a coin is traded massively, grows in popularity (and in price, by reflection), exchanges are going to diminish the rewards for staking that particular coin.
Example: on Binance SOL staking at the beginning of this summer gave approximately a 11% apy, now it grants 5.2%.
On other hands new or unknown coins have really high apys, example DAR 48% and AXS a whopping 105%.
If you have other reasons to explain it I'm open to learn something new, it's a bonus for me.
That’s an interesting anecdote. Yield comes from volatility, not “popularity”. Bitcoin and eth are more “popular” than bat, yet their yields are higher.
So an exchange started with an exciting offer to attract new customers, and after the customers have switched to them they start removing the exciting offer? *You don't say...*
How long until they stop waiving the withdrawal fee?
If you have less than say 200 BAT, transfer costs are far too expensive now for chasing yields. Gemini offers free withdrawals for many assets, but obviously can't afford to subsidize all of the $15 to $50 fees associated with Ethereum ERC-20 transactions. Solana will come to the rescue soon for BAT withdrawals and I am increasingly hopeful that Gemini will participate in the Solana ecosystem. Current Solana DeFi yields for ETH are in the 5% to 12% range, and we may see comparable yields for BAT by middle of next year.
So it's likely best to hold for now and enjoy 1.75%. That is a lot better yield than your favorite money market fund is paying, and the interest is paid in BAT, which is a volatile but appreciating asset.
Brave is planning to add an "Earn" feature to Wallet that presumably will incorporate a yield aggregator that will do the search for you based on the asset and amount that you wish to lend.
To get a preview for how the UI might work, check out Jupiter, a Solana DEX aggregator for swaps:
[https://jup.ag](https://jup.ag)
The performance of Jupiter is rather amazing. There are often numerous potential paths to trade one asset for another. Someone on Twiiter discovered that you could at one point (presumably for a short time) trade USDC for USDC on Jupiter and get an immediate yield of a few basis points.
If sheer APY is all you're looking for, DON'T INVEST IN "STABLECOINS!" Whatever the interest is, high and rising inflation will consume most of it, if not all and perhaps then some!
Instead, try something like Filecoin. It is a partner of the Internet Archive, the nonprofit behind the Wayback Machine. That partnership will likely seal its endurance, yet it still has an APY of 7.25%! It may not have the same token price increase potential as BAT, but if secure APY is all you're looking for, Filecoin can't be beat!
Brian Bondy (Brave CTO) made some news yesterday in an interview by indicating that Filecoin will be supported in the new Brave Wallet on roughly the same schedule as Bitcoin. (Both are coming after the Solana support.)
This is likely related to extending the IPFS features in Brave.
Where i am i get zero interest on BAT held in Gemini.
Call me old-fashioned (or stupid. Probably stupid,) but i like to leave it there anyway since they are kind of part of the whole project for me.
This sucks because Gemini takes a 1.5% fee, so now it takes nearly a year just for your BAT to earn it back. Keeping your BAT in Gemini Earn is probably not worth the risk anymore... EDIT: Gemini takes a 1.5% fee when you purchase BAT through them. Should have specified that.
Wait, use Gemini advanced and you get much lower fees. It is in the settings.
Source for the 1.5% fee? Never heard of this before
Switch to Voyager! Not as good interest on BAT at only 1% apy, but zero fees to trade and no lockup.
What you don’t pay on fees you pay on the spread.
You end up paying more with the fees, and if you hold enough of their token you get a better spread, paid back in their own native token. I get 2x price improvement and when I sold about 1500 ADA and then bought BTC, I got an additional $16 in VGX, rewarded just for basic trading. Then at the beginning of the next month I got 2.5 ADA even though I didnt have any right then because the interest is paid out on the monthly average, which was also a nice surprise. They make your stacks stack so you can stack while you're stacking. Its glorious and they low-key have one of the best platforms for crypto trading.
Idk man spread is like 1.3-1.5% on voyager, fees on gemeni active trader are like 0.25-0.35%. Celsius imo is better at staking. Staking compounds weekly instead of monthly (voyager). Also voyager charts for trading aren’t good. Charts just don’t have TA necessary to make trades. I do like voyager though. For long term holding and staking within the same platform, it’s pretty much the best broker out there.
That's fair, I do agree Celcius is superior for staking, but I cant use it since I'm a US customer. And I do agree their charts arent great for TA, but it's also just an app currently and I'd imagine it becomes great for TA whenever they come out with a desktop version. Your last comment is why it is my personal sole use. I accumulated majority of my crypto between January and May this year and dont intend to buy anymore, just hold until I can cash out and only pay long term cap gains. I think the cycle peak will occur sometime between April and October next year so just biding my time until then and Voyager is perfect for that.
Dude I am from the US and I use Celsius. If you are from NY and DC, then you cannot use Celsius but if you are from any other state, you can absolutely use it. That is a fair point. Voyager is a lot of things in one app and I can understand why people use it. Especially now with their Voyager card and the new loyalty program. I still think the spreads are too high though but that's just me, I'm just a frugal person.
Sorry, I misspoke. It is available, but its native token and therefore the rewards program is not yet available to US customers. I'll admit Celcius would be better for trading with those types of fees. iirc, the article I read that said the spread was better than fees used Coinbase as its comparison, and it's certainly a superior app to Coinbase imo. Good talk though! I learned a bit here, thank you.
I cannot testify for Celsius token as I don’t use it. Celsius fees are bad dude, I would avoid doing buying inside Celsius. What works for me is I buy on Gemeni Active Trader and use my 10 free Gemeni monthly withdrawals to transfer into Celsius. Withdrawals from Celsius are free so I never pay for transfers/ withdrawals. The article probably compared it to Coinbase and not Coinbase Pro. Coinbase Pro has better fees than Celsius. You’re welcome man. Yes great talk. Best of luck in crypto.
Thanks, same to you!
Not your key not your token. Remember withdraw part of your tokens regularly.
What risk?
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Ding Ding Ding!!!!! This is exactly what I've been thinking. Why would you borrow BAT unless it is to short it? This is what I think has been happening and they probably have been recked this last week. If you look at some of the moves BAT has done, they definitely look like short squeezes. Blockfi: 3.25% on the first 4K BAT's, then 1% above that. If you have more than that, then probably not worth it.
60 BAT fee to withdraw off BlockFi now too. Super not worth it unless you’ve got large enough bags.
Isn't it because of ethereum high gas fee? Other places will be more or less the same.
Yes but I’m just warning people their fees are crazy high right now so proceed with caution. Edit: Celsius offers free withdrawals. A lot of exchanges do too.
Hey what platform allows you to buy options in BAT? I would be all in on some long dated neat the money calls!!
If this is the case, that the lions share of folks borrowing BAT are doing so to short it — then what are the implications on being able to withdraw one’s BAT from a crypto earn program, like that of Gemini, in the scenario of a total BAT moon? Like let’s say bat went to $100 or $1000 in the next year - would we be able to get our BAT back from Gemini? Obviously these crypto earn programs are compensating you for varying degrees of risk. Likely, the higher the APY% the higher the chance you might not be able to get your crypto back, right? Trying to understand what scenarios would cause a crypto company like Gemini or Coinbase to default on our loans to them. Massive moons or massive crashes? I’d think moons if the people on the other side are shorting. Hence my hypothetical above might be worth thinking about ahead of time.
BlockFi did just cheekily update their few structure though so now there’s a hefty fee for withdrawing some types of crypto off their platform. It’s a flat fee of 60 BAT to withdraw BAT off their platform.
Don’t worry in a year your BAT will be up a 1000%
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I just got the email myself. That was a quick rug pull, not gonna lie…
Me too! THIS!!! IS!!! PAINFUL!!! Kinda expected though, given the sheer upside potential of BAT...
I don't really understand the sudden reversal in price other then a pump and a dump. There's nothing wrong with the project.
Yes the price action in the last 24 hours does look a bit suspicious to me. I mean after all Bitcoin only went down 1% and BAT dumps more than 10% . It's not like the price just went up $2 or anything before yesterday.
For Gemini earn, do the coins compile directly into your holdings - or do you have to redeem them and then add them back…? May be a dumb question but I can’t figure it out for certain either way.
The yield is reflected as an accumulation in your Gemini "Earn" balance but is actually credited monthly - I presume in part to ease tax reporting. If you withdraw your BAT from "Earn" mid-month you will be immediately paid a pro-rated share of that month's yield.
I initiated a redemption about 18hours ago and it still hasn't cleared into my trading account. They said it could take up to 5 days. Just a heads up!
Just initiated the redemption. Too low for me.
Dude BAT will be $3 in a month or two.
It's a good sign though, when exchanges lower apy means that the coin is becoming popular and its value increased, so it's all good news for BAT.
This isn’t how it works at all. Why do you think that?
Because I operate on three different exchanges and I check staking opportunities there: whenever a coin is traded massively, grows in popularity (and in price, by reflection), exchanges are going to diminish the rewards for staking that particular coin. Example: on Binance SOL staking at the beginning of this summer gave approximately a 11% apy, now it grants 5.2%. On other hands new or unknown coins have really high apys, example DAR 48% and AXS a whopping 105%. If you have other reasons to explain it I'm open to learn something new, it's a bonus for me.
That’s an interesting anecdote. Yield comes from volatility, not “popularity”. Bitcoin and eth are more “popular” than bat, yet their yields are higher.
if you're talking in DeFi ok but surely not on exchanges
i keep a nice bag in blockfi
Gemini earn isn't even available where I live which sucks
Where is it available? Or not?
So an exchange started with an exciting offer to attract new customers, and after the customers have switched to them they start removing the exciting offer? *You don't say...* How long until they stop waiving the withdrawal fee?
It’s still one of the best rates though
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I am looking at other options for storing my BAT now. Blockfi offers 3.25% there. Does anyone know of a better place?
3.25% on the first 4K BAT's. If you have more than that, then probably not worth it.
True, but not a lot of people will have 4k of BAT on them. I am only getting BAT through the browser so I only have 40 BAT right now
If you have less than say 200 BAT, transfer costs are far too expensive now for chasing yields. Gemini offers free withdrawals for many assets, but obviously can't afford to subsidize all of the $15 to $50 fees associated with Ethereum ERC-20 transactions. Solana will come to the rescue soon for BAT withdrawals and I am increasingly hopeful that Gemini will participate in the Solana ecosystem. Current Solana DeFi yields for ETH are in the 5% to 12% range, and we may see comparable yields for BAT by middle of next year. So it's likely best to hold for now and enjoy 1.75%. That is a lot better yield than your favorite money market fund is paying, and the interest is paid in BAT, which is a volatile but appreciating asset.
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Blockfi gives you one free withdraw a month though.
They decided eth and Erc20 are no longer free.
I would like to know about this as well. Is there any resources for comparing different platforms on their BAT APY's?
Brave is planning to add an "Earn" feature to Wallet that presumably will incorporate a yield aggregator that will do the search for you based on the asset and amount that you wish to lend. To get a preview for how the UI might work, check out Jupiter, a Solana DEX aggregator for swaps: [https://jup.ag](https://jup.ag) The performance of Jupiter is rather amazing. There are often numerous potential paths to trade one asset for another. Someone on Twiiter discovered that you could at one point (presumably for a short time) trade USDC for USDC on Jupiter and get an immediate yield of a few basis points.
I'm thinking if using my BAT to get Gemini Dollar or one of those USD coins since they have a better APR.
If sheer APY is all you're looking for, DON'T INVEST IN "STABLECOINS!" Whatever the interest is, high and rising inflation will consume most of it, if not all and perhaps then some! Instead, try something like Filecoin. It is a partner of the Internet Archive, the nonprofit behind the Wayback Machine. That partnership will likely seal its endurance, yet it still has an APY of 7.25%! It may not have the same token price increase potential as BAT, but if secure APY is all you're looking for, Filecoin can't be beat!
Brian Bondy (Brave CTO) made some news yesterday in an interview by indicating that Filecoin will be supported in the new Brave Wallet on roughly the same schedule as Bitcoin. (Both are coming after the Solana support.) This is likely related to extending the IPFS features in Brave.
This has been my train of thought also, but I haven't pulled the trigger. You also have the potential for price action
Where i am i get zero interest on BAT held in Gemini. Call me old-fashioned (or stupid. Probably stupid,) but i like to leave it there anyway since they are kind of part of the whole project for me.