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CryptoPriest | etheologist.eth 4 minutes reading from Bitcoin

Review: Cashback on the Upcoming Bitcoin App ‘Cashback’

Everyone is talking about the cashback of the upcoming @blockbankapp DebitCards only, but my favorite feature is the APY boost on staked BTC ETH BNB MATIC AVAX USDC USDT, which is offered in different tiers - nobody can keep up - a comparison with some competitors🧵👇

1. From 12/9 the new Tier system will be used. In the VIP tier it offers 10% APY on BTC ETH BNB AVAX MATIC USDC USDT an additional 10% APY of their staked value in BBANK on top. The tokens have to be locked for 6m, the rewards are paid out weekly - plus perks & cashback

2. If you buy 500k BBANK before 12/9 & stake them on the app, you don't need to have the later required 50k in BBANK to be in the VIP Tier - as an early investor, you can use the VIP benefits for 12 m, even if you do not yet meet the new requirements.

New & Improved Tier System on blockbank

3. Depending on how you do the math, you have to stake 8500 for 500k BBANK until 12/9 or later 50000 in BBANK. That seems like a lot, but a look at the competition clears things up ...

4. Many have concerns that the team would use the deposit for leverage, as was the case with Celsius, 3A ... for example. Blockbank uses old & safe partners that do not use any leverage. Because BBANK passes on most of the rewards to customers, such interest is possible.

5. So far @coin_loan has been my favorite crypto bank where I got high interest rates of 5.2% APY! If I stake 2500 CLT, I get max 7.2% APY on BTC ETH ... (on stables up to 12.5%). Currently that's only 40k in CLT - that will change significantly after the bear market ...

6. The advantage of Coinloan: I have access to my tokens within 24 h & don't have to lock them. There is a wide range of different assets that can be staked & you can easily transfer fiat to the platform via SEPA.

7. The disadvantage compared to @blockbankapp : Effective 2.8% / 12.8% APY (with BBANK on top) less interest (beside stables)! In addition: There is no interest on the staked CLT itself, while Blockbank offers 10% APY on BBANK which you need for your tier!

8. in 24h I will continue that 🧵by comparing with Nexo, Cro & Co - stay tuned ✌️

This post is based on this twitter thread.


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