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> No. The risk profiles on these products match that of Robhinhood, Wealthfront, or a Chase checking account (Genesis' custodial insurance policy beats the FDIC
by graeme 5y ago
> No. The risk profiles on these products match that of Robhinhood, Wealthfront, or a Chase checking account (Genesis' custodial insurance policy beats the FDIC's $200k ceiling). Biggest issue is that you don't own your private keys but that's not unique here.
Nexo, Celsius etc own your crypto. Like the terms say you sold it to them. Pretty sure a broker does not own your portfolio.
- MrStonedOne 5y ago>Pretty sure a broker does not own your portfolio. They do. The shares in your account are registered in the brokers name.
- graeme 5y agoThey don’t own it the way Celsius owns your crypto. Celsius can do anything with the crypto it has. It is theirs. Stockbrokers have rules, segregated accounts, and insurance. There is also a direct registration option through the DRP. https://www.investopedia.com/articles/investing/050515/what-happens-when-stock-broker-goes-bust.asp https://www.investopedia.com/articles/investing/050515/what-...