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Most brokers- such as coinbase- perform their transactions using off chain methods. All the bitcoin in coinbase is held and owned directly by coinbase, and what
by tedivm 4y ago
Most brokers- such as coinbase- perform their transactions using off chain methods. All the bitcoin in coinbase is held and owned directly by coinbase, and what users of coinbase actually have is a database table somewhere saying how much of coinbase's coins are marked as being owned by the user.
Celsius is similar, but they also offer a loan system on top of it. So the coins you give to celsius are not only no longer owned by you, but they're also not even present in a Celsuis wallet.
- cube00 4y agoAt least Coinbase has a database table, Celsius had a spreadsheet. [1] [1] https://www.cnbc.com/2022/09/23/celsius-has-a-hail-mary-bankruptcy-plan-turn-its-debt-into-a-new-cryptocurrency-.html https://www.cnbc.com/2022/09/23/celsius-has-a-hail-mary-bank...