- Oct 28, 2010
Accredited Investor.. hmm.. that's probably the term I was looking for. I don't have plenty of assets to show on paper so I doubt I would qualify for that. It was sounding like a nice option, but the regulation takes me out of the game. I always wanted to formally take the time to understand how shorts/longs and all the ins and outs of that type of investing worked. I'm assuming your net worth has to be pretty nice in order to qualify.Yes, their retail side allowed for retail customers to borrow as little as 1000. Company has physical offices in US and has(had) the BEST customer support. I even have a personal account manager who is actually local to me. He was always a phone call away (still is) if I needed anything.
BlockFi is another platform that does the same thing. US based. I just always felt that CEL was much better at the customer service end.
Celsius and BlockFi both switched their interest accounts to requiring US holders to be 'accredited investor' approved. Trying to be proactive and comply with US oversight. Basically show a net worth in excess of certain amount or annual income. It is common across any investment platform in the US for 'higher risk' investments. They restrict their access to people unless they can show their 'status'.
It is not a leveraged trading platform. You can buy or sell through them. But their main business was / is crypto lending and interest accounts. Nothing nefarious about them or VPN requirement. Full KYC AML and bank compliant.
On coinbase (i know i know), I'm lvl 3 for their levels:
Bank purchases / deposits $35,000/day
Card purchases $7,500/week
PayPal Purchases $1,000/day
Google Pay Purchases $7,500/week
PayPal withdrawals $25,000/day
Wire transfers No limit
And was offered their beta CB1 which allows trading w/o fees for a subscription per month. There are still some fees built in by changing the trading price or some shit, but it's still cheaper if you trade more frequently. Don't you have to be an "accredited investor" to get a CB Pro account too?
I also have an account on Gate.io which has a TON of different things you do if you don't live in the US. All hosted w/ in the same platform so it's a freakin' tease to see, but the minute you click a few buttons it goes back to the dashboard home screen. That exchange is listed in Asia or south pacific somewhere I think, but b/c of KYC adheres to shit that keeps me from participating.