$50,000 Profit With Ledn B2X Update

Summary

In this 'Crypto Dave' video, the host shares his experience using the B2X feature on BlockFi to leverage Bitcoin investments. He demonstrates how transferring Bitcoin to a B2X account allows BlockFi to match the transfer with a USD loan, which can be repaid with less Bitcoin if the value increases. The host details his profit of nearly 50,000 USD from this strategy, explains the repayment process, and emphasizes the risks involved, such as potential margin calls if Bitcoin's value drops significantly. The video also mentions BlockFi's competitive savings rates and provides a link for interested viewers.

Takeaways

• 😀 Crypto Dave discusses a 11b2x update in his video, showing a profit of 50,000 from using the b2x feature on the platform.
• 🔗 He provides a link in the description to a previous video explaining how to set up the b2x feature, including depositing and creating loans.
• 💡 The b2x feature allows users to transfer Bitcoin into an account, which then matches the transfer with a USD loan to buy the same amount of Bitcoin.
• 📈 The idea is to profit if the price of Bitcoin increases, as the loan amount is fixed in USD, requiring less Bitcoin to repay if the price goes up.
• 💰 Crypto Dave has made several b2x transactions, with dates and amounts detailed, showing the initial investment and the current profit.
• 📊 The loan-to-value ratio starts at 52% with a 2% admin fee, and decreases as the price of Bitcoin increases.
• 📝 The loan details include the initial loan amount, admin fee, and a 1.92% daily interest rate, equivalent to a 12% annual interest rate.
• 🚀 Users can repay the loan at any time, and doing so when the price of Bitcoin has increased can result in significant profit.
• 💻 Crypto Dave demonstrates the repayment process, showing how easy it is to close the loan and receive the remaining balance.
• ⚠️ There are risks involved with b2x, such as the potential for a margin call if the price of Bitcoin plummets after setting up the loan.
• 🌐 The video also mentions Lending.io's savings accounts, which offer competitive rates without the need to buy tokens or meet limits.

Q & A

What is the main topic of the video?

The main topic of the video is an update on using the B2X feature to double Bitcoin holdings and the profit made from it.

What does B2X stand for in the context of the video?

B2X in the video refers to a feature that allows users to double their Bitcoin holdings through a loan system.

How does the B2X feature work according to the video?

The B2X feature works by matching a user's transferred Bitcoin amount with a USD loan to buy the same amount of Bitcoin, which the user then has to pay back.

What is the benefit of using the B2X feature when the price of Bitcoin increases?

The benefit is that it takes less Bitcoin to pay back the fixed USD loan amount, potentially resulting in a profit if the price of Bitcoin has increased.

What is the admin fee for using the B2X feature?

The admin fee for using the B2X feature is 2%.

What is the daily interest rate for the B2X loan?

The daily interest rate for the B2X loan is 1.92%, which equates to an annual interest rate of 12%.

How can the B2X loan be repaid?

The B2X loan can be repaid using USDC, a bank wire transfer, or by repaying with Bitcoin.

What is the risk if the price of Bitcoin plummets after setting up a B2X loan?

The risk is that the user could get margin called if the loan-to-value ratio goes beyond a certain threshold, leading to potential liquidation of the Bitcoin collateral.

What is the current profit made by the video creator from using the B2X feature?

The video creator has made a profit of approximately 50,000 dollars from using the B2X feature.

What are the market-leading rates offered by the platform mentioned in the video for BTC and USDC savings accounts?

The platform offers a market-leading rate of 6.25% for BTC and 12.25% for USDC savings accounts.

How can viewers sign up for the platform mentioned in the video?

Viewers can sign up for the platform through the affiliate link provided in the video description.