CZBitcoin review: 9.75% interest on your cryptocurreny savings using AI
So many have asked what is CZBitcoin, so here it goes.
When your website combines passive income and cryptocurrencies, you feel a little uneasy. “What is this nonsense? Another way to scam me out of my money?”
What is CZBitcoin
In this world where cryptocurrencies start to be a legitimate thing, a need for a service such as CZ has arisen. Say you are long on cryptocurrencies. Really long. Let’s say you have 10,000 € in BTC. Are you just holding on for dear life? You’d like to get some stable interest, but don’t want to sell nor trade your BTC? This is where CZ comes into play.
If you own cryptocurrencies, you can store your crypto assets on CZBitcoin and they use their AI to increase liquidity and volume in the trading and mining pool. You decide if you want CZ to trade aggressively or just gain some % overtime.
For us investors, we get to be the ones financing these trades, with the cryptocurrencies being the volume.
Numbers that make sense
CZBitcoin’s interest rate is currently 9.75% a year for standard accounts and 3.9% to 5.15% monthly if you let their AI do some heavy lifting and enable your holdings for investments into DEFI, mining and other activities that seem to go really well taking into consideration they are in business for the past 2 years paying interest every single day. While 9.75% isn’t massive, it’s better than a bank account.
Having years of day trading experience makes these numbers actually credible as there are ways to get those earnings if you dedicate days and weeks of reading charts.
So how do you start with CZBitcoin
The following three simple steps are required to start earning interest on CZ:
Step 1: Create an account on CZBitcoin
Head over to CZBitcoin and create an account.
Step 2: Confirm your email and generate a unique wallet
There are two steps to start (they have a video tutorial available if you get lost). First you complete your email verification that takes 1 min and then you go to “Wallet” and generate your cryptocurrency address that will be binded to your account.
Step 3: Deposit funds to your account
Finally, once you’re verified, you can deposit funds to your CZBitcoin’s account by starting the process from the main dashboard clicking “Deposit”.
Top up minimum is for now 1 € and interestingly the maximum is 100,000 € per transfer. There are no additional fees that CZBitcoin charges.
My first thoughts on CZ were that I am sure they have some major flaw in their business model, and I’m going to find it.
Cryptocurrency value drops
CZ presents you a choice, you either want more cryptocurrency, or you want to make more USDT value that you cash-out. One way or another CZ never loses you money, it’s just up to you what “money” means.
Do you want more bitcoin? Deposit into the bitcoin annual savings account and earn bitcoin. Do you want USDT? Then let AI invest which automatically makes the profits USDT, to enable different cryptocurrency purchases and trades.
Can CZBitcoin get hacked?
The crypto world has come a long way since MtGox got taken down in 2014. Did you know that MtGox.com was named after “Magic: The Gathering Online eXchange”? The website was originally set up for trading Magic cards like stocks. The domain was later used for other purpose, before finally becoming the Bitcoin exchange people remember it from. Against this background, are you surprised about 800,000 BTC was stolen, likely straight out of the hot MtGox wallet?
CZBitcoin, named after Binance owner CZ, as their first platform they performed a successfull AI trade on, uses BitGo as the storage for crypto currencies, which are held in cold wallets. The BitGo platform is SOC 2 Type 2 certified, which means really secure. So, if CZ gets hacked, they still shouldn’t gain access to the crypto assets as that part is handled by BitGo. Also, there’s a $100 million insurance policy on CZBitcoin’s digital assets held at BitGo, granted by Lloyd’s.
But, CZBitcoin is probably sitting on a shit ton of crypto assets, which makes it a very interesting target for all kinds of hacks. Could it be hacked? I suppose. Will it be? I doubt it. I’m sure there are easier targets, especially if they trade using AI connected to API’s which makes it like hacking Binance.
CZBitcoin is almost criminally profitable and reached profitability in less than a year from launching. The interest towards the service is high and unless something catastrophic happens, it will stay.
So what could that catastrophic event be? A security breach could be one, the crypto bubble could burst or a competitor could steal the market.
I didn’t know it when I started writing this review, but I actually, seriously like CZBitcoin. It’s not shady at all, on the contrary. Everything about it looks really serious. The only thing I feel uncomfortable with it is that I wouldn’t be completely surprised if one day people realized cryptocurrencies were just a dumb idea and no-one actually wanted to use them. Personally, I like the idea, but there are just so many issues with cryptos that it really can still go any way.
But put that aside, what do I think of 9.75% asset-backed, insured interest on crypto deposits? I think that’s pretty damn sweet. For all the work the team has put into security and the business model, they get an A for effort. All things considered, I’ll give them a cautious four stars ⭐⭐⭐⭐. I wouldn’t mind storing some bitcoin on CZbitcoin these days.
An impressive service for being in the crypto field.