My patience is wearing thin with Celsius. I've had a

Question

My patience is wearing thin with Celsius. I've had a

ticket open more than a month to resolve issues with two promo codes. I met all requirements and have not withdrawn any coins or performed any action that would have invalidated the promo code. One of them was finally marked as 'Locked' a few days ago but the other is now marked as cancelled! So frustrating... there was finally a response on the ticket two weeks ago saying I met all requirements and it was going to get escalated. No activity on the ticket since then. Are other people having similar experiences? I understand they are going through growing pains but not resolving tickets within a month is pretty sad. Sorry in advance for the venting.

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29.09.2021

25 ответов

12 просмотров

Capt Jack

Same experience on my part. I gave up on the stable10 and stable50, it's not worth it to stress up for 60$.

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29.09.2021

Chris Автор вопроса

For me, it is more than just the promo code issues. A few months ago, around $3,000 worth of XLM was deposited to my account (wasn't my money). I had to create a ticket to let them know they credited coins/money to my account that did not belong to me. Between that issue and the promo code stuff, I've lost a lot of trust with regard to the underlying quality and reliability of their systems and how they well my money is being protected.

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30.09.2021

Chris Автор вопроса

Also, if for whatever reason Celsius starts having a lot of issues with regulators and there is a "bank run" on Celsius, I have an uneasy feeling I wouldn't get all my money/coins back because of how widely dispersed our funds are with various institutions involved with lending/generation of yield (i.e. not confident that Celsius could recover all our funds in a scenario like that).

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30.09.2021

CGYAB89

that sounds more like someone used the wrong memoID than anything else

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30.09.2021

Lauris V

This is not a case, listen to yesterdays AMA, Zach addressed this.

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30.09.2021

Chris Автор вопроса

Whatever the caused the issue, I hope the original depositor got their money back.

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30.09.2021

Chris Автор вопроса

Are you referring to the Twitter AMA? Those aren't recorded are they?

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30.09.2021

Lauris V

The only way with Celsius for someone not to get their coins in app is using wrong chain or something like that, even then they try to help in these case. No need to address it like that

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30.09.2021

Lauris V

Yes they are recorded you will find them on YT

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30.09.2021

Chris Автор вопроса

Just checked, none of Twitter AMA's are on the official Celsius YT channel. Only the weekly YT AMAs are there.

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30.09.2021

CGYAB89

They likely would have sent a request and had to show they were the originator of the tx.

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30.09.2021

Lauris V

it's not on the official channel, just type on search Celsius community AMA

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30.09.2021

CGYAB89

They are recorded by a community member https://youtu.be/qcmhlWSPkTs

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30.09.2021

Chris Автор вопроса

Thanks, I'll have to check out yesterday's AMA in regards to my "bank run" concern. Knowing the Celsius business model I'm not sure Zak's answer will be satisfying (the answer Lauris alluded to), but I guess I'll hold my judgement until I've heard the answer. 😋

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30.09.2021

CGYAB89

Withdrawals may be delayed in this type of scenario, but Celsius is able to return all funds

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30.09.2021

Lauris V

What do you mean with knowing Celsius business model?

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30.09.2021

Chris Автор вопроса

By that, I mean the fact that Celsius is not the custodians of most of our money. We deposit, they lend the money to other institutions to generate yield, and Celsius (i.e Fire Blocks) is only the custodian of a small percentage of total funds.

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30.09.2021

Lauris V

But you should know that all they loans are collateralised so even in a case of default they can go and buy coins with the collateral to return the to you if needed

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30.09.2021

Chris Автор вопроса

Yes, I am very well aware of that. And guess what, the larger the AUM at Celsius, the more difficult it is to buy back all the funds without moving market price and not being able to get back the original amount of the coins that were collateralized. If you've been led to believe that depositing funds into Celsius is risk-free you have been sorely misled. With that said, the risk isn't as high as with other institutions as Celsius seems to manage risk ok. But there certainly risk unlike what you are stating.

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30.09.2021

Lauris V

I was not stating it's risk free. But the risk is small enough for me.

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30.09.2021

Lauris V

Go ahead and listen to AMA, this exact topic was widely addressed. If you don't believe Alex then Celsius is not a right place for you indeed

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30.09.2021

Chris Автор вопроса

Like you, I'm generally ok with the risks. Doesn't mean it doesn't make me a little uneasy now and again. 😋 I just with they were a little more upfront about potential risks on their weekly YouTube AMAs I've been listening to for well over a year.

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30.09.2021

Lauris V

I hope you will find your peace listening to this one, because like I mentioned this topic was widely addressed

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30.09.2021

Francois Schaller

Totally agree, the bonuses are perhaps something like the the cherry on... The most important are the rewards coming every Monday like a clockwork. I add some problems with bonuses in the past, but they were always credited. Is it very problematic if the bonus is credited later ? Is it worth to submerge the support team with that? Please let them time to resolve more important topics.

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30.09.2021

Marcin Ruman · Accepted Answer

Marcin Ruman

My support ticket got a response quick. Also the loan was done in 2 days.

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29.09.2021

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