Am I missing something? Seems to good to be true

I've been a hodler for awhile, and just have it sitting on a hardware wallet.

If I were to deposit 2 bitcoin (just using a random number for ease of maths) into the Nexo.io platform, and do NOTHING ELSE. I get paid 8% daily ($9600 over a year?) in nexo, or 6% back into BTC? As well as anything my BTC earns just by the nature of it going to the moon?

And if I want to take out a loan, for say a vacation for the wife and I, I can borrow with my BTC as collateral, and somehow miss a taxable event?

Am I missing something? Seems too good to be true. What large hole am I not getting 0.o

Also, thank you for the assistance here, I'm very appreciative of you community members helping newbs out :)