I always tell people crypto platforms that offers high yield on holding without any work put into it are more like scams. Though when regulation sets fully into into crypto such platforms will be eradicated. Thanks for sharing, it hurt loosing funds where the managers on the other hand has little or no knowledge about finance management.
Indeed. The technology is not failing, it's the people utilizing the technology and the mistakes they made. I think people should learn to recognize CeFi from DeFi. They might look the same but their structures are different.
Lending platforms like Celsius, Voyager, and BlockFi act like banks. People get interest way more than they get from banks. This present situation shows how risky it was. Interest does not worth it when there is a risk of losing your crypto.
We also see DeFi hacks. I think there will be more development and innovation in DeFi. And people will keep using DeFi more than CeFi.
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I always tell people crypto platforms that offers high yield on holding without any work put into it are more like scams. Though when regulation sets fully into into crypto such platforms will be eradicated. Thanks for sharing, it hurt loosing funds where the managers on the other hand has little or no knowledge about finance management.
Posted Using LeoFinance Beta
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Indeed. The technology is not failing, it's the people utilizing the technology and the mistakes they made. I think people should learn to recognize CeFi from DeFi. They might look the same but their structures are different.
Lending platforms like Celsius, Voyager, and BlockFi act like banks. People get interest way more than they get from banks. This present situation shows how risky it was. Interest does not worth it when there is a risk of losing your crypto.
We also see DeFi hacks. I think there will be more development and innovation in DeFi. And people will keep using DeFi more than CeFi.
Posted Using LeoFinance Beta