That’s about all I have time for today, however I do want to share a few closing thoughts and I still need to tell you how I personally use crypto lending platforms. how very rude of me. l here’s the deal – with centralized lending platforms you need to be aware that they can get hacked and that’s why I think it’s never a good idea to put all your eggs in one basket. hence I like to spread my risk over several different lending platforms that way if one is compromised then I won’t lose all that crypto I was earning interest.
On another thing I would like to caution you about is throwing your entire crypto portfolio into crypto lending. if you do that all on centralized platforms then you’re not actually holding any of your private keys. Now personally that scares the bejesus out of me and is why I only allocate a small portion of my portfolio to crypto lending.
With all that being said I think that crypto lending platforms are a great way for hodlers to put their crypto to work and increase their stack while waiting for the proverbial moon.
it’s certainly a tool that you should be aware of and you can certainly use these platforms to your advantage and one more word of warning if you see any services that are offering sky-high rates of interest rates that are miles ahead of those that I’ve covered here then you should run for the hills it is more than likely that these could be a ponzi scheme that will eventually leave you holding the bag exercising a healthy dose of skepticism.
Here goes a long way now it’s time to hear your thoughts. are there any crypto lending platforms I’ve missed and have you got any questions for me while you’re busy hitting up that comment section.
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