This post is really not to "bash" lending platforms, but rather a warning to potential investors. Lending platforms are really casinos. They will always be around just like casinos. Both are not really good for you. You can lose all your money and really destroy your life and financial status. They are so tantalizing in that they give hope for big gains and riches. They attract the novice and the naive. The bait of "easy money." No waiting for profits, instead they both push instant gratification of profits "now." It's so easy why people go into these platforms. No matter how you warn them of the "high risk" and losing all your money, they still want to give it run and see if they can hit it big. Casinos will always be here because of these reasons. Lending platforms are the casinos in the cryptocurrency space. Beware people!
Lending platforms use promoters and affiliate programs. These promoters are part of the problem. They are so good at "teasing " and "enticing" the viewers. Great personalities and they come off like they are just like you and that they care for you. The harsh reality is that most of these promoters don't care about you. Their whole mission is to get subscribers and referrals for which they look for their profits. They really take no risk in using these lending platforms. They make more money in referrals and subscribers versus what they make in their loans. If something happens to the lending platform, they really are not affected. Their profits are way above what loss they incurred. After that, they just go to the next platform they can endorse.
Of course, they all have a disclaimer. We've heard it, " I'm not a financial adviser, nor am I giving financial advise. Do your due diligence. Invest only funds you can afford to lose." So in essence, they covered themselves and you can't really put the blame on them. After all, they told you. Your suppose to be an adult who can make good decisions.
The promoters are like that "hot girl/guy" who are just so exciting and attractive. They just lure you in and you keep coming back to be around them. You drink the "kool-aid." Such a "suave/ slick" way of attracting people and then acting like they don't really need you or want your business. Just like that "hot girl/guy" they tease and run. You can't help it and you follow. Next thing you know, you follow and invest. Like a "cult' following. Then when the lending platform ends and they will end, you will end up holding the bag.
Then you look for the promoter who you may never hear from again. They are on to their new project to promote. Or you may get a video wherein they act incredulous that you invested all that money. "How could you do that?" They then refer you to their "ace card." They summarize for you again the "DISCLAIMER!"
As Charlie Brown would say, "Good Grief!" Be careful people. Enter these casinos/lending platforms at your own risk. You've been warned. Don't blame anybody if you lose your money!
I totally agree with you here. I've put around 1.7Btc on lending platforms a few years ago when btc was worth around 800$.
All in all I think I was lucky I left with around 1.8Btc so I even earned a bit. But 5% gain in 1.5 year isn't so great in crypto.
And I has so much false offer and false lending... just dont go there, the risk is too high and the reward is too low.
you made some good points, it is not easy to resist these types of websites, and you need to do your research on any affiliate program