"not your keys not your crypto"
This is my big beef with it all. I have trouble trusting any exchange or org in the crypto world, too risky and the past shows us just that.
You are viewing a single comment's thread from:
"not your keys not your crypto"
This is my big beef with it all. I have trouble trusting any exchange or org in the crypto world, too risky and the past shows us just that.
Everything has risk.
The question is whether the return justifies the risk.
Money in a bank account can be confiscated by the government (eg Cyprus) or frozen because of an unpaid parking fine and earns zero interest.
Crypto in your "own keys" wallet can have its keys lost or stolen and earns zero interest.
Crypto staked as a Liquidity Provider on a decentralised exchange can be hacked (eg wLEO) but earns a decent return.
Crypto on a centralised exchange can be hacked or the exchange can go bankrupt, but there may be insurance.
In Crypto.com's case there is insurance and you earn a good interest rate. So I think it worth the risk.
True, .. I use the staking coins feature on my Ledger, so I have control of my keys + I get a daily return. There's more coins being added that give you a return, so far I have 4 streams of passive income using this method.