Reply To: What Crypto Investors Need to Know About DeFi
You can also earn interest on your cryptocurrency through DeFi. We mentioned borrowing and lending platforms above, which often pay much higher rates than what you’ll find with a traditional savings account. Another route is to use these platforms to stake your coins — which involves tying them up to contribute to the overall security and maintenance of that cryptocurrency network.
As with any form of cryptocurrency investment, if you decide to dive into DeFi, only invest money you can afford to lose. And make sure you research the industry carefully to ensure you fully understand the associated risks. It’s an exciting new world, but it’s also one that doesn’t have many safety rails in place.
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