Smart or stupid? My friend is putting his future down payment into USDC and lending on crypto.com for 10% APY for 1 year

1

Crypto.com

The inherent risk in doing this is that your friend is forming a firm tie between his life savings, and a single company. Not a government, not a multi-billion dollar conglomerate, but a single mid-size company. He should be asking himself, what happens in the (unlikely) even that crypto.com goes under, goes bankrupt, gets hacked, rugpulls, locks his account, your friend gets hacked, or has his identity stolen, or any other number of unfortunate, albeit unlikely, scenarios that could result in him losing his connection to his money?

#Cryptocurrency Exchange #Crypto #Cryptocurrencies 13655 social mentions

2

Maker (MKR)

#Business & Commerce #Productivity #Sales 38 social mentions