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/biz/ - Business & Finance

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18390200 No.18390200 [Reply] [Original]

S&p boomer here. What’s the catch with this Crypto interest shit? Is it risky (apart from the value of the currency itself)?

>> No.18390398
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18390398

Gambling has been around a long time.

>> No.18390411

you lend money, the risk is the exchange goes broke, they get some kinda failure on their futures platform that results in a huge loss and you could get taxed funds, however being cz and him knowing that’d end his business I doubt it. It’s quite safe and straight forward, they use your funds to lend For margin traders which they make higher interest on then they give out

>> No.18390483

>>18390411
you'll have to to fully trust the exchange with your money, knowing that in case something happens you won't be able to withdraw and will likely lose it all. They're not insured and you got no legal protection should the worst happen.
So I wouldn't consider it >quite safe
Definitely not somewhere I'd put all my savings into.