Would you buy a car without seeing it?

Would you buy a car without seeing it?

By Cryptofab | Cointune | 14 Feb 2021


If you just want to make money quickly, you might forget to check what your are buying.

If you read that the token XRZ is going to pump, your may think: that's great, everyone will buy it, and you buy it for the price of a small car...

Do you do that only because it is crypto and you think it is not real, like a video game?

Do not forget you have the value of a car in your hands... Would you buy a car without checking that it works well? If nobody wants to buy if from you at a higher price, what will you do with it?

Same comment for the DeFi AMM protocols, for instance on Binance Smart Chain: if you see an AMM called tacos.finance which is just a copy of Pancakeswap saying they will give you the same APY rewards as Bernard Madoff, will you give them the coins that you have just bought? It would be like giving your new car to a garage that you have not even seen without getting any guarantee that they will give you back the car in the same state, right?

My point is: there are many Madoffs around us, you'd better check the real value of the coins you buy and the reliability of the DeFi AMM protocols on which you put them. Otherwise, it might be too late when you realize that you met a crypto-Madoff...

 

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Cryptofab
Cryptofab

I do not want to change the world, but I can contribute to it.


Cointune
Cointune

Crypto, DeFi and passive income.

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