The stablecoin are something really worrying, many people know what really happened with Luna (Terra) and simply this is something that should worry you if you are thinking about saving in the stablecoin, it is true that when we put our cryptocurrencies in staking we protect us from USD inflation, for example, when we put $HBD in savings we can have an annual return of 20% and that's great, it is a way to protect us from inflation and with it we can get a profit, but from my point of view leaving your cryptocurrencies in staking is something risky for the simple reason that BlockFi has gone bankrupt, not only this, I have also seen some news about celsius network where they write that users can not withdraw their cryptocurrencies because they have simply blocked withdrawals and deposits.
So, I think these companies are very centralized and they can do whatever they want with your cryptocurrencies, instead, Hive offers much better investment opportunities for your stablecoin, I should also mention that this Blockchain is one of the most decentralized in the world and that's really great, I would also like to mention that CUB Finance is a really nice Defi investment to protect us from inflation, we also have Polycub, I prefer to use these platforms because they are simply decentralized and not like these companies that can do whatever they want with your cryptocurrencies and always remember that they are not your keys, they are not your crypto either.
What are the risks of investing in stablecoin?
I have read some news that reveals the harsh reality about Centralized Exchanges (CEX) and all the centralized platforms where you can store your stablecoin and get dividends, but the risk is that they are simply centralized and they do whatever they want with your cryptocurrencies and they have the right to do it whenever they want and this is what I don't like about these centralized platforms, I don't like that they block the funds to the users, really this should be punishable by law, but sometimes the user trusts because the company has many funds for marketing or simply generate investor confidence because of the sales strategies of services or a lot of things that only big businessmen know to attract customers and that is why I do not want to deposit my money in a Centralized Exchange (CEX) because I know very well what has happened with FTX Exchange and other things that have generated my distrust of this.
By this I mean that decentralization is better if there is a high volume of users and financial operations on the platform, I mean that simply the more users use, for example, leofinance.io, the safer the platform and the investments, on the contrary, the fewer users use a dapp the riskier everything becomes and that is why I want to recommend $HBD and the entire Hive ecosystem to make your investments effectively.
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Posted Using LeoFinance Beta
excellent reasoning. I too believe that decentralization is better if there are many users who use the blockchain
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