Is Defi Lending Safe?

🛡DeFi lending protocols are safe and offer many levels of security. Your money is lent out through smart contracts. These contracts are publicly auditable and verifiably secure, and whenever you lend out crypto, your funds are protected by the high collateral requirements.

📈Of course, like in other investments, the risk is associated with it. Crypto lending is largely unregulated. In case a platform-breaking bug or a hacker shuts down a platform through which you lend crypto, no regulator or agency can or will help you get back your funds. And in extreme market conditions, some firms will even lock your funds into their platforms to prevent them from going down.

💡With DeFi lending, you have various platforms to pick from, each with its advantages and disadvantages, so you better always research, know your goals and assess your risk tolerance.

🚀Learn more about DeFi lending on Coinswap Space, a DeFi platform that offers a whole ecosystem of DeFi products and services.
🌐https://bit.ly/3usGj92

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