Stats: 3,189,277 members, 7,936,851 topics. Date: Sunday, 01 September 2024 at 03:56 AM |
Nairaland Forum / Nairaland / General / How To Avoid Fake Defi Protocols Offering Outrageous APY. (330 Views)
My Landlord Outrageous Rent Increase / Investments/ Earn A Whooping 10% APY On Your Investments. / How To Detect (and Avoid) Fake Android Apps In The Play Store (2) (3) (4)
(1) (Reply)
How To Avoid Fake Defi Protocols Offering Outrageous APY. by Coinfisherfx: 7:55pm On Apr 26, 2022 |
Cryptocurrency is now one of the major ways of making legitimate money. So many cryptocurrency platforms are being created every day and it’s important for you as a beginner to inculcate the habits of Researching on any of these platforms before getting involved with any crypto activities. CoinfisherFX wants to share with you why it is important to avoid any unpopular Defi Protocols platform that is offering you high APY on your investment. most of these platforms get your attention with this high APY and if you are not careful enough you may ending investing in a platform that will scam you. I want to point out two key factors here (1) what you need to know about APY & what is actually a Decentralized Finance. APY: simply Means Annual percentage yield (APY) acts as a cryptocurrency savings account similar to an annual percentage rate (APR) account. You can deposit your USDT (or another crypto asset) and receive a fixed rate of return over a specific period of time. [i]Read more on https://coinfisherfx.com/how-to-avoid-fake-defi-protocols-offering-outrageous-apy-basics-things-you-should-know/
|
Re: How To Avoid Fake Defi Protocols Offering Outrageous APY. by Chukatabra: 10:40pm On Sep 07, 2023 |
The APY, short for annual percentage yield, is a standardized way to estimate the actual rate of return on crypto investments for just one year. Basically to avoid the fakes, you need to run away from deals that sounds too good to be true. That’s my watch word. Learn more about APY in crypto here - https://blog.bitmama.io/what-is-apy-crypto-meaning/ |
(1) (Reply)
What Number Can You See Here? / What Does It Mean To Dream A Dream In A Dream / Bye-bye To The Love Of My Life,’ Burna Boy Addresses Stefflon Don’s Breakup.....
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 6 |