Decentralized finance (DeFi )took the world of crypto by storm in 2020. And though the buzz had cooled off somewhat by the end of in 2015, we are still seeing signs of its growing popularity now, well into 2021.
look out for. The open nature of DeFi has resulted in a multitude of pump-and-dump plans, phony giveaways, exit scams, etc. According to blockchain analytics company CipherTrace, exit scams, in specific, made up 99 %of crypto scams schemes in the 2nd half of 2020, enabling wrongdoers toget away with about$ 1.9 billion in taken funds.But even with all that stated, individuals keep thinking in DeFi and the development continues. We have actually observed that high-value customers, corporates and institutionals are getting especially thinking about this sector, as they wish to invest significant amounts. The presence of such demand is incorporated DeFi support, offering customers access to more monetary tools of choice.To sum up, it can only be stated that DeFi might
provide financiers an extremely satisfying experience, but this can just occur if they approach decision-making with prudence.Konstantin Anissimov is CEO of CEX.IO Published at Sat, 10 Apr 2021 07:39:09 +0000