But in some countries, banks provide far more interest rates. Like third countries of world, these rates are more than 10%.
Really? How can that even be possible these days unless those 3rd world countries have astronomical inflation? Interest rates around the world are as low as they've been in years.
My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?
Truth be told, I had no idea any exchanges were offering these services and I will have to look into it. Would I trust an exchange like Binance not to scam me? I sure would. But I've never heard of BlockFi, so that would be a big 'no'. It is risky letting an exchange use your money like that, but those interest rates do look very attractive.