9 practical tips for investing in Defy!

[maximumcoin]

I think this time is still not a right time to invest on Defi projects for long term yet, just should invest for short time because in my opinion, there is no certainty or clarity on this time, it looks like ICO projects before. So, let's wait and see how the more certainty signal.

[retalids]

useful tips thank you ) personally i try to invest in credible dex projects i believe with nive financial model they can be successful

oh so u might be interesting in new stablecoin dex - xsigma, just announced and looks credible - they are backed by a public company

can u share any link or smth about them to learn more?

https://xsigma-lab.medium.com/meet-the-brains-behind-xsigma-defi-d2e89928f3f7 I read here about them

[tuchenvi]

thank you, nice tips. as for me i prefer to invest in credible dex projects coz i strongly believe they will succeed in nearest future and replace centralized exchanges soon

[Dragonfund]

Dropping of price sharply is never new thing to us in this space, it happens most of the time when team or investor remove their Liquidity leaving others without liquidity.
Most of the time, these DeFi are not well audited as they claimed. It has made many loose their money especially ones that are always been greedy. The recent attack on Cover protocol comes to my mind, it dump almost 99% with an excess coin in supply.
There are other that has happened in the past such as kimchi, yam, sushi was deliberately dumped by the team but it later survived due to some influence and interest on the platform.
Always proceed with caution on this DeFi, cool money can be made here and at the same time can be lost, if not all

[Drahzar]

thank you, nice tips. as for me i prefer to invest in credible dex projects coz i strongly believe they will succeed in nearest future and replace centralized exchanges soon

also believe this) i'm researching a lot of interesting dex projects - recently  researched a new stablecoin dex with nice returns - xsigma, looks credible

[tuchenvi]

thank you, nice tips. as for me i prefer to invest in credible dex projects coz i strongly believe they will succeed in nearest future and replace centralized exchanges soon

also believe this) i'm researching a lot of interesting dex projects - recently  researched a new stablecoin dex with nice returns - xsigma, looks credible

yes, cool guys, just read a news that one of the development leader from Ripple joined the team. ans they are backed by a public company

[kram31]

I don't have any idea about investing in Defi, except before this year I heard YFI if I am not mistaken it surpassed the price of bitcoin
then many of the community invested unto it then in the end they cried because the price of it was totally down from 33k$ almost if I am not mistaken and now Bitcoin was in period of rally to spike its price value in the market. SO, thanks for this very nice tips you gave it here dude.

[irixo10]

DeFi made a lot of hype and a lot of them sprung up within a very short time, however today, can what was said about DeFi months ago ( that is about how profitable and revolutionary it is) be said today? I don't think so, or rather a very small percentage of them are actually with a good prospects, as for others, it is either they are hacked, the team exited scam or they are dead. Which then brings us to the Importance of researching all these projects to be sure they have the users at heart through building trustworthy working products and services. Who knows, very soon a new trend will start and what happened in Defi may happen again. Lastly, as for Dex; the idea to have more Dex is good in order to be more sure of your asset security but yet again, the way they are springing up nowadays calls for everyone to be careful as scammers do not miss out on any opportunity.

[JHORN]

Can't deny that fact that DeFi scam is just like ICO scams, the whole idea is repeating other legit DeFi projects use cases, here is my own way of investing on DeFi projects

1. Go for old DeFi projects that have existed before 2020 or before DeFi hype started
2. It's better to go for DeFi projects that are introduced by top exchanges probably through IEO because I believe top exchanges are good at keeping their reps safe
3. DeFi projects must have high quality use case and also the team must be visible and have pro blockchain experience, transparency on the other hand but be present

[libert19]

1. tip
Avoid defy
2. tip
If you decide to ignore first rule never invest more than you can afford to loose

2nd. Defi projects are high risk high reward. Returns are crazy if you got in time on good project.