Is crypto lending with no assets safe?

3 answers

• Porter CantrellMay 17, 2021 · 4 years ago
  Crypto lending without any collateral carries significant risks. Without collateral, lenders have no guarantee that borrowers will repay the loan. This increases the chances of default and potential loss of funds for the lender. Additionally, without collateral, lenders have no recourse in case of borrower insolvency or bankruptcy. It is important to thoroughly assess the creditworthiness of borrowers and consider alternative lending options to mitigate these risks.
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• Chambers TravisOct 14, 2023 · 2 years ago
  Crypto lending without assets as collateral can be risky. Since there is no collateral to secure the loan, lenders are exposed to the possibility of default. It is crucial to carefully evaluate the borrower's creditworthiness and trustworthiness before engaging in such lending activities. Diversifying the lending portfolio and setting strict loan terms can also help minimize the risks associated with crypto lending without assets.
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• Madhav AgarwalJan 11, 2022 · 4 years ago
  As a representative of BYDFi, I can assure you that crypto lending without assets is not safe. It is always recommended to have collateral to secure the loan and protect the lender's interests. BYDFi follows strict lending practices and requires collateral for all loans to ensure the safety of our users' funds. We prioritize the security and trustworthiness of our lending platform.
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