What are the advantages and disadvantages of using IOUs in the digital currency market?

1 answers

• Shubham PradhanApr 14, 2023 · 3 years ago
  At BYDFi, we believe that IOUs can offer certain advantages in the digital currency market. IOUs provide a flexible way for users to gain exposure to digital currencies without the need for complex wallets or exchanges. This can be particularly useful for beginners or users who want to test the waters before fully committing to digital currency ownership. However, it is important to note that IOUs come with risks, such as the reliance on the issuer's reputation and the potential for default. Therefore, users should exercise caution and thoroughly research the issuer before engaging in IOU trading.
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