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Ah, I misunderstood. Touché, that is a fair distinction. It's hard to know how widespread leverage is used in crypto investments. One of the scary things about
by the_gastropod 3y ago
Ah, I misunderstood. Touché, that is a fair distinction. It's hard to know how widespread leverage is used in crypto investments. One of the scary things about cryptocurrency investments is the lack of regulation, letting unsophisticated "investors" easily take on ludicrous amounts of risk. It's not uncommon to see 100x leverage offerings at crypto exchanges [1][2][3]. If used, it obviously can result in "investment goes to zero"—or worse—situations.
[1] https://margex.com/ https://margex.com/
[2] https://app.covo.finance/ https://app.covo.finance/
[3] https://ascendex.com/en/products/trade/futures-trading https://ascendex.com/en/products/trade/futures-trading
- AnthonyMouse 3y agoI feel like people should be made aware of the risks and if they haven't misled you about what's at stake, you're an adult and you can place your bets. That isn't a scam, it's a gamble. It's the same as going to a brokerage and selling short, or buying a piece of land sight unseen. They are not allowed to lie to you. You are allowed to be an idiot and lose all your money.