Quote from: Iceblast on February 07, 2021, 10:45:29 PM

even I don't believe in earning any crypto interest. I've had a bitter scam experience against the application site so I will never believe it. the best step is only to store BTC in a hardware wallet like the nano ledger

I have seen a lot of people defending the cryptocurrency interest sites. But I have never seen them explaining how these sites make profits. Bank deposits provide us with an interest, because fiat currency is not protected against inflation. Interest payments make sure that the net purchasing power never decreases. But that is not the case with cryptocurrency, and therefore there is no logic in getting interest payments from these sites.

And even if everything is legit, how these sites are able to keep their operations viable? Either they are making investments with the coins, or they are lending out to others at a higher interest rate. Both the options are highly risky. Investments can fail, with volatile assets such as cryptocurrency. And the chances of default for cryptocurrency loans are much higher than the same with fiat.