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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
It is such a challenging task to stop yourself from longing for more while trading in stocks or cryptocurrencies. Many such traders or investors end up losing their precious bucks. Most of the active and experienced traders miss the chance to join or exit a rally or a slump, through poor timing. Trading movements depend on market factors and company fundamentals that are behind a stock or a cryptocurrency.
If you're a rookie crypto investor or someone who turns into an obsessive-compulsive trader, now is the time to bid adios to the OCD. LockYourCrypto is designed to help traders take control of their trading habits and routines.
Decentralized finance (DeFi) allows traders and investors to access financial services without taking help from a bank or a broker or being answerable to any government authority or financial regulator. Apart from LockYourCrypto, the two other most popular DeFi platforms are Curve and Aave, which offer users several benefits and features. Let's have a look at the five reasons why you should prefer LockYourCrypto over Aave and Curve.
LockYourCrypto requires users to connect their non-custodial wallet to access the platform.
Non-custodial wallets are designed to give users complete control over their funds. They ensure that users do not have to rely on the platform to manage their assets. MetaMask and MyEtherWallet are two prime examples of non-custodial wallets.
On the flip side, users of Curve and Aave deposit their funds into the platform's smart contract. It means users are entrusting their assets to the platform. Although both Aave and Curve have built a strong reputation among their user base, there is always room at the top for innovation, which is fulfilled with LockYourCrypto, which provides an added layer of security to deliver peace of mind.
LockYourCrypto is built on decentralized exchange (DEX), which takes out all unnecessary external players like government authorities, financial regulators, or watchdogs. DEX allows users to go about their crypto trading business with exceptionally low charges and in the closest proximity to real time. This is the kind of freedom and liberty that keeps investors and traders glued to their trading screens. Anyone can enjoy a quick and easy swap between different cryptocurrencies, which makes it ideal for traders who are looking to take advantage of market opportunities.
On the contrary, both Curve and Aave don't have a built-in Decentralized Exchange, which forces their users to rely on external exchanges to trade their cryptocurrencies. Apart from being time-consuming and expensive, shuffling between different DEXs can also make users lose their focus.
If you want to gain better interest rates, LockYourCrypto has you covered. It offers some of the highest interest rates in the DeFi space, with rates of up to 25% APR on certain assets. Moreover, you can earn significant returns on your cryptocurrency holdings, which can be particularly attractive in a low-interest rate environment.
In contrast, interest rates offered by Curve and Aave are on the low side, typically ranging from 2-10% APR. Nevertheless, these rates are still competitive against traditional banks.
With LockYourCrypto, you can collateralize a wide range of assets, including cryptocurrency, stocks, and real estate. It gives you more options and flexibility while using the platform. For example, you can use your real estate holdings as collateral to take out a loan. This way, you can still keep your real estate asset and get the required liquidity.
On the other hand, Curve and Aave are designed only to collateralize cryptocurrency assets. Although both of these platforms offer a wide range of cryptocurrency assets to pick from, LockYourCrypto is more flexible with collateralization, which makes it far more attractive than the other two.
A decentralized community of users governs the LockYourCrypto. It means they can propose and vote on the prospective or suggested changes to the platform. It allows the platform to evolve with time in a way that is aligned with its users' larger interests. If for example, any user wants to add a new asset to the platform or make changes to the interest rates offered, he or she can propose these changes and vote on them.
Conversely, it is development teams that govern both Curve and Aave. The community has little or no say in the proposed changes to either platform.
It goes without saying that decentralized finance has emerged as an exciting and rapidly evolving space. Platforms like LockYourCrypto are helping to achieve the unimaginable in the world of decentralized finance.
As the DeFi ecosystem continues to grow and mature, we can expect to see even more innovative platforms and features emerge, providing users with greater access, flexibility, and control over their financial lives.
You can use LockYourCrypto to make the right and timely investment choices and make money instead of watching it sink into the sand.
website: www.lockyourcrypto.com
twitter: https://twitter.com/_LockYourCrypto
