Yugocean
Valued Contributor
A higher APR rate has been announced by Kucoin to increase investment on its platform. It may sound attractive, but many doubts are arising from it.
Recently, due to the collapse of FTX, platforms are shutting down one after another with no way to save them. There is also a growing trend among people to keep their crypto in wallets instead of keeping it on exchanges.
It can be assumed that the high APR rate by Kucoin only encourages people to invest, but will Kucoin be able to give such a high interest rate to the investors as promised?
This is possible only if Bitcoin can earn even more interest by making other investments, and this is where the doubt arises.
Recently, the downfall of Gemini also happened because it was dependent on another platform, Genesis, to earn on its platform. And as soon as FTX went down, Genesis started going down, and Gemini started going down along with it.
Recently, due to the collapse of FTX, platforms are shutting down one after another with no way to save them. There is also a growing trend among people to keep their crypto in wallets instead of keeping it on exchanges.
It can be assumed that the high APR rate by Kucoin only encourages people to invest, but will Kucoin be able to give such a high interest rate to the investors as promised?
This is possible only if Bitcoin can earn even more interest by making other investments, and this is where the doubt arises.
Recently, the downfall of Gemini also happened because it was dependent on another platform, Genesis, to earn on its platform. And as soon as FTX went down, Genesis started going down, and Gemini started going down along with it.
