How can I protect my investments in NFTs during a market plummet?

1 answers

• Dec 21, 2021 · 3 years ago
  At BYDFi, we understand the concerns of investors during a market plummet. One way to protect your investments in NFTs is to consider using decentralized finance (DeFi) platforms. DeFi platforms allow you to collateralize your NFTs and borrow stablecoins against them. This way, even if the market value of your NFTs drops, you can still access liquidity and protect your investments. However, it's important to carefully evaluate the risks associated with DeFi platforms, such as smart contract vulnerabilities and market volatility. Conduct thorough research and choose reputable platforms with robust security measures in place.
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