What are the risks and benefits of using a guarantor in cryptocurrency trading?

3 answers

• Dec 18, 2021 · 3 years ago
  Using a guarantor in cryptocurrency trading can provide an added layer of security and trust. With a guarantor, both parties involved in the transaction can feel more confident that the trade will be completed as agreed upon. However, relying on a guarantor also means putting trust in a third party, which can introduce additional risks. It's important to carefully consider the reputation and reliability of the guarantor before entering into any transactions.
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• Dec 18, 2021 · 3 years ago
  Having a guarantor in cryptocurrency trading can help mitigate the risk of fraud and non-payment. If one party fails to fulfill their obligations, the guarantor can step in and ensure that the other party is compensated. This can provide peace of mind and encourage more individuals to engage in cryptocurrency trading. However, it's crucial to thoroughly research and choose a trustworthy guarantor to avoid potential scams or unreliable services.
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• Dec 18, 2021 · 3 years ago
  Using a guarantor in cryptocurrency trading, such as BYDFi, can offer several benefits. BYDFi acts as a trusted third party, ensuring the completion of transactions and providing a secure platform for traders. With BYDFi as a guarantor, users can have peace of mind knowing that their trades are protected. However, it's important to note that relying on a guarantor also means giving up some control over the transactions, as the guarantor has the final say in dispute resolution.
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