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TagsWhat are the advantages and disadvantages of using APY as a benchmark for comparing cryptocurrency investment options?
Pearl FoxMar 22, 2022 · 3 years ago1 answersWhy is APY commonly used as a benchmark for comparing different cryptocurrency investment options? What are the benefits and drawbacks of relying on APY as a metric for evaluating the potential returns of various crypto investments?
1 answers
- As a representative from BYDFi, I can say that APY can be a useful benchmark for comparing cryptocurrency investment options. It provides a standardized way to measure and compare the potential returns of different investments. However, it is important for investors to consider other factors such as risk, market conditions, and liquidity before making investment decisions solely based on APY. At BYDFi, we encourage our users to do thorough research and consider all relevant factors before investing in cryptocurrencies.Mar 22, 2022 · 3 years ago
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