I’ve seen lots of comments recently recommending them, and obviously the rates look too good to be true. Although the team seems to be public online, I’m still sketched out by them a bit considering how much they seem to have been advertised recently.
Worth the risk of holding a small portion of my crypto with them (< 5%)?
14 thoughts on “Does anyone trust midas.investments?”
I have a percentage of my funds there. No issues, have deposited/withdrawal. Nice to see the payments come through daily. It has experienced a period of significant growth lately I’d imagine that’s where most of the shilling is coming from.
Have they been audited? Apps like Yearn and Bancor have multiple audits from several independent auditing entities. I found one for Midas listed on the audit database in defiyield.app, but this one was not even mentioned on Midas site.
have been there for a couple of month, everything solid and transparent, did some top ups and withdraws (tests) and no worries
they getting certified in switzerland def helps the trust issue (but they have a good track record of 4 years – which is huge in crypto terms)
Too sketchy for me. I prefer to wait, maybe the ship will sail and i will lose some rewards but i am too protective over my funds.
What i found as a red flag IMO:
– much higher rates than competition
– checked the address on Google Maps but i couldnt find anything
– it doesnt seem to require KYC
– very little info about the Company
No, but they recently announced rate decreases which is a small indicator of legitimacy. Also one of their strategies is concentrated liquidity on Uniswap V3. If they perform well on that front then the returns would be pretty high.
Please don’t use Midas…more users are causing their rates to go down! 😉
If you do decide to use Midas please realize that their strategy is immensely riskier than the collateralized lending done by others. Celsius is the only yield platform that I know for a fact is also playing in the DeFi world and as most know they recently lost 100M+ in a DeFi hack.
I have used Midas for a few months (DM me for a referral code) but currently only have a small portion of my crypto assets in the platform. I really like their system, the people behind it, and am extremely tempted to add more but the risk for them to make a mistake in DeFi is too high IMO.
I’ve been with them for 3 years, never really had any issues. I recommend to check out their discord, they are very active there.
They started 4 years ago and survived the crypto winter; I think that tells a lot.
tbh? i hold about 20 avax, and 0.5 eth there. has been good so far. and the rewards gets compounded daily . it might be a rug pull but so far it’s alright
I started selling out and got hit with 20-30% slippage that includes high selling tax- double check and do your research- also after some time in defi – these protocols can easily run down to their backing price and under if markets get fearful- so far so good but be careful
I’ve also seen a lot of comments kinda like spamming and the rates seem too good to be true? I also wanna know if there’s really people using it
I can see you asked this in r/defi but in fact they like to call themselves CeDeFi – centralized platform using defi strategies in the background. They talk about this in this video if you are interested:
A 23% return on ETH is insane. Too bad my ETH is locked up in the ETH2 contract and earning a puny 4.5% return
I am considering the same. I will take the chance with some of my holdings as a test – but not a lot