You send your Bitcoins to a centralized entity to play a dangerous leverage game.

There is a double risk:

1. You get liquidated. High probability with such a volatile asset

2. Centralized entity fucks up and your Bitcoins are gone. History shows this is a EXTREMELY high probability

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I’m not saying do it, you were saying the option is defi so just pointing out another option. I’m a cold storage, no leverage maxi