Corruption, greed and fraud are not isolated to leadership only. Whatever direction the network goes in there will always be someone there trying to steal and deceive. Constant vigilance by good people is one way to keep the wolves at bay.
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DeFi allows for the possibility of crypto losses through self-custody errors. While ānot your keys, not your coinsā means your crypto can be safely stored on your personal crypto wallet(s), the flip side of this is ālose your keys, lose your coins.ā If you donāt have recovery measures in place (a secondary wallet backup or a recovery phrase) and you lose your wallet or forget its access password, you will lose all the crypto stored on the wallet.
Such a new space that it is difficult to get support help when something goes wrong. Canāt undo a mistake.
Nascent technology brings a landscape similar to the Wild, Wild, West. Ill-prepared investors are losing millions through simple errors when sending crypto. The user interfaces for DeFi right now are horrible. Easy to make mistakes. Mistakes are final too.
Adds to Digital divide. Those who cannot follow internet or do not have access to security tools are at a disadvantage.
i think most critical drawback is the security . Protect your wallets, email, personal information ā¦ If you try enter in Defi without education, learning (e.g Moralis Academic) the only outcome is losingā¦ People must invest in educationā¦ I put it here as a drawback , not because education or learning is a flaw , just because i believe that not all the people have the income or even the belief to invest in education