Cryptotrasta
BackedFi

BackedFi

3.515 reviews

blockchain_bob

San Francisco, CA

2.0

Confusing terms, slow support

I had trouble with the borrowing terms, they weren't super clear about liquidation thresholds. Support took almost two days to respond, which was frustrating since I was worried about losing my collateral.

crypto_pete

Miami, FL

2.0

Lost funds, no response

Funds disappeared after a transaction, and support is ignoring me.

markus_d

Vienna, Austria

2.0

Unclear liquidation alerts and slow fixes

Had an unpleasant experience where I got liquidated unexpectedly because the platform didn't alert me in time. Tried reaching out for help but support was really slow and didn't provide clear guidance. The UI doesn’t make it obvious when your collateral is under risk, which is risky for DeFi newcomers like me. I’m hesitant to continue using BackedFi until they improve their notification system and support response times.

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