What is DeFi and why do we need it? let’s Face it🧐
DeFi, which stands for decentralized finance, is the general term for financial applications running on blockchain protocols. Some of the services it provides include lending, borrowing, trading, investing, which are not always available to everybody in the traditional finance sector. Therefore, we need DeFi since it gives everyone in the world open access to financial products that would normally have been out of reach for them
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DeFi, which stands for decentralized finance, is the general term for financial applications running on blockchain protocols. Some of the services it provides include lending, borrowing, trading, investing, which are not always available to everybody in the traditional finance sector. Therefore, we need DeFi since it gives everyone in the world open access to financial products that would normally have been out of reach for them
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What is DeFi Ethereum?
The vast majority of DeFi platforms are built on top of Ethereum, a specialized blockchain for running smart contracts and decentralized applications. This means that they are fully compatible with other DeFi-based cryptocurrencies, allowing token swaps. For instance, Uniswap allows you to trade various Ethereum-based DeFi tokens against each other.
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The vast majority of DeFi platforms are built on top of Ethereum, a specialized blockchain for running smart contracts and decentralized applications. This means that they are fully compatible with other DeFi-based cryptocurrencies, allowing token swaps. For instance, Uniswap allows you to trade various Ethereum-based DeFi tokens against each other.
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Stake,Trade, Exchange your crypto and make a profit🤩.
How do I get into DeFi?
There are countless ways you can participate in DeFi. However, when we say getting into DeFi most people usually mean lending or yield farming. In other words, earning passive income by locking up digital currencies. Here are three simple steps you can take to get started:
1). Download an online wallet like the MetaMask extension, install it on your browser, and finally create a wallet.
2). Buy Ethereum on popular exchanges that allow you to use credit cards or bank accounts such as CEX, eToro, Coinmama, Coinbase, or Bitpanda.
3). Supply liquidity to platforms like Uniswap, Sushiswap, etc.
4). Start earning yields!
⏭ Follow DeFimillion.com
Stake,Trade, Exchange your crypto and make a profit🤩.
There are countless ways you can participate in DeFi. However, when we say getting into DeFi most people usually mean lending or yield farming. In other words, earning passive income by locking up digital currencies. Here are three simple steps you can take to get started:
1). Download an online wallet like the MetaMask extension, install it on your browser, and finally create a wallet.
2). Buy Ethereum on popular exchanges that allow you to use credit cards or bank accounts such as CEX, eToro, Coinmama, Coinbase, or Bitpanda.
3). Supply liquidity to platforms like Uniswap, Sushiswap, etc.
4). Start earning yields!
⏭ Follow DeFimillion.com
Stake,Trade, Exchange your crypto and make a profit🤩.