What is DeFi?
What is DeFi? There is a good chance if you are reading this now, this is the first time that you have heard of DeFi.
DeFi stands for “Decentralized Finance”.
Basically this is recreating our current financial system on Blockchain, this includes Currency, Trading, Banking, Loans, Leverage, insurance, mortgages, financial contracts and beyond.
If there is something you can currently do in the financial world, someone is trying to recreate it on blockchain.
Why is this important for you?
What this is doing for individuals like you and I, is redistributing all of the funds the Banks have sponged up for decades. These are now being paid out to the users of the blockchain platforms. This equates to high interest and large rewards for those who are participating in the projects. These high rewards are NOT to good to be true, they are simply what has always existed, now being distributed to the user not the Banks and Corporations.
How do you get into DeFi and what do you need to invest to do it?
You can get started with a very small investment. Contrary to popular belief you do not need a large investment to begin investing in Crypto. There are many ways you can get into DeFi, including things like Liquidity pools and Crypto Loans.
If you would like a more thorough explanation of DeFi here is a YouTube video by Whiteboard Crypto,