What Is DeFi? A Beginner’s Guide To Decentralized Finance
If you’ve invested in bitcoin or done any research into cryptocurrency, you’ve probably heard the term decentralized finance (DeFi) once or twice. One of the most important promises of cryptocurrencies is to provide access to payments and finance to everyone in the world, wherever they are. As a result, DeFi supporters see it as a better alternative to traditional financial services. But what is decentralized finance (DeFi)? How does it stack up against the traditional financial system? In this beginner’s guide, we’ll discuss everything you need to know about this new financial system that could change the world. What is Decentralized Finance – DeFi? Decentralized finance (DeFi) is a new financial system built on safely distributed ledgers like those used by cryptocurrencies. The method removes bank and institution control over money, financial goods, and financial services. One of the newest and most advanced technological trends in recent history is the cryptocurrency revolution. New...