This is the financial system we are all familiar with, in which third parties control all our transactions while charging a fee for their services. Since anything we do with our money is controlled by these institutions, this system is known as centralized finance (CeFi) or traditional finance (TradFi). All these transactions are facilitated by financial corporations, like banks, controlled and owned by a small group of shareholders. There are many different ways we use our money in the course of our life-buying goods, exchanging our local currency for foreign ones, getting a loan, investing in a company, and more. So let’s start by understanding what DeFi is and how it differs from traditional finance. How to Invest in DeFi: Using a DeFi Appīefore diving into the practical things, it’s important to understand the basics that power everything we are going to do in DeFi.What Is a Crypto Wallet and Why Do You Need One?.If you are already familiar with crypto, keep reading to learn how to unlock the true power of your digital assets. If not, you might want to learn all of that before reading this article. Note: I assume that you are already familiar with crypto and know what a blockchain is and how popular cryptocurrencies like Bitcoin and Ethereum work. Indeed, we won’t stop just at the theory, but we’ll see how to use all the tools and apps needed. This won’t happen to you because this is exactly the guide on how to invest in DeFi I wish I’d read when I was getting started. It was a difficult process, but don’t worry. Not only was the theory behind it complex, but I then needed to learn how to use each app and understand what was safe and unsafe. I remember that the more I learned about decentralized finance, the more confused I was. I’d held Bitcoin and Ethereum for some time, but I hadn’t fully realized how much more I could do with my crypto holdings-so I really hope this guide will make things easier for you. I still remember how surprised I was when I heard of DeFi for the first time.
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