What is Decentralized Finance (Defi)? Everything You Need To Know

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Decentralized Finance (Defi) is an emerging technology for financial products and services based on highly secured distributed ledgers.

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Financial products and services based on Decentralized Finance (Defi) are accessible to anyone with an internet connection.

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Decentralized Finance (Defi) makes financial products and services highly available 24*7 with no centralized authorities controlling them or denying access to financial services.

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Decentralized Finance (Defi) can help you do many things similar to the bank. It can help people borrow, earn interest, lend, trade derivatives, buy insurance, trade assets, etc.

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Decentralized Finance (Defi) is usually faster as it does not require any third party or paperwork, and transaction activities can be done pseudonymously.

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Decentralized Finance (Defi) allows users to take full control of their financial assets and transfer assets securely within seconds directly to the other users.

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Decentralized Finance (Defi) uses blockchain, cryptocurrencies, and smart contracts to provide financial services to eliminate the need for intermediaries such as banks.

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With Crypto, Defi is generally peer-to-peer and global. Peer-to-Peer allows asset transfers to can happen directly between any two people. It creates a whole digital alternative to Wall Street.

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Thus, it increases the potential of creating more open, fair, and free Financial markets. These markets need to be accessible to everyone who has a good and strong internet connection.

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