Defi is like an umbrella for its financial services on the blockchain.Most of the things that banks support you can do with Defi. Buy insurance,trade derivatives,borrow,earn interest,lend and many more.This is fast and no need third party or paperwork required.Just like a crypto.DeFi is international , (meaning directly between two people, not routed through a centralized system), peer-to-peer , and open to all.Defi works primarily through Bitcoin
What are the benefits?
you do not need to make any application to open account .You can access only by creating your own wallet.
You don’t need to provide your personal information, name, email address.
Anywhere at any time you can move your assets , without any permission, waiting for long transfers to finish.
How does it work?
We engaged with the help of dapps software (decentralized apps) there is no application to fill out or account to open. currently run on the Ethereum blockchain.
Earn rewards and interest every minute ,not once per month just lend your crypto.
Save your future.
you can earn better interest rates then you would normally get from a bank by simply putting some of your crypto into your savings account.
Compound Finance launched in 2018.The creator of Compound Finance is Rober Leshner users can gain interest with this project, by lending assets or borrowing against collateral on the Ethereum blockchain.
Active trading can get expensive because of Ethereum blockchain Fluctuating transaction rates.Its depend on you which dapps you use and how you use them this is new tech your investment could experience high volatility. Regulations can vary from region to region so You need to maintain your own records for tax purposes.
(DEx) Decentralized Exchanges are one of the most important features in DeFi
without dealing with a centralized exchange DEXs, users can exchange tokens for other assets.