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Question

How to use decentralized finance?


Answers (1)

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Arsalan Afzal
Feb 22, 2022 06:21:08

Decentralized finance, or "DeFi" for short, is a new and rapidly growing area of the cryptocurrency world. DeFi refers to any financial product or service that is built on top of a decentralized blockchain platform like Ethereum. This includes products such as decentralized exchanges, peer-to-peer lending platforms, and digital asset wallets. One of the key benefits of using DeFi products is that they are trustless and censorship-resistant. This means that you can be assured that your funds are always safe and cannot be frozen or seized by anyone without your consent. Additionally, DeFi products are often much cheaper and faster than traditional financial products and services.

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