Defi is still a big confusing thing for many people. So here in this article we will tell about Defi meaning and Defi project meaning.
And also we will talk about Defi related best Defi projects of year 2020.
Defi means Decentralised Finance.
This is new concept project in cryptocurrency market .
Defi project was launched at the end of year 2019 but it is ignored by most of the people in this field.
But in year 2020 it get lots of hype and now people are looking to invest only in the projects which are based on Defi projects.
- Be Safe To Use Defi
- Benefits and Disadvantages with Defi
Need of Defi Project
Need of Defi project can be resemble with the banking system in our practical life.
In the present time people are earning in crypto but saving money in fiat currency ( banks ). Which is a very sad thing for crypto market because if people will work in crypto and move their saving in fiat then surely the market of the crypto will crash. So to make a cryptocurrency market like bank system, A new concept introduced, which is known as Defi or Decentralised Finance.
How does Defi Project work
Many people knows that what is Defi but they don’t know that how did Defi based project works.
If you are one of the person in this field of crypto who don’t know about the Defi work system concept, then I would like to suggest you to assume Defi as a bank in the cryptocurrency market.
All interest and loan services are available at Defi platform.
You can put your money in Defi integrated projects and coins.
Just like bank, you will get interest for your money that you deposited in your bank account, similarly you can invest in DEFI Liquidity POOL.
Unlike bank, you can invest in multiple coins instead of single currency to get multiple types rates of interest there. For current time interest and loan rate you can visit at www.defipulse.
To start earning with the investment in dEFI based project , don’t go blindly . Do your own research and reviews about social media.
What is Defi crypto?
Due to different different types of the words and slogans in the crypto field, people are getting confused to understand real meaning of particular word .
Here many beginners thinks that Defi crypto are those crypto coins , which are new and are only using the name of Defi to get popularity, which is not the reality.
All the coins which are using DEFI Liquidity POOL, are Defi coin.
If a coin will join the Defi concept then we will be able to buy-sell that coin at Defi POOL by just swap our coins and also we will be able to make earning interest with that amount of coin there without any risk just by putting in liquidity pool .
Many coins team are now going to join Defi project, so people are getting opportunity to make earning by lock their fund in Liquidity POOL .
And this leads into high amount of invest in that coin and that result into pump in the market of the coin .
Here one another thing that we can consider about DEFI coins is , we can be owner of the coin market as much as we invest our coin fund in the liquidty of of that coin .
Many types of products and services in this crypto field have their own coin and are now implementing Defi concept .
Even numbers of trading platforms are looking to integrate their services with Defi.
Most probably chances are that Binance will launch his DEFI Platfrom in 2021.
You can check list of services and coins which are on Defi at www.defipulse.com
IF YOU GUYS FIND THIS ARTICLE HELPFUL IN ANY WAY THEN DON’T FORGET TO SHARE WITH YOUR FRIENDS AND ALSO DON’T FORGET TO SUBSCRIBE OUR BLOG FOR MORE NEW NEW EDUCATION AND UPDATES IN THIS FIELD OF CRYPTOCURRENCY IN SIMPLE AND EASY LANGUAGE.