what is DeFi crypto

Some years back, I tried telling someone about an airdrop which was everywhere on telegram because the person told me that he had an idea on Decentralized finance so with that, I somehow ended up mentioning DeFi crypto, but the first question that followed up was what surprised me. He said What is DeFI crypto?

I was surprised that he knew and also had an idea on blockchain Decentralized finance but he did not know about DeFi and that was why he asked that question what is DeFi Crypto.

That’s why in this article if you are also wondering what DeFi is but you have an idea on Decentralized finance, then I will quickly say that you already have the answer to the question “What is DeFi Crypto”?

DeFi Crypto: means Decentralized finance. It is one of the ways which helps users to execute a

financial transaction through an application.

It is a blockchain-based form of finance which do not need a bank or brokerages before they can carry out any financial process.

What is the best DeFi Crypto?

There are a lot of other DeFi Crypto out there, but these are the top 6 best DeFi Crypto that you shouldn’t joke with;

Compound, Maker, Uniswap, Chainlink, Ankr, Aave, etc.

If you want to go for DeFi coins, then I will suggest that you check out those top 6 coins ever.

Can you invest in DeFi?

Yes, you can invest in DeFi using the Trading DeFi assets method. This method is the best method you can use to trade either in the short or long term.

How do I learn DeFi?

If you are new to DeFi and you have an interest in it, then the best option to follow their handles either DeFi on Reddit, DeFi on Telegram, Their prime event list, or you visit youtube to get more insight using the video method.

Are DeFi coins a good investment?

If you have patience in the business, DeFi coins will turn out to be a good investment. Just like other coins, DeFi most times rises even double or triple of what it was when you bought it.

That means if you have patience and trade your investment using the Trading DeFi assets method, in the process of waiting for when the market will favor you, then you will cash out big if not, you will just cash out low.

So yes, DeFi coins is a good investment for patient users.

How does DeFi crypto work?

DeFi crypto works with Ethereum blockchain as it does not need any official services from any authority. DeFi works by taking the traditional elements of a financial system and then ensures that it replaces them (third party) with a smart contract.

How do I buy DeFi?

To get started with DeFi, you will need a token, which can be gotten from Binance Smart Chain, after getting the token, get a BNB (BEP20). BNB is used for transaction fees.

This BNB will help you to be able to buy therefore when you acquire that, proceed and open a wallet using the dapp browser. This will help you to be able to trade tokens in exchange like swap, uniswap, etc.

How do I transfer from Crypto to Crypto DeFi wallet?

To send crypto from Crypto.com App to Crypto.com DeFi Wallet you have to follow these carefully.

1 Sign into your account, go navigate to settings under settings, a lot of options will display, scroll down until you reach an option with a write-up “Crypto.com wallet”. When you tap on it, scroll down and select the option below with a write-up “send funds”.

Note: you have to ensure that your Crypto.com wallet is connected to the account before making any transaction.

If you are not okay with this option, you can always use another option by following these second steps for a successful withdrawal from crypto.com to the wallet.

1 Log into your account, once you are in, on the home screen select the transfer option by tapping the button.

2 Click on withdraw after that

3 Select your option which is Crypto

4 Since you are doing the transaction with an external account, then select “External Wallet”.

5 After you have located the external wallet, also try and locate the withdrawal address whitelist and then tap withdraw.

6 Select and then fill in the amount in which you want to withdraw.

7 Tap on withdrawal. that’s all.