The Rise of DeFi Solutions in the Crypto Sphere


Introduction

The crypto sphere is moving rapidly despite the flat market we are in the last 2 years. Even a small pump of Bitcoin is not something very exciting anymore because the price always comes back in the same value number.

In the meantime, I noticed a new trend in the crypto space at the moment. The number of platforms that bring decentralized finance in the market.

I came across this term two months ago with the new hot buzzword DeFi.

What is DeFi

I am sure you are already familiar with the business model of a bank. The function of a bank is to store and borrow money as its core business.

DeFi is a replication of this model but with the concept of crypto and decentralization in mind. It is a huge innovation and even the unbanked can have access to money.

Interest and crypto

You can make interest with your crypto and stablecoins as we speak. Those platforms perform well at the moment and we have solutions like Nexo and Crypto.com.

It is an exciting moment in the history of crypto the rising of DeFi use cases.

The end of the banks or evolution

The function of a bank is not very exceptional but convenient to store money and pay bills. Can you imagine soon to do the same and pay in crypto all your bills and store your money in a DeFi APP?

I believe is something that will be normal, maybe 10 to 15 years from now. Everyone is using a smartphone these days and to install a crypto wallet is something not that difficult.

Even Coinbase bring DeFi

I read a good article this morning that Coinbase endorses a new APP that is called Trust Wallet. Supposedly you can stake tokens on it and you can make interest and borrow money.

At this stage, I have only installed the APP and is something I will try for my crypto blog.

Conclusion

We live in a great era in the crypto sphere. Familiarize yourself with this hot trend!

DeFi might become something huge and everyone will use it in 10 years.

Chesatochi.com - For the love of crypto

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Chesatochi
Chesatochi

Chesatochi.com - For the love of crypto and coffee


Chesatochi Crypto & Coffee
Chesatochi Crypto & Coffee

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