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[AudraMiller]

The use of cryptocurrency is expanding at an alarming rate in the last few months and there are more and more articles that are being released that show the various uses that have been occurring lately. In a recent article, a man in Australia has paid off his mortgage and has been refinanced the loan through the use of DeFi. This is quite a major step in the use of DeFi. Could this result in more Defi users? What are your thoughts on how this can affect the DeFi world?

 

[Balint098]

Hmm, I'd say let the market regulate itself. People will always find creative way to manage their finances. The more people use crypto the more better and widespread its use will become.

 

[AudraMiller]

Hmm, I'd say let the market regulate itself. People will always find creative way to manage their finances. The more people use crypto the more better and widespread its use will become.

This is true. It is news such as this where the practical applications of cryptocurrency are shown, that will bring in more users to cryptocurrency and encourage them to look into it. After all, seeing someone make use of it is bound to give people more confidence in the coins itself.

 

[Brain]

Definitely, it will help others to know more about Defi as well as using it as well. This is like a subtle way of creating awareness about Defi and it's usage

 

[Niftyicon]

The use of cryptocurrency is expanding at an alarming rate in the last few months and there are more and more articles that are being released that show the various uses that have been occurring lately. In a recent article, a man in Australia has paid off his mortgage and has been refinanced the loan through the use of DeFi. This is quite a major step in the use of DeFi. Could this result in more Defi users? What are your thoughts on how this can affect the DeFi world?

This is quite good and such news would help people understand more the benefits of using Cryptos and how they could be used as real financial tools.

 

[Wisdom01]

Well i think the major impact is that it will give confidence to the investors , to invest more in those defi project actually i think , so its really good

 

[Niftyicon]

Several people are really doing well investing in these Defi projects even though the hype has lessened, many people are still flocking towards it.

 

[sagefave]

Being able to pay off his mortgage through DeFi projects demonstrates great purpose and commitment on the part of the Australian man. I don't know much about DeFi projects but with this testimony I'm inspired to learn about it.

 

[Wisdom01]

Several people are really doing well investing in these Defi projects even though the hype has lessened, many people are still flocking towards it.

But a lot of people are scared of scam that might occur on the defi project , so this,would rather serve as a boost to their confidence to invest more

 

[Niftyicon]

But a lot of people are scared of scam that might occur on the defi project , so this,would rather serve as a boost to their confidence to invest more

Yea, you are right and in fact there have been a lot of scams and hacks on various projects, so it is nice having a good news come from that.

 

[Wisdom01]

Yea, you are right and in fact there have been a lot of scams and hacks on various projects, so it is nice having a good news come from that.

True actually and i think the scams and hacks have prevented and also make some people reconsider before investing any cash i the project i think

 

[sh199]

Many DEFI lending platforms planning that make loans and transactions will happen in the real world. Like anyone who needs a loan in crypto, then the user can use this own real asset for taking the loan. DEFI platforms like AAVE, COMP, MAKER, and others lending projects are now booming for their simplicity and easy way for borrowing and lending money.

 

[AudraMiller]

Many DEFI lending platforms planning that make loans and transactions will happen in the real world. Like anyone who needs a loan in crypto, then the user can use this own real asset for taking the loan. DEFI platforms like AAVE, COMP, MAKER, and others lending projects are now booming for their simplicity and easy way for borrowing and lending money.

The concern that I think comes with cryptocurrency lending is the fact that there is a lot of uncertainty and risk involved in terms of getting paid back the amount that you lent out. I think if this was more regulated it will become more popular within the cryptocurrency space.

 

[Binita100]

It might results to more defi users ,many would want to see people do some certain things and becomes successful , before they try to do things like that

 

[sh199]

The concern that I think comes with cryptocurrency lending is the fact that there is a lot of uncertainty and risk involved in terms of getting paid back the amount that you lent out. I think if this was more regulated it will become more popular within the cryptocurrency space.

Yeah. DEFI platform made it so easy and profitable. Just connect to your wallet and deposit. You will get an APY rate every single day. And their rules and regulation are great to maintain the platform safely.

 

[sh199]

Do you know of any platform on the defi project that still offers high apy, i need to know about some that do so , the definition project is amazing

There are many DEFI lending platforms in the market like venus, aave, compound, maker, cream finance, and lots more.
For stablecoin's, you will get around 20/30% APY. Most of them have audits from reputed companies.
Keep in mind before investing in them, please do enough research about them.

 

[Binita100]

That is is the way many people are built and that is why its hard for some people to succeed because they rely on people actions a lot too

Relying on people actions can be helpful too , many people have relied on people action and they have suceed very well ,it depends on you

 

[AudraMiller]

Yeah. DEFI platform made it so easy and profitable. Just connect to your wallet and deposit. You will get an APY rate every single day. And their rules and regulation are great to maintain the platform safely.

What are the interest rates that you can get with the DEFI platform if i may ask? There are some platforms that i have seen that have had very low interest rates that do not warrant any sort of investment into the platform. Could you elaborate a bit more on the interest rates.

 

[highspeed]

Well, DeFi (Decentralized Finance), not using central financial intermediaries as brokers, it insuring against risks and earning interest. But anyway DeFi however also has the downside, as some of its applications are subject to high risk and have high interest rates!
That said, DeFi had just in 2020, more than tenfold growth!
To me seem that its results are decisively evident.

 

[Binita100]

Well, DeFi (Decentralized Finance), not using central financial intermediaries as brokers, it insuring against risks and earning interest. But anyway DeFi however also has the downside, as some of its applications are subject to high risk and have high interest rates!
That said, DeFi had just in 2020, more than tenfold growth!
To me seem that its results are decisively evident.

Some of the defi project are really high risk , my friend invested on a coin to earn interest and it dropped from $30 to $0.50 , it wasn't just easy