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❓ASK What Do You Know About Decentralized Finance (DeFi) ?

NoLimits15

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Decentralized finance is a whole new concept of finance that is built with the help of blockchain. DeFi is created on the Ethereum blockchain and its a way to make finance much more transparent. We see governments trying to take control of currency and also manage our finances and DeFi is a way to help people freely manage their own finances through built-in applications. You can interact with DApps which are fully open-source to verify contracts or tweak any settings that work best for you. Whats is your understanding of DeFi?
 

Josemendez

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Decentralized finance is a whole new concept of finance that is built with the help of blockchain. DeFi is created on the Ethereum blockchain and its a way to make finance much more transparent. We see governments trying to take control of currency and also manage our finances and DeFi is a way to help people freely manage their own finances through built-in applications. You can interact with DApps which are fully open-source to verify contracts or tweak any settings that work best for you. Whats is your understanding of DeFi?
Have not read about it before expect now , am reading it from you .
From what your said , it appears to be a form of cryptocurrency , is this right ?
Secondly , how can one earn it ? Is it secure ?
 

Rassy011

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This is a very good development which will further strengthen crypto currency, because fiat currency is highly centralized and it's managed by the government, I think decentralized finance give users more control.
 

Josemendez

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This is a very good development which will further strengthen crypto currency, because fiat currency is highly centralized and it's managed by the government, I think decentralized finance give users more control.
Truly yes , it gives users opportunity to have control , but then , people are the ones that developed or are developing this currency , so somehow , they will still have control on it .
The difference will be that, it will be different from fiat currency in terms of control
 

Rassy011

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Truly yes , it gives users opportunity to have control , but then , people are the ones that developed or are developing this currency , so somehow , they will still have control on it .
The difference will be that, it will be different from fiat currency in terms of control
Yeah, very correct some group of people are the ones that control crypto currency but with decentralized finance I think the process is more transparent than how fiat currency is controlled.
 

Brain

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Anything that is control by government for me will be much for a country than when handled by network of people. For this one if it has great benefits then it good
 

Roysnickz

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This will no doubt be a great concept for the crypto currency. I have not heard about it before. But with the feature of it ability to give individuals control over their money, it is going to be a good one.
 

NoExit

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for me defi is my favorite project in this field - gekkoin. it is the combine of traditional financial instruments and crypto abilities
 

onlyprofits

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I have only just started reading about DEFI this week, although I have been hearing about it for a few months. Its theoretical base has a lot of future, but it still needs to release many enemies of its concept, especially the banks.
 

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I have also been using it while posting thread but never care to know much, about until recently, it is more having your bank in your finger tips, you make transactions seamlessly. I call it Crypto bank and much safer
 

onlyprofits

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There is a barrage of new systems that help to decentralize economies and this is not liked by corporations and the great powers.
I will read much more about DEFI, there is also another alternative called CEFI. I will post a thread regarding that CEFI topic
 

Wisdom01

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This is a very good development which will further strengthen crypto currency, because fiat currency is highly centralized and it's managed by the government, I think decentralized finance give users more control.
Yeah this is what most users have been planning to have and doing so makes it more good for the users ,since they are most users like annonymous and others I think
 

Kunkun

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Decentralized finance is a new innovation with the aim of keeping outside influence on ones transaction, here you are in charge of your trades
 

sh199

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Decentralized finance is a whole new concept of finance that is built with the help of blockchain. DeFi is created on the Ethereum blockchain and its a way to make finance much more transparent. We see governments trying to take control of currency and also manage our finances and DeFi is a way to help people freely manage their own finances through built-in applications. You can interact with DApps which are fully open-source to verify contracts or tweak any settings that work best for you. Whats is your understanding of DeFi?
I think DEFI is a new era of the crypto market. Which dealing continue with smart contracts. It operates independently and does not rely on any financial institute. Decentralized finance opens a new opportunity to discover a new world of crypto.
 

Wisdom01

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I think DEFI is a new era of the crypto market. Which dealing continue with smart contracts. It operates independently and does not rely on any financial institute. Decentralized finance opens a new opportunity to discover a new world of crypto.
Yeah this is true based on my research , but i heard that some defi project are scam since they aren't regulated, i don't know how true it is i think
 

sh199

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Yeah this is true based on my research , but i heard that some defi project are scam since they aren't regulated, i don't know how true it is i think
Of course. Now many projects realize that do not have a great future for their users. Their supply and demand do not regulate much. amplyfi, beer garden finance, cbdao are popular scam projects. Many bloggers and institute
alert their supporters from these kind of scammers
 

Wisdom01

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Of course. Now many projects realize that do not have a great future for their users. Their supply and demand do not regulate much. amplyfi, beer garden finance, cbdao are popular scam projects. Many bloggers and institute
alert their supporters from these kind of scammers
These is why i dont invest in them and i am always careful , so that i would not get scammed later and start regretting i think , so just be careful about them
 

GoldenLady

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As much as I like cryptocurrency, these technical terms and jargons still confuse me. I do understand decentralization, but that's the only thing.
 

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As much as I like cryptocurrency, these technical terms and jargons still confuse me. I do understand decentralization, but that's the only thing.
You keep learning about all the terms in cryptocurrency as you move on everyday because learning is continuous in this sector. Keep asking questions and you get answers.
 

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