What Benefits Do You Get From DeFi?
💵DeFi or Decentralize Finance defines as various blockchain-powered applications that create peer-to-peer alternatives to traditional financial services and institutions.
📌Here are some benefits of DeFi:
☑DeFi is permissionless and inclusive. Anyone with a crypto wallet and an internet connection, regardless of where they are, can access DeFi services. Users can also make trades and move their assets wherever they want without waiting for bank transfers or paying conventional bank fees.
☑Transactions are in real-time. The underlying blockchain is updated once a transaction is complete, and interest rates are updated multiple times every minute.
☑Transactions are transparent. Every transaction on the Ethereum blockchain is broadcast to and verified by other users on the network.
☑Users can retain custody of their assets using non-custodial crypto wallets or smart contract-based escrow.
☑Smart contracts are highly programmable and can be designed to execute automatically based on an infinite number of variables.
☑DeFi data is tamper-proof, secure, and auditable, thanks to blockchain architecture.
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