Hello and Namaste Friends

This is my submission for My Favorite Cryptocurrency challenge announced by @steemitblog

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In my opinion crypto is one of the growing as to date and there is a lot of development and innovations that are bringing cool and interesting things like Defi and much more. Everyone who is working in crypto is not a pro but the best thing is that people spend time learning and increase their knowledge. In fact, I can say that every day is learning on crypto, and in my crypto journey of 18 months, I have been learning every day.

Earlier people used to ask which coin is good but now people ask which DeFi project is more trustable and offers high returns so things are changing for sure.

What is DeFi

DeFi is Decentralized Finance and undoubtedly its the hottest topic in the crypto world presently and it's because of huge returns that people have got is quite less time. I see that with DeFi the way we invest will change and it will bring a new type of investment format and traditional investment will lose its charm.

I got to know about DeFi, 2 months back and have been studying about it through various posts and videos. These days people want to get transparency on what they do and since this decentralized and open source so one can easily check all the details whenever required. Banks are reducing the interest and that is a big reason for many to make a switch. Now investors want to have high returns and they are ready to take some risk as well and because of different schedules they want things to available round the clock. This is not possible in traditional investment but with crypto it's possible and it works 24x7 and 365 days.

Did I ever buy any DeFi tokens?

I have not bought any DeFi token as of now but based on the study and research SUN token seem to a good one and I have the plan to have it soon in my portfolio. Why I have chosen SUN token is because of some reasons-

• Sun token is on Tron Blockchain and not dependent on Ethereum so I won't have to pay a high transaction fee.
• Tron platform is not just cost-effective but also way advanced and can manage scalable volume.
• Tron is a reputed name that brings a high amount of trust and I reply on this.
• With Tron, I will save time on transaction processing and money of the fee.

I usually don't rush for investment and I take some time to go through the details first before making my decision. Now after almost 2 months of study I am almost ready to make a move with Tron soon.

What makes you excited about DeFi?

Crypto is highly volatile and many coins have given good returns in the past but with Defi concept is quite different and I can earn even without selling my native tokens. It's a passive income that I will be getting continuously without doing anything after the investment in the right project.

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I used to be a traditional investor and was investing in Gold and bank Deposits but now banks are giving good returns and gold is already quite expensive. Since I don't have a huge amount to invest so I found DeFi is the right instrument to go for and I can track all its progress whenever I want.

Which project do you think is the best DeFi application？Why?

I have gone through various projects including Maker, Compound, Kyber Network, and Tron as well. In fact, few Indian exchanges have already had Maker and COMP on their platform but I like Tron more because of reliability and trust factor.

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As I mentioned that I will not be investing huge but whatever I do, matters most to me and I want to put it in the project on which I can rely and have trust. Out of all these names, I know Tron for long. Since Sun is the product of Tron so I will go ahead with this one only as of now.

What’s the mechanism of DeFi or any DeFi project?

As far as I know about the DeFi mechanism, then its about providing liquidity to the market and then earn rewards on that. Since more people are entering the market so its a nice way to earn. If I exclude Tron then most of the DeFi projects are on Ethereum smart contract and this has given a boost to ETH price as well for the last few months.

Are you feeling positive or negative about the future of DeFi?

Although DeFi is in early-stage but still I feel positive about it. The amount of enthusiasm I can see by the people for DeFi makes me even more positive that this segment will create history in coming future. I believe that its always the best decision to enter in early-stage to grab the more benefits and advantages and that's why I want to be part of it soon.

Thanks to @steemitblog for bringing this nice challenge and @steemcurator01 @steemcurator02 are doing great work to support the people on the platform

This post is published with 100% power up

Thank you so much.

Stay Safe