Let's Talk Decentralized Finance (DeFi) today on CryptoTalks. 02-10-2021
Hello good people of steem. As you know it, I always love to share line money making opportunities and today I will be sharing with you something that has helped me make some money and I'll be showing you exactly how you can join and start earning as well.
First of all, what is DeFi??
DeFi stands for Decentralized Finance.
The two types of finance systems we have are.
- Centralized finance which is a financial practice that allows users to earn interest and get loans on their cryptocurrencies through centralized exchanges.
- Decentralized Finance (commonly referred to as DeFi) is a blockchain-based form of finance that does not rely on central financial intermediaries to offer traditional financial instruments, and instead utilizes smart contracts on blockchains.
Basically, there are two kinds off exchanges that exist.. Centralized exchange and Decentralized Exchanges.
A Centralized Exchange is an online Cryptocurrency platform which acts as an intermediary for users of the platform to carry out transactions.
Examples of centralized Exchange include Binance, kucoin, coinbase etc.
Decentralized Exchanges on the other hand are crypto currency exchanges that allow a direct peer to peer transaction of crypto without an intermediary. This means that transactions on Decentralized Exchanges are backed by something called Smart Contracts.
One major way through which most Cryptocurrency investors who are busy make money from this space is by STAKING your Cryptocurrency.
Stacking in simple language means promising to hold your Cryptocurrency for a specified or unspecified period of time.
There are two types of staking namely liquidity and farming.
Stacking can be done both on centralized and decentralized exchanges but those who stake on decentralized exchanges make earn more depending on the APR or APY at every given time.
If you're currently looking for a decentralized exchange to stake on and earn more without having to trade daily, I strongly recommend staking Tatcoin on tatswap.com.
To get more information about how to buy Tatcoin or to get videos on this topic, please reach out to me on WhatsApp via +237 680677859.
Hope you learnt soemthing today on this my series of CryptoTalks.
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