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First steps: Basic tips for getting started investing in DeFi

DeFi is a complicated space, but with research and some patience, average investors can still get involved.
Decentralized finance (DeFi) protocols have diversified investment opportunities in the crypto industry by facilitating novel and innovative passive income generation schemes.Delving a bit into how they work, DeFi systems are based on blockchain technology and run on programmable chains such as the BNB Chain and the Ethereum Network.The chains use decentralized peer-to-peer (P2P) finance architectures to cut out the middleman and enable lending, borrowing and liquidity provision. This leads to higher interest rates compared to those provided by regulated financial institutions such as banks. For perspective, many regulated banks provide interest rates of less than one percent per year, while some DeFi platforms offer interest rates of over 20% per year.Investing in DeFi provides numerous benefits. Yubo Ruan, CEO and f

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We współpracy z: https://cointelegraph.com/news/first-steps-basic-tips-for-getting-started-investing-in-defi

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