What is DeFi?
DeFi, short for Decentralized Finance, refers to a set of financial services and applications built on blockchain technology. It aims to recreate traditional financial systems, such as banking and trading, using decentralized networks. In simpler terms, DeFi allows you to lend, borrow, trade, and earn interest on cryptocurrencies without relying on traditional intermediaries like banks. It's like traditional finance, but with increased accessibility and transparency through blockchain. However, it's important to note that DeFi investments come with risks, so thorough research is crucial before getting involved.
