Before I get into this post, I want to state that the amount of people in this thing just to make a quick buck really saddens me. Don’t get me wrong, I love money and I’m sure everybody reading this loves money too. It just saddens me because there’s so much more to the world of DeFi than just making a ton of money. I feel like we’re doing something truly special here.
Anyway I’m really curious as to why a lot of you are so passionate about DeFi. For me it’s cutting out the middle man and it’s privacy. Without doxxing myself, my country recently had a massive economic collapse and what the banking system here basically did is royally screwed us over and straight up stole our cash. Safe to say people were pissed and I’ve decided to get into the space of DeFi because of this. It’s impossible to trust banks here and even though DeFi isn’t always the safest, I would much prefer this.
Privacy is the second main reason why I’ve gotten into this whole DeFi crypto world, I think this is more applicable to the world of crypto as a whole more than just DeFi/dApps. I hold a lot of Monero and the fact that Polygon dropped a self-sovereign identity solution powered by zk cryptography is going to mean I hold a lot of matic too. This is going to apply to Polygon’s already robust ecosystem and it’s going to be making it a ton more private. I think this is the next step in the privacy world after monero. I work in the field of cybersecurity and anyone who works in this field will tell you, we value our damn privacy more than anything else in the world.
Obviously at the end of the day, a lambo sounds good too. Those were my reasons for getting into DeFi and I’m hoping to hear yours. Maybe there’s something I’m missing or I haven’t heard about. Have a nice days boys.
to make money. Duh! Anyone who denies that is lying.
Distrust in Institutions and Banks in general…Of course even the returns are good and I like the technological part behind it and of course the thing that they cut out the middle man!
Which country are you from? Cyprus bailout, Greek crisis etc are the reasons why I don’t keep many funds into my bank account! My keys, my money
Helping making a free system, and generating stable income that can keep up with upcoming mad inflation that is coming are my main reasons.
I came to crypto in a unique way. I’ve worked in education for years and as someone who likes to develop curriculum, I set out to get an insight into what we should be teaching students based on what their world would look like. I started with next gen tech. I became quite excited by the coming satellite cell service and the government opening up more bandwidth and spectrum sharing…IoT. Then I found Blockchain. This blew my mind. I became obsessed. I did the Gensler MIT course and became certified through Duke University. Now I simply can’t go back to education because it’s too slow to adapt and too corrupt to change. So yeah, now I’m in it to replace my income but I love the tech and I’m fascinated by the privacy but mostly I’m excited by the efficiency and giving value back to the community. I just hope that it takes several decades before becoming the oppressive controlling system that history tells it will eventually become. I plan on fully enjoying the golden years of crypto.
I am here because I found DeFi might fulfill an unfulfilled promise the current finance system give to us: “To use derivatives to build a better world”.
We are creating a general-purpose derivative which is not based on collateral and no margin call.
I think I was interested in Defi for the same reason as you but more importantly the privacy aspect. I like cryptography and it fascinates me. Monero, zcash and just recently I found a project called Venice Finance that caught my attention. They are working with zk proofs and developing bulletproofs. Incredible stuff
You’ve answered your own question. People are getting into DeFi to cut out middlemen and also for privacy… and investing wealth in the process.
Because fuck the suits
Passive income all the way ser. I’d hardly be able to imagine life without UpBots, Redlight or Strong at this point
Not so much of a utopian. I’m a software dev working mostly in the far-more boring end of the software world for the last ~5 years (ERP, CMS, CRM etc.).
I think blockchain in general, and particularly DeFi, are some of the subject areas right now with the highest reward potential for skillset & competency. Trying to become as knowledgable as I can.
I’ve honestly been buying a bunch of HBAR every month for the past 6 months, accumulated quite a bit and I’m really happy with the results, I’m not looking for fast cash & I’m not interested in putting my money in DeFi where it’s somewhat prone to getting stolen, I’d rather buy long term coins and keep them safe in my Ledger.
Seeing the recent funding the HBAR Foundation has been doing to build Dapps has gotten me very excited. We could very well see Hedera make a run this year once DeFi settles in properly and all the basic DeFi dapps are built.
Im a software engineer at a tradfi company and I can see the waste and opaqueness of our current system. Nothing seems to be real anymore in the traditional finance system (or maybe it never was to begin with) so I see no reason not to hop to the next gen of payment/value transfer rails which are far superior (though not without many caveats at the current state of things).
Crypto/defi is also a strange combination of everything I’ve ever studied or learned in my life: economics, game theory, finance, cryptography, distributed systems, etc. So it was a pretty good fit for my personality/education.
Honestly, went into it with a small amount first just to see if it’s legit or not. Ended up slowly investing almost 20% of my networth into it.
I’m probably gonna keep investing more and more since define is actually still very young and there’s a lot of room to grow.
Many projects are now starting to focus on it. Polygon alone just announced a $15 million fund focused solely on DeFi development on the Polygon ecosystem and thats only one out of many other projects and cryotos that will follow suit soon
I’m here for the money.
Any other answer is wrong
Everyone is in it for the exact same reason: to get rich.
They said i could be anything when i grow up so i got into DeFi and became a Bank (by providing liquidity)
Everything else is stacked against me through the use of ‘regulations’ for my ‘protection’ that ensure that I stay poor while the rich get richer.
This is the only legal place I can try to actually get ahead.
I like gambling
I read that the average millionaire has over seven sources of income and realized I was doing something really wrong relying on one source of income so I started buying things that generate income with the hopes that one day I could “Invest” my way out of my job – that is my dream, thus my retirementdreams moniker.
End of 2020 starting on Thanksgiving holiday when my wife took some time to go visit her kids, I finally capitulated and dug into this crypto thing and figured out how to buy some bitcoin and ethereum, and held them in a Ledger. Holding assets is kind of anathema to my goal of buying assets that generate income, so that didn’t sit right with me. So then I found out about CEFI and started there distributing some coins here and there and generating some income. Unfortunately those started drying up, so I started looking around for other options.
Then I started hearing about DEFI and really started looking into it this year. So, I mistakenly followed a bunch of influencers that seemed to be smarter than myself at all this stuff, and started buying into projects they were shilling. So far, every defi thing I bought into (except Luna and UST) since I started end of January has shit the bed! lol Luckily it was experimental amounts, so its not going to affect me in general, but I hate losing, so I’m kind of pissed at myself for doing it. But, I had to try.
So, I’m just hanging in there holding and hoping some of them come back so maybe I can ROI over time. Thankfully my real estate, dividend stocks, and CEFI lending are doing fine. I’m holding out hope that I will find some legit defi things that will generate income for me to help me get to retirement, and help me afford to live in retirement and stay ahead of inflation.
1) I’m in medicine but want to have the flexibility of choosing my work-life balance. Most men lead lives of quite desperation, don’t want that to be me.
2) I fucking love this shit.
privacy and getting the government claws off my money! Although getting rich would be cool too
I mean staking, lending, borrowing is also a part of DeFi. And why wouldn‘t you do that instead of sitting around with your bag.
I just find it easier to make money on defi than trading. Trading rekt me bad as i got into crypto. Defi also rekt me but it felt more like my cup of tea so i slowly learnt my way throug degen stuff and i got to say lately i’ve been doing fairly good. Goota take my risk up a notch now as i’ve mostly been playing with very low risk after getting rekt
I had a finance degree in college but never used it in the real world, now things appears to have come full circle for me with Defi.
With Defi, anyone can participate as if they were on “Wall Street”
I wanted to make money or rather to become financially free. At the moment, all i need is around 200.000$. This rather small amount and the APRs of DeFi allow me to cover my entire cost of living.
Financial freedom has never been this “easy”.
I’ve always been interested in getting money and I’m a nerd. I was sitting on my mom’s lap bashing keys on her Apple II and watching the endless characters scroll at age 4 and was in kids sales clubs by age 7.
Crypto and defi basically combines everything I’ve ever been passionate about in life into one.
In my case, I just like Defi because I hate banks. I mean, Defi gives way more returns than traditional finance. I don’t feel ripped of. What I do generally is investing into NFTs projects like crayon Dao or farming stablecoins in Defi protocols that gives nice APY’s.