Traditional finance models are based on the control of financial transactions by central authorities. The transaction is processed by an intermediary, such as a bank, which has no involvement in the DeFi development service. DeFi is personal finance for and by people.
Here are some of the benefits, DeFi offer over the traditional payments. DeFi is accessible to everyone. All you need is an internet connection. The primary goal is to move your money out of the present system and onto cryptocurrency.
It is now feasible with the help of payment gateways. Autonomy: Because every node has a full blockchain copy for transaction validation, the Ethereum network is resistant to a shutdown. The tamper-proof and exceedingly difficult-to-modify nature of Ethereum also makes it tamper-proof.
Unlike traditional banking, DeFi operates on an open financial paradigm. Every transaction is recorded on the blockchain and is subject to community verification. Asymmetrical information is less likely due to DeFi’s transparency.
Participating in DeFi allows you to participate in worldwide transactions. DeFi’s assets are available in the form of tokens that may be traded and divided. You can own any percentage of any asset, property, or anything with DeFi development services.
This is why DeFi will usher in a revolution, and the industry that most needs it is undoubtedly ecommerce. Some platforms (Atpay and others) are already working on it as they develop DeFi ecommerce solutions, and these solutions benefit greatly from DeFi and the blockchain itself.
Lots of benefits DeFi offers one of which is the maxing opportunities that comes from staking an example is the DVDX pool on Unifarm with 36% APY.
Agree to all your points.
2 additional ones:
1) You learn a lot dipping into DeFi. You learn about tokenomics, how lending and borrowing works, what a collateral is, you learn about inflation and a whole lot of other useful things you will also find in traditional finance.
2) DeFi protocols are not a black-box like many traditional financial products. They are based on code, executed very fast by computers and anyone can check the code. Big, big plus.
DeFi will roll over traditional finance like an avalanche in the upcoming years.
DeFi offers lots of benefits and it’s completely your choice to choose which suits you well.
Spool for instance allows users create a diversified yield farming portfolio.
And due to the recent rise in hacks, it’ll be an amazing way to cut losses
There’s a lot dude specially if you’re eyeing on the right crypto defi projects.. Just like with Unicred, they offers higher LTVS and better returns, integrates MFTs into lending, and many more
Have you heard about Unido, it’s a DeFi platform that will be launching in coming weeks. Unido offers a suite of crypto custody solutions for enterprises and institutions based on a state-of-the-art fragmented private key signing engine, allowing distributed transaction signing at the blockchain level and providing a corporate governance framework over crypto ownership.
There are several benefits that come with DeFI, ranging from lending, yielding, staking, and lots more. Due to the present market conditions, I stick with staking for passive income and the APYs have been mouth-watering due to the pools Govworld made available from the ongoing Govworld staking pools. If not for DeFi and projects that made these possible, I don’t think these features would have been possible.
Defi benefit is limitless, staking, LM, lending and whole lot. I will be staking my UDO in Unido in app staking once that launch and I already have some stables staked already. Defi offers me passive income always
I really LOVE DeFi’s huge development. This is going to bring so much to the crypto community. My current favorite team is actually the one you mentioned, Atpay. They are so devoted to the development of one unique concept – blockchain BNPL. I can stay here all day talking about its benefits, but let’s make this short. There are plenty of them. Believe me.