The cryptocurrency market today is in a very interesting situation: on the one hand, crypto has been attracting the attention of tens of millions of people, including institutional investors, for several years now. On the other hand, the industry is just beginning to take shape: countries are introducing legal regulation, and large investors are transferring some of their assets from the world of traditional finance to cryptocurrencies one after another. But there is no universal acceptance yet. And just such conditions, when cryptocurrency strengthens its positions, are ideal for those who want to overtake the old-timers of financial markets and get the most out of new technologies in the world of digital assets.
The most important change in cryptocurrency over the past two years has been the shift in focus toward automated financial services, or decentralized finance – DeFi. Today, to invest effectively in cryptocurrencies, you need to have an understanding of what DeFi is and how to use it. DeFi is an ecosystem of decentralized applications (DApps) that sit on top of blockchain networks (mostly the Ethereum network) and function autonomously, that is, without the involvement of any governing body. DeFi projects use open-source software and offer users a full range of financial services and products similar to traditional financial services.
In our review, you will learn what kinds of earnings there are in DeFi and how to minimize the entry threshold to this technically complex industry if you are facing it for the first time. Using LocalTrade as an example, we’ll tell you about DeFi Lab. This is a brand new infrastructure that provides seamless access to DeFi tools not only for crypto-enthusiasts, but also for a wider audience. For example, for people with no experience in cryptocurrency investing. But where do newcomers start on their journey to master DeFi?