What is DeFi?

DeFi is sometimes called “the crypto alternative to Wall Street”. What is it and what does the abbreviation stand for? Today we will answer the question and explore how blockchain technologies are changing our perception of financial services.

DeFi is short for “decentralised finance”. This term unites a range of services and products allowing people to make transactions with crypto assets directly from one person to another without involving any middlemen. For instance, banks.

Traditional financial institutions always have some central authority and are controlled by governments. DeFi services are completely different — they give you total control over your funds. They not only provide the full range of possibilities — lending, borrowing, earning interest, trading assets, insurance, etc — but also make them more accessible. If recap all the advantages of financial services based on blockchain technologies, they are open-to-all, transparent, fast, easy-to-use, and with low transaction fees.

DeFi takes financial services to a new level. If you decide to dive into this world, you definitely will need a secure crypto wallet to manage your funds. With a reliable NC Wallet by your side, you can do more.