How can decentralized finance be used?
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How can decentralized finance be used? They say that they have a place in any order of life, but I somehow can’t imagine it)) Explain to me, using at least one area of life as an example, how it works and what are the benefits?
Of course, developers and enthusiasts have already proposed quite a few options for using decentralized finance. First of all, of course, in the field of banking services. Well, let’s imagine the familiar lending – now there are a lot of restrictions, requirements for the level of wages, guarantors, a bunch of certificates that need to be obtained, make these services inaccessible to a whole category of people. DeFi https://www.chilediscover.com/best-defi-projects-2022.html should solve this problem. Moreover, without intermediaries, lending should be cheaper and more trustworthy. Instant deals, transparency and security are what is lacking in this area.
People can use DeFi platforms to lend or borrow money from others, speculate on price fluctuations in a variety of assets using derivatives, trade cryptocurrencies, insure against vulnerabilities, and earn interest in savings accounts.