Without the need to go via a conventional financial institution, DeFi makes it simpler for people to get financial services. For those who are underbanked or unbanked, this may be extremely advantageous.
2
Transparency
Blockchain technology, on which DeFi is founded, offers transparency and traceability. Users are able to track where and how their money is being spent as a result.
3
Interoperability
DeFi is interoperable, which means that different platforms and applications can work together seamlessly.
4
Yield Farming
By supplying liquidity to DeFi protocols, yield farming is a new way to earn incentives. This may be a successful strategy for creating passive income.
5
Invention
Since DeFi is still in its early stages, there is a tonne of space for fresh thinking and innovation.
6
Decentralization
DeFi is a decentralised system, which implies that no single entity is in charge of running it. This increases its resistance to hacking and other threats.
7
Programmability
Because DeFi is programmable, programmers can construct smart contracts that streamline transactions and do away with middlemen.
8
Lower Fees
Compared to conventional financial services, DeFi transactions often have lower fees, which can help customers save money.
9
Quick Transactions
DeFi transactions typically happen more swiftly than conventional banking transactions, allowing users to access their money more immediately.
10
Global Access
No matter where a person is on the globe, DeFi is available to them as long as they have an internet connection. This could make it easier for people to access financial services and close the wealth divide.