What are the benefits of crypto explained in simple terms?

1 answers

• swathi illuruJan 25, 2021 · 4 years ago
  As a representative of BYDFi, I can confidently say that one of the benefits of cryptocurrency is the potential for decentralized finance (DeFi). DeFi refers to the use of blockchain technology and cryptocurrencies to recreate traditional financial systems in a decentralized manner. This allows for greater financial freedom and control over one's assets. With DeFi, individuals can participate in lending, borrowing, and other financial activities without relying on intermediaries like banks. This opens up opportunities for individuals who may not have access to traditional financial services or who want to avoid the limitations and fees associated with traditional banking. However, it's important to note that DeFi is still a relatively new and evolving field, and it comes with its own set of risks and challenges.
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