What is DeFi?

Decentralized finance (DeFi) is a fintech solution that uses a distributed ledger to let financial transactions happen without requiring centralized financial institutions like banks and finance corporations. All transactions are recorded on a public and immutable ledger, removing the need to pay such institutions a service fee for each transaction.
You simply need a phone and an internet connection, and you can borrow, save, lend, or swap cryptocurrencies without KYC, resulting in greater convenience, better integration, and higher transparency, which are some of the well-known advantages of DeFi.
The growth of DeFi protocols has also made it easier for a number of new crypto companies to start up. Demand has increased significantly, and it is predicted that the industry will grow from $11.78 billion in 2021 to $231.19 billion by 2030, an increase of nearly 20 times.

DeFi is like the wild west of finance! No banks, no fees, just you and your crypto horse galloping towards the sunset. Just remember, when the sheriff (a.k.a. regulations) comes to town, don’t forget to wear your digital spurs! 🤠💰