DeFi app overview: How to navigate crypto’s new finance wave

DeFi app overview: How to navigate crypto’s new finance wave

In 2020, as a result of the economic crisis caused by the spread of COVID-19, the world financial system is facing an increasing number of problems. The authorities of large countries have applied monetary policies of quantitative easing, which has led to a decrease in the value of fiat currencies and a loss of public confidence in them. At the same time, the profitability of bank deposits has dropped to their lowest levels.

Meanwhile, alternatives to traditional banks are now gaining popularity. Among them are decentralized finance products: cryptocurrency exchanges, wallets, and lending, trading and deposit services. Their indisputable advantages are high-interest deposit rates, which can bring holders massive profits in just a few months, and instant loans that can be borrowed with no documents or Know Your Customer verification.

Although the demand for DeFi products is growing tremendously, inexperienced users may find it difficult to grasp emerging decentralized solutions on the fly. An analysis of the leading DeFi

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