Decentralized Finance, generally known as DeFi, is a fast-growing movement in the world of cryptocurrencies and blockchain technology. It represents a set of financial services and applications built on decentralized networks, primarily utilizing smart contracts on blockchain platforms like Ethereum. It means there is no single central authority or intermediary controlling the system. Through decentralised finance, you can earn money also on your crypto. In this article, I am gonna write about how you can earn money through DeFi crypto and which is the best platform.
How to make money through DeFi?
Before proceeding further, it is also important to know that DeFi Crypto is evolving rapidly and risks are also associated with this. Therefore, do proper research before indulging in to decentralised finance. On the other hand, through DeFi Crypto, you can earn a good passive income. Either you can lend your cryptocurrencies to others through a platform; or can borrow using your crypto assets as collateral. When you lend your crypto to others, you can earn good interest on your crypto assets.
Which is the best platform for Decentralised finance?
Well, there are a lot of Defi platforms and crypto exchanges offering Defi services. However, different DeFi platforms excel in various aspects, therefore, while choosing a platform factors like security, user experience, supported assets, fees, liquidity, and overall reputation should be considered. On the basis of my personal experience and research; I have found that the ByBit Exchange is one of the most trusted and viable options for Defi. Hence I would recommend choosing ByBit because of its features and simple user experience. You can join Bybit by clicking here.
Why is the ByBit best for Decentralised finance?
Why I am putting weight on the ByBit exchange for DeFi crypto? Why I am not talking about any other change? Well, the following are the reasons.
- It offers the best APR
- Optimized risk and return
- No min investment limit to enter DeFi
- Principal protected investment