Introduction to DeFi
Decentralized Finance (DeFi) is revolutionizing traditional banking by removing intermediaries and putting control directly in users' hands.
What is DeFi?
DeFi refers to financial services built on blockchain technology that operate without centralized institutions like banks or brokerages.
Popular DeFi Activities
- Lending and borrowing cryptocurrencies
- Yield farming to maximize returns
- Providing liquidity to decentralized exchanges
- Trading on DEXs without intermediaries
Getting Started with DeFi
With Ledger Live, you can securely access DeFi applications while keeping your private keys protected. Connect to popular DeFi platforms directly through the app.
Risks in DeFi
While DeFi offers exciting opportunities, it also comes with risks like smart contract vulnerabilities, impermanent loss, and market volatility. Start small and always do your research.