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Different Ways To Earn In Decentralized Finance (DeFi)

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  • Table of contents

  • Introduction

  • What is decentralized Finance?

  • Different Ways to Earn From Decentralized Finance

  • Benefits of decentralized finance

  • Conclusion

Introduction

Revolution of finance has done more good than harm because one will have no excuse not to partake in the different streams of earning it provides which doesn’t happen in a centralized system.

Previously finance were been operated by a central body known as central banks, they control the circulation of funds and hence they can do whatever they like but in a decentralized system, groups of people are responsible for managing their own finance, they have the authority to control it by themselves and the security of finance is better than that of centralized system.

What is decentralized finance (DeFi)

Decentralize finance is a system of finance whereby there is no central controlling agency for regulating finances such as the central bank. It is built on block chain technology with its finance known as crypto currency. The benefit of decentralized finance system presents advantage to earn at comfort.

Different Ways to Earn From Decentralized Finance

The following are ways to earn in a decentralized finance system.

Investment

Through investing in crypto asset which is part of the decentralize finance system, you can earn more. For instance long time ago in 2010, I was informed of bitcoin investment, then bitcoin worth lesser than what it is today but I showed lack of interest due to low knowledge about it. But right now bitcoin worth’s over $16,000 and above. If I had invested in it then, I should be making huge profit now.

Source

Decentralized finance system offers the opportunity to earn upon investment.

Trading

This point is similar to the first point stated above but the difference is clear. There are two types of trading; which are short term and long term trading. Using popular exchange such as Binance gives you the opportunity to earn on short term trading if you are good in crypto analysis. This is one of the benefit a decentralized system of finance presents.

Source

Staking

Decentralized finance offers the opportunity to stake your asset which will give you profit or returns after a period of time. Then you can decide to unstake at any point in time with your profit attached. Such kind of an opportunity cannot be found in a centralized system.

Exploring your skills

Decentralized finance system provides the opportunity for its users to explore their skills and build up portfolios. I am a statistical analyst; I analyze crypto currency prices. I aim to explore wider into the world of data science especially on technical analysis of crypto currency prices.

Promotion

Some block chains offers the opportunity to earn their asset through promotion of social post as regards. This is a good way to earn from decentralized finance system.

Benefits of decentralized finance

  • Digital assets are secured
  • Less theft or hacking. It uses encryption to store users keys.
  • No third party involved.

Conclusion

Decentralized finance is the future finance because everyone can earn from it. As long as you have a mobile device with good internet connection, you have no reason not to partake in the advantage it offers.

Posted Using LeoFinance Beta