Decentralized Finance has so many advantages over traditional financial system. First of all, it removes the intermediaries who eat up way too much of your pie and you are basically left with nothing. It relies on Smart Contracts which are self-executing programs that follow the terms of the agreement. Banks waste a lot of time and restrict your access at various levels. With DeFi, you get full access from anywhere, anytime. Just need a smartphone & a decent internet connection. Covid-19 has shown that traditional systems are unreliable since they require physical presence between parties and controlled by the rich. With DeFi, it's going to change.
For an average Joe, getting started with DeFi might be a bit overwhelming. In this presentation, I am listing down the four most common ways to generate passive income through DeFi services. I hope you will enjoy and learn something. And if you do, please leave an upvote and a comment!!
Special thanks to Cub Finance & Leo Finance community for helping me with my learning curve. I learned so much in the past month about DeFi and how to get started with it. Hence, I thought of sharing my knowledge with everyone else who is interested.
