HOW TO EMPLOY DEFI, WHAT CAN DEFI DO?

Today we are discussing some of the ways people are employing DeFi in their everyday lives. If you aren’t yet involved in DeFi banking, pray about it, and as long as you have peace, jump on in! Do yourself a favor and re-read the posts about DeFi that we did 2 months ago. I linked them in yesterday’s post.

SAVE: We discussed this before in our previous DeFi posts but it bears repeating again. You can get much higher rates of interest using DeFi banks than you would in traditional banks. I’ve done it and it works! (I am not a financial advisor, I am not a licensed stockbroker, so please do your due diligence and conduct proper research).

LOANS: You can borrow too, and without filling out endless paperwork and going through credit checks. A quick flash loan comes to you quickly and easily.

As with all crypto, DeFi is global with overhead costs eliminated. This all lives online, so there’s no rent to pay for fancy office buildings to house the staff, there are no salaries to pay, no utility bills or other things that can cause you to be paying back waaaay more than you should on your regular bank loans. I know the banks have their bills to pay but shucks, this is ridiculous! (And another thing that is ridiculous is the fees some of these banks charge, and it’s legal to charge these high fees!) 🤨

LEND: Yes, you can be the lender and not the borrower! When you lend your crypto out you are gaining interest by the minute, rather than by the month.

TRADE: You can trade crypto in the financial markets but that’s not what I’m talking about here. With DeFi you can engage in what is known as peer-to-peer lending. This is totally outside of the traditional banking infrastructure. With blockchain technology the borrower and the lender create a loan agreement without the usual middle man (traditional banks) to execute a smart contract!

DeFi financing isn’t going anywhere fam, it’s here to stay! Vistra dot com says about DeFi: “This relatively new approach to blockchain-powered finance, which bypasses traditional intermediaries, has seen locked-up assets grow from less than $1 billion in 2019 to more than $100 billion just two years later, attracting at least one million investors in the process.”

Listen! This market is expected to grow to $800 billion this year! This is the most explosive period of history we have ever been in, and we’re going to ride it out in Jesus name!

We’ll chat more tomorrow!

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.