What is DeFi actually used for?

DeFi, short for Decentralized Finance, represents a revolutionary paradigm shift in the financial landscape. It harnesses the power of blockchain technology to empower individuals to participate in financial activities directly, bypassing traditional intermediaries.

This decentralized approach to finance allows users to engage in a range of financial transactions, including borrowing, lending, trading, and investing, all within a secure and transparent environment. The absence of intermediaries streamlines processes, leading to faster and more efficient transactions.

One of the key benefits of DeFi is its cost-effectiveness. By eliminating the need for intermediaries, fees associated with financial transactions are significantly reduced, making DeFi an attractive option for those seeking to save money on financial services.

BTCC's services include spot trading, allowing users to buy and sell cryptocurrencies at current market prices. Additionally, it offers futures trading, enabling users to speculate on the future price movements of cryptocurrencies. For those seeking secure storage solutions, BTCC provides a reliable wallet service.

Furthermore, DeFi fosters greater transparency and accountability. Since all transactions are recorded on the blockchain, they are immutable and can be easily traced, reducing the risk of fraud and manipulation.