Some major problems are caused by the traditional banking system, which at the very least does not appear to be trying to solve them.
Transaction costs on traditional financial systems can be hefty, and a significant percentage of the population remains either unbanked or underbanked. Transactions take too long, especially with our family and friends who need them the most.
Not to mention how vulnerable individuals can become if bank workers obstruct their funds for whatever reason. We believe finance should be permissionless.
Unfortunately, that's what happens when a single party is controlling all of these activities. We can't tell for sure whether we will have access to our own funds in the future. This ambiguity and uncertainty is why people are looking for banking substitutes.
We have an extremely unsteady global economy. Luckily, Defiqa represents the next step in the financial system with its completely decentralized banking structure.
What is Defiqa?
Defiqa is a groundbreaking decentralized finance platform that incorporates various financial strategic activities on the technology behind most cryptocurrencies, the blockchain.
That alone separates financial platforms from banks, allowing you to manage your own money, pay quicker, and have better cybersecurity. The whole Defiqa community operates its network, making all users essential to the platform.
Besides, the platform does not ask you to create an account with your entire data profile. Whatever you do is encrypted. No one knows your name, location, or any other identifying information and instead see you as a string of numbers and letters: your public address. That is why your deposits are so secure.
What does Defiqa offer?
Even though Defiqa is new to the business, many people were astonished by its broad range of financial services, which support crypto usability. Some of them are:
These are somewhat similar to banking loans, but they do not involve third parties. Therefore lending is much smoother and operations are conducted as soon as possible with no centralized verification system.
Yield farming is one of the most exciting models that can lead to substantial passive profits.
It's an easy concept. You lend cryptocurrency to a pool and earn interest based on the trading volume. On top of that interest, you are rewarded with the platform’s token for supporting it.
Non-fungible tokens (NFTs) are unique tokens that can never be replicated as they are based on the blockchain. While there can be hundreds of similar tokens, these are unique and limited to a specific amount.
Vaults allow token holders to deposit their funds and earn passive income from them by lending them out to other cryptocurrency users who wish to take out a loan without losing their position in a specific cryptoasset.
The decentralized finance space has been booming over the last few months thanks to the abundance of high-quality projects based on it. Don't miss this opportunity and join the revolution. To get a good start, join DFI token’s ICO.
This is a sponsored story. Its content does not constitute financial advice. Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice.