I DO NOT PARTICIPATE IN PAID REVIEWS OR PROMOTIONS. IF YOU HAVE BEEN APPROACHED BY SOMEONE ON TELEGRAM CLAIMING TO BE A PART OF THE CRYPTO TIPS TEAM, THEY ARE SCAMMERS! Twitter: https://twitter.com/blockchainchick Instagram: https://www.instagram.com/realcryptotips/ LBRY: https://lbry.tv/@Crypto-Tips:b LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW Understanding what DeFi is: https://blockonomi.com/what-is-decentralized-finance-defi/ Crypto Kitties: https://blockgeeks.com/guides/cryptokitties/ A curated list of different DeFi products: https://defiprime.com/alternative-savings DeFi stands for decentralized finance. Basically, the use of smart contracts that allow you to leverage your crypto investments to earn more money. Basically, it’s lending. You’re either going to be participating in lending out your crypto in a direct way, or you’re going to be storing your crypto in a wallet that is used to create loans for other people and you get interest. This last one is being called high yield savings accounts and they claim to offer up to 6% yearly interest, but most of these rates will vary wildly. It’s a new twist on traditional finance so don’t mind my lack of excitement on this topic. The presumed benefit here being that by utilizing cryptocurrencies and smart contracts you get the benefit of your coins remaining in your custody. But don’t let your guard down just yet, you’d be surprised just how many of these platforms require you to give them your coins. But before we get into all of that… But this particular application of smart contracts is still new, and with that comes many, many growing pains in the form of hackers taking advantage of bugs or loopholes in the code which result in them taking advantage and leeching your money into their pockets. It’s because of this fact that I don’t think we will need to worry about this mad rush on the ETH blockchain just yet. There have been plenty of hacks in the DeFi space this year alone and I’m sure, or at least I hope that this will be enough of a warning to potential DeFi users of the risks involved. I found one website that provides a quite extensive yet somewhat curated list of different DeFi platforms as well as feedback from users of those platforms. By the way, this is in no way a sponsored video, I came across this website, found it useful enough to want to share it and so I am. I will say that this site does list platforms that don’t exactly fall under the DeFi umbrella, but it’s nice to see a curated list of platforms ranging from Alternative Savings Apps and Analytics to help you compare the rates and fees of different platforms, to DEXs, Insurance and decentralized KYC solutions. Those last ones are what get me excited. Also, j ... https://www.youtube.com/watch?v=mqdD_2rX4-0

✴︎Sign Up Here for the CT Club! https://patreon.com/cryptotips ✴︎Trezor hardware wallet ? https://shop.trezor.io/?offer_id=10&aff_id=10937 ✴︎Buy Gift Cards with Your Crypto! ? https://www.bitrefill.com/signup?code=47y2uwl4 ✴︎Begin Trading with Tradingview ? https://www.tradingview.com/gopro/?share_your_love=RealCryptoTips ✴︎ Join our Public Discord Channels Here: https://discord.gg/Hseq2nkeHr ✴︎Heidi Twitter: https://twitter.com/blockchainchick ✴︎Toby Twitter: https://twitter.com/sircryptotips ✴︎TicToc: https://www.tiktok.com/@realcryptotips ✴︎Instagram: https://www.instagram.com/realcryptotips/ ✴︎LBRY: https://lbry.tv/@Crypto-Tips:b Video Suggestions for Beginners to Crypto: - When did Crypto Start?: youtu.be/rd5gv6X70ew - Why Bitcoin?: youtu.be/GVwWwWUj3NU - 3 Mistakes to Avoid When Storing Cryptos: https://www.youtube.com/watch?v=rhhu3Uh8iHE - If Your Hardware Wallet is Lost or Stolen: youtu.be/KTIDY7kYSIQ - Complete Guide to Ledger Nano X: youtu.be/PC60Ju_iMQE - Proper Introduction to Crypto Exchanges: youtube.com/watch?v=91f-QNSmzrA - 3 Things You Should Never Do on a Crypto Exchange: youtu.be/pgZP-voLGpE - 5 Things Crypto Exchanges Don't Want You to Know: youtu.be/_VcdEovm8u8 - My Recommendations for Centralized Exchanges: youtu.be/kCYj2tdYufE - My Recommendations for Decentralized Exchanges (DEX): youtu.be/AMsp3knAfBs - Calling Out Fake DEXs: youtu.be/h_cZyGqjKrs - Why is DeFi the Hottest Topic in Crypto?: youtu.be/mqdD_2rX4-0 - Without This, Crypto Won't Survive: youtu.be/Jg-zk_Nhpq0 - How To Use the Most Popular Privacy Coins: youtu.be/WLckSKzFpE8 ... https://www.youtube.com/watch?v=KfZrB5LiSi0