DeFi (Decentralized Finance) is an emerging technology, and it has a quite number of ways that make it beneficial to the people in the Cryptocurrency world. Earnity is a decentralized finance (DeFi) firm that will soon launch a marketplace for tokens, and it also offers users a lot of benefits. Below are some of how you can benefit from Decentralized Finance and using the Earnity platform:
Quick and permanent access
Before DeFi, if you need to get a loan, you would have to go to the bank, and it would often take a lot of time. Now with DeFi, you can get a loan with just one click, even in the middle of the night, just one of the benefits of using Dan Schatt and Domenic Carosa’s Earnity platform.
You can access the market from anywhere and anytime as long as you have an internet connection.
A healthier system
Covid-19 has shown that traditional financial systems (CeFi) are very vulnerable to global shocks. This vulnerability is because centralized financial systems rely on direct contact between individuals. COVID-19 caused an economic shock three times worse than the 2008 financial crisis.
The level of physical contact required to support decentralized financial systems (DeFi) could drop to zero, and cryptocurrency prices and companies have gotten stronger and stronger in the current health crisis.
Operations without authorization
Among the advantages and disadvantages of DeFi are authorization-less operations.
In the traditional financial system, you need to get permission from an intermediary to execute almost all financial transactions. To withdraw a penny from your account, you have to wait for the bank’s approval, while DeFi users can interact with financial services without needing permission. One could imagine a wide range of services in the DeFi space, not all of which could fit into this discussion.