Decentralized Exchanges
Blockchain Games
DeFi Apps
  • Dapps
    • Decentralized Exchanges
    • DeFi Apps
    • Blockchain Games
    • Gambling Dapps
      • List of Gambling Dapps
  • Guides
  • Cryptocurrency Exchanges
    • Decentralized Exchanges
      • Uniswap
      • 1inch
      • SushiSwap
      • Balancer
      • Matcha
      • dYdX
      • KyberSwap
      • PancakeSwap
      • QuickSwap
      • Raydium
      • OpenOcean
      • Binance DEX
      • TronTrade
      • JustSwap
      • Bisq
    • Centralized Exchanges
      • Binance
      • Binance Futures
      • BitMEX
      • Poloniex
      • Kraken
      • Bybit
      • Changelly PRO
  • Cryptocurrency Wallets
    • MetaMask
    • Ledger Nano X
    • Ledger Nano X vs S Plus
    • Trust Wallet
    • Coinbase Wallet
    • Trezor Model T
  • Marketplaces
    • OpenSea
    • Rarible
No Result
View All Result
No Result
View All Result
Home Dapps DeFi Apps

What is DeFi? The Best Decentralized Finance (DeFi) Apps

A beginner's guide to DeFi

Suleyman Kaya by Suleyman Kaya
Last updated: December 28, 2020
in DeFi Apps
0
DeFi apps
Share on FacebookShare on TwitterShare on Reddit

What is DeFi?

DeFi is an abbreviation for decentralized finance which is one of the categories of dapps (decentralized applications).

DeFi usually consists of dapps related to cryptocurrency lending, trading and stablecoins. According to the data provided by State of the DApps, DeFi is one of the most active dapp categories.

In terms of transaction volume, DeFi apps are the leading decentralized applications in the ecosystem along with gambling dapps.

DeFi applications involve smart contracts that allow people to use the apps without trusting third parties. Smart contracts can be verified by the users and are usually audited by different developers before going live.

Anyone around the world, regardless of his or her residence, citizenship etc. can use DeFi apps and access various financial services.

In short, DeFi is a new growing space in the crypto which revolutionizes the traditional finance with decentralized, transparent, efficient and open financial services.

The best DeFi apps – Decentralized finance applications

DeFi applications might be seen as complex at first, though they are at backend, it is usually very easy to use DeFi apps thanks to user-friendly interfaces and straightforward guides.

Cryptocurrency lending apps and decentralized exchanges are currently the most popular DeFi apps. Users can lend and borrow cryptocurrencies and enjoy spot and margin trading while they are in control of their funds.

Compound, dYdX, Uniswap and 1inch can be given as examples to the most popular DeFi apps today, which you can check out on sites that track dapps such as DappRadar.

To learn how to use these dapps, check out the reviews below:

Compound Finance review & tutorial

Compound Finance Review: Lending & COMP Token Explained

December 12, 2020

dYdX Exchange Review: dYdX Fees, Lending & Trading

January 28, 2021
Uniswap Review & A beginner's guide to Uniswap

Uniswap Review: Fees, UNI Token & Removing Liquidity

January 27, 2022

1inch Exchange Review: Fees & How to Use 1inch Exchange?

January 31, 2021
Can you short crypto on Binance?

Can You Short Crypto on Binance?

August 5, 2022
Best wallets for PancakeSwap

Best Wallets for PancakeSwap | Secure Wallets

August 3, 2022

How to use DeFi apps?

Choosing a cryptocurrency wallet to interact with dapps

To start using DeFi apps, you need a safe cryptocurrency wallet that allows you to interact with dapps on your browser or mobile device.

Some of the most popular cryptocurrency wallets for accessing Ethereum-based dapps are MetaMask, Ledger Nano X and mobile wallets like Coinbase Wallet and Trust Wallet.

Most people use dapps with their MetaMask wallet. If you have a hardware wallet like Ledger Nano X, you can connect it to MetaMask and use dapps in a much safer way.

If you will use DeFi apps with large amounts of cryptocurrencies in your wallet, it better be a hardware wallet.

Ledger hardware wallets isolate private keys in a secure chip, so there will be no possibility of exposure of private keys to the internet.

You can also use Trezor hardware wallets. But Ledger is supported by more dapps and safer with its secure chip.

By using dapps with a hardware wallet like Ledger, you can be sure about the security of your cryptocurrencies anytime.

Other cryptocurrency wallets like MetaMask are also quite safe and suitable for most users, but such ”software wallets” are usually not recommended for storing large amount of cryptocurrencies.

Before getting a cryptocurrency wallet to interact with DeFi apps and other dapps, you can check out the guides below:

Ledger Nano X Review: Supported Coins, Nano X vs S & Price

January 18, 2022
Best cryptocurrency wallets for traders and dapp users, Ethereum, EOS and TRON wallets

The 6 Best Cryptocurrency Wallets for Using Dapps

January 7, 2021
Coinbase Wallet DApp browser

Coinbase Wallet Review: Collectibles, Dapp Browser & Guide

December 13, 2020

Trust Wallet Review: Fees, Staking & Supported Coins

December 16, 2020
Can you short crypto on Binance?

Can You Short Crypto on Binance?

August 5, 2022
Best wallets for PancakeSwap

Best Wallets for PancakeSwap | Secure Wallets

August 3, 2022

Which DeFi apps to use?

If you are new to DeFi and don’t know how to get started, you can try using decentralized exchanges like Uniswap which are quite easy to use once you learn the basics.

Cryptocurrency lending apps such as Compound Finance and Aave and decentralized exchanges like dYdX are not suitable for beginners and involve various risks.

To learn how to make money with dapps and have an overview of the general decentralized application market, you can read this article.

You can get started by making a trade on Uniswap or 1inch. Check out the reviews below to learn how to use Uniswap and 1inch:

1inch Exchange Review: Fees & How to Use 1inch Exchange?

January 31, 2021
Uniswap Review & A beginner's guide to Uniswap

Uniswap Review: Fees, UNI Token & Removing Liquidity

January 27, 2022
Can you short crypto on Binance?

Can You Short Crypto on Binance?

August 5, 2022
Best wallets for PancakeSwap

Best Wallets for PancakeSwap | Secure Wallets

August 3, 2022
How to buy PancakeSwap

How to Buy PancakeSwap | Easy & Cheap Ways

July 31, 2022
How to use OpenSea with Polygon

How to Use OpenSea with Polygon

July 29, 2022
ShareTweetShareShareShareSend
Follow us on Facebook, Twitter and Instagram for new guides and reviews on dapps, cryptocurrency exchanges and wallets.
Subscribe
Notify of
guest
Not required
guest
Not required
0 Comments
Inline Feedbacks
View all comments

Follow Dappgrid on Social Media

Guides & Reviews

Binance Futures Tutorial: Trading, Calculator & Fees Explained

October 4, 2021
MetaMask tutorial: How to use MetaMask?

MetaMask Tutorial 2022: How to Set Up & Use MetaMask

January 3, 2021

Ledger Nano X Review: Supported Coins, Nano X vs S & Price

January 18, 2022
How to long on Binance? Longing on Binance

How to Long on Binance & How to Long Bitcoin

September 2, 2021

How to Short on Binance, Shorting Bitcoin on Binance

April 2, 2022
How to deposit USD, EUR & GBP to Kraken

How to Deposit USD, EUR and GBP to Kraken

May 22, 2022
Binance referral ID

Binance Referral Code 2022 (45% Fee Discount) Spot & Futures

July 26, 2022
Binance Futures referral code

Binance Futures Referral Code, Binance Futures Referral ID

September 24, 2021
How to use Uniswap on Polygon

How to Use Uniswap on Polygon

May 2, 2022
How to use PancakeSwap with MetaMask?

How to Use PancakeSwap with MetaMask? Trading & Staking

August 21, 2021

PLAN - PRICE

Description

text

text

text

text

READ MORE
BUY NOW

Binance

125x Leverage

Spot & Futures Trading

20% Fee Discount

FULL TUTORIAL
REGISTER ▶

BitMEX


100x Leverage

Fee Rate M/T:

-0.01% / 0.05%

10% Fee Discount

FULL TUTORIAL
REGISTER ▶

Categories

Decentralized Exchanges

DeFi Apps

Guides

Cryptocurrency Exchanges

Cryptocurrency Wallets

Decentralized Exchanges

List of Decentralized Exchanges

Uniswap Review

SushiSwap Review

1inch Exchange Review

dYdX Exchange Review

Reviews

Compound Finance Review

Aave Review

MetaMask Review & Tutorial

Ledger Nano X Review

Trust Wallet Review

Tutorials

Binance Tutorial

How to Trade on Binance Futures

How to Trade on BitMEX

How to Reduce Binance Fees

How to Open a Binance Account

Dappgrid

© 2022 Dappgrid    About    Privacy Policy   Terms and Conditions   Contact

No Result
View All Result
  • Dapps
    • Decentralized Exchanges
    • DeFi Apps
    • Blockchain Games
    • Gambling Dapps
  • Guides
  • Cryptocurrency Exchanges
    • Decentralized Exchanges
      • Uniswap
      • 1inch
      • Balancer
      • SushiSwap
      • Matcha
      • dYdX
      • KyberSwap
      • PancakeSwap
      • QuickSwap
      • Raydium
      • OpenOcean
      • Binance DEX
      • TronTrade
      • JustSwap
      • Bisq
    • Centralized Exchanges
      • Binance
      • Binance Futures
      • BitMEX
      • Poloniex
      • Kraken
      • Bybit
      • Changelly PRO
  • Cryptocurrency Wallets
    • MetaMask
    • Ledger Nano X
    • Ledger Nano X vs S Plus
    • Trust Wallet
    • Coinbase Wallet
    • Trezor Model T
    • Cryptocurrency Wallets for Dapp Users
  • Marketplaces
    • OpenSea
    • Rarible
  • Lists
    • Decentralized Exchanges
    • Gambling Dapps
    • DeFi Apps
    • Blockchain Games
  • Calculators
    • Binance Fee Calculator
    • Binance Futures Calculator
    • FTX Fee Calculator
    • Kraken Fee Calculator
    • Uniswap Fee Calculator

© 2022 Dappgrid

wpDiscuz
Dappgrid.com uses cookies to improve your experience. Learn more