If you are like many people, when you think about borrowing money, loaning money, or otherwise handling your finances, you might think about doing so in a traditional way that involves traditional markets and big banks. Of course, it's still popular for people to handle their money in this way. However, you do have other options. For example, decentralized finance (which is also sometimes known as DeFi) is becoming increasingly popular.
It's Always Open
Understandably, you sometimes can't get financial matters taken care of when you want to simply because the banks aren't always open. The banks are closed at night and on the weekends, obviously, and they're often closed on holidays as well. Plus, some banking institutions are closed during regular lunch hours and employee breaks. Because of all of these things, you might not be able to handle your finances at the times that are best and most convenient for you.
You Can Enjoy a Variety of Types of Finance
If you think that your options for working with money will be minimized if you choose to stick with decentralized finance, understand that this is not the case. There are actually all different types of financial transactions that you can get involved with while sticking with decentralized finance. You can borrow money for a major purchase, loan money to others in an effort to make a profit from interest, make investments, trade, and more. Basically, no matter what you're interested in doing financially, there is a good chance that there's an option for you in the decentralized finance world.
You Don't Have to Trust Banks
IT could be that you had a bad experience with banks in the past, or you might just not trust big banks with your money. With decentralized finance, you can enjoy a much more transparent financial experience, and you will be the one to hold your money, rather than a bank. Therefore, you might find that you feel a lot more confident and comfortable with this financial option.
You Can Reduce Your Expenses
Trading, borrowing, and more can come with hefty expenses when you work with big banks. Luckily, with decentralized finance, there are fewer costs for you to worry about. Therefore, you may find that you can save money or make more money, depending on what you are doing.
It's important to make proper decisions with your funds. To learn more, contact a company that offers decentralized finance lending.