What Is DeFi? 🤔 A Simple Explanation of Decentralized Finance

You might be searching the web trying to figure out "What is Defi?". Well, in this video we cover exactly what defi (or decentralized finance) is and cover 5 main pillars holding it up, including examples to help illustrate our points.

1) Stablecoins
2) Lending and Borrowing
3) Decentralized Exchanges
4) Insurance
5) Margin Trading


Join WhiteboardCrypto Club to claim your $20 ETH bonus, unique NFT, and have immediate access to our private community, private videos, and my portfolio: https://whiteboardcrypto.com/whiteboardcrypto-club/

Or join our newsletter for free to get access to our discord and free DeFi Guide: https://whiteboardcrypto.com

Support the channel by checking these crypto/DeFi tools out:
Unstoppable Domains - all-in-one crypto wallet: https://unstoppabledomains.com/?ref=cba817a046e94e7
Brave - privacy-based web browser that pays you crypto: https://brave.com/YSU799

My favorite crypto exchanges
Best for Beginners
Coinbase: https://coinbase-consumer.sjv.io/WhiteboardCrypto

Best for Traders
Binance (US): https://accounts.binance.us/en/register?ref=53943019
Binance (non US): https://accounts.binance.com/en/register?ref=RDBHDMLN

Lowest Fees
FTX (US): https://ftx.us/home/#a=whiteboardcrypto
FTX (non US): https://ftx.com/referrals#a=74365468

Most Coins and not KYC
Kucoin: https://www.kucoin.com/r/r3LFPSY

Useful Trading Bots
Pionex: https://www.pionex.com/en-US/sign/ref/yzFsnjAL

Explore More Whiteboard Crypto:
Twitter: @whiteboardCryp1
Facebook: @whiteboardcrypto
Instagram: @whiteboardcryptoteam