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