What can you swap, lend-borrow, and farm using Defi System?

What can you swap, lend-borrow, and farm using Defi System?

Avatar of Shabnam Dhar

There are several types of cryptocurrencies available as wrapped cryptocurrencies that include Bitcoin (BTC) and Tether (USDT). Even Ethereum has a wrapped Ether, and other wrapped cryptocurrencies are Litecoin (LTC),  TRON (TRX), and Dogecoin (DOGE). 

Bitcoin (BTC) 

Bitcoin (BTC) is a digital currency that functions on a decentralized concept which means there is no authoritative body to control its price. Only all global Bitcoin users can control it. Bitcoins allow buyers and sellers to execute transactions safely and securely. Although users get transparency in Bitcoin transactions, their entire financial details remain confidential. 

Ethereum (ETH) 

Ether is the native cryptocurrency in the decentralized and open-source Ethereum blockchain. Just like other cryptocurrencies, users can buy and sell Ether as a digital currency on exchanges. It acts as a transactional token to support operations on the Ethereum network. Ethereum blockchain deploys smart contracts and decentralized apps (dApps) to protect from any dishonest activity. 

Tether (USDT) 

Tether (USDT) is a blockchain-based cryptocurrency backed by the fiat currency ‘U.S. dollar’. It has a 1:1 relationship with USD which means it is equivalent to USD. It is a type of stable coin introduced with the intent to keep the price of cryptocurrency stable during the extreme volatility in the market. 

Litecoin (LTC) 

Litecoin is a decentralized cryptocurrency similar to Bitcoin. It was introduced in the crypto market with the intent to support transacting instant and near-zero cost payments by eliminating a bank or any other third party. It is a fork of Bitcoin improved with an increased number of coins and faster block generation time. 

Tron (TRX) 

Tronix (TRX) is the native cryptocurrency of an advanced decentralized and open-source blockchain-based operating system called TRON. It is similar to Ethereum that implements decentralized applications (dApps), smart contracts, and tokens to ensure security. The objective of TRON is to facilitate a global entertainment system where users can share digital content cost-effectively. 

Dogecoin (DOGE)  

Dogecoin (DOGE) is an open-source cryptocurrency that runs on a distributed and decentralized blockchain technology. It facilitates quick transactions and stores all transactions securely. This cryptocurrency is a fork of Litecoin. Dogecoin originated as a joke cryptocurrency for crypto enthusiasts, deriving its name from the internet meme “doge”.

Features of the Defi System

Utmost Security — Get a safe and secure execution due to a multiple-layered protection system.

Instant — Get a quick and immediate execution for any wrapped cryptocurrency.

Flexible — Carry out from anywhere at your preferred time. 

Convenient — Execute easily and comfortably as per your needs without any difficulty. 

Previous Post
Wrapped Cryptocurrency- Explained

Wrapped Cryptocurrency- Explained

Next Post
What are Mutual Funds? Types of Mutual Funds

What are Mutual Funds? Types of Mutual Funds

Related Posts

Join the family of 35000+ readership