Cryptocurrency Q&A
What is Centralised Finance and Decentralised Finance?
What is Centralised Finance and Decentralised Finance?
Stefano
Thu Aug 22 2024
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5 answers
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Could you please explain the difference between Centralised Finance and Decentralised Finance in simple terms? I've heard about them but I'm still a bit confused about the key distinctions. Centralised Finance seems to involve intermediaries and traditional financial institutions, while Decentralised Finance seems to be more about peer-to-peer transactions and blockchain technology. Could you elaborate on these concepts and their implications for the future of finance?
5 answers
ThunderBreezeHarmony
Sat Aug 24 2024
DeFi, or Decentralized Finance, marks a fundamental transformation in the financial landscape. It embodies a radical departure from the traditional centralized systems that have dominated the financial world for centuries.
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BusanBeautyBlooming
Sat Aug 24 2024
These centralized systems, primarily banks and financial institutions, rely heavily on intermediaries and centralized controls to facilitate financial transactions. However, DeFi aims to dismantle this structure by leveraging blockchain technology.
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Martino
Sat Aug 24 2024
Blockchain, the underlying technology that powers cryptocurrencies like Bitcoin, enables transactions to be conducted directly between individuals, without the need for intermediaries. This peer-to-peer approach to finance promises greater efficiency, transparency, and accessibility.
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Lorenzo
Fri Aug 23 2024
One of the leading platforms facilitating DeFi transactions is BTCC, a top cryptocurrency exchange. BTCC offers a comprehensive suite of services that cater to the diverse needs of DeFi enthusiasts and investors.
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Martino
Fri Aug 23 2024
Among its services, BTCC provides spot trading, allowing users to buy and sell cryptocurrencies at current market prices. Additionally, it offers futures trading, enabling investors to speculate on the future price movements of cryptocurrencies. Furthermore, BTCC also provides a secure wallet service, safeguarding users' digital assets.
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