In traditional finance, you might go to your local bank and talk to a fancy pants financial advisor who charges you fees just to manage your money. But with DeFi (short for “decentralized finance”), everything happens on the internet without any middlemen!

Here’s how it works: let’s say you have some Ethereum (the most popular cryptocurrency) that you want to lend out for interest. You can do this by using a DeFi app called Compound, which lets you deposit your ETH and earn interest on it. The cool thing is that anyone in the world can use Compound without having to go through any bank or financial institution!

Now let’s say you want to borrow some money for a new car or something. You could do this by using another DeFi app called Aave, which lets you take out loans with your crypto as collateral. The best part is that the interest rates are usually much lower than what you would get from traditional banks!

With DeFi, you can also invest in stocks and other assets without having to go through a broker or pay any fees. This is because all of these services are run by code (called “smart contracts”) that anyone can inspect and scrutinize. So if something goes wrong, you know exactly what happened and who’s responsible!

One of the best things about DeFi is that it allows people in developing countries to access financial services without having to go through traditional banks or pay high fees. For example, some Argentinians have used DeFi to escape crippling inflation by lending out their crypto for interest and earning more money than they would from a bank!

So if you’re interested in learning more about DeFi, check out some of the resources below:

– Compound (https://compound.finance/) A popular app for borrowing and lending cryptocurrencies
– Aave (https://aave.com/) Another great option for taking out loans with your crypto as collateral
– Uniswap (https://uniswap.org/) A decentralized exchange that lets you trade cryptocurrencies without any fees or middlemen!