In today’s modern world, the rise of blockchain and cryptocurrency has brought a new type of financial system called decentralized finance, or DeFi. This is a technology-driven ecosystem where users can perform financial activities and earn money without needing any banks or middlemen.
Interest in DeFi is increasing all over the world. One proof of this is the huge amount of funds being invested in DeFi. Since 2021, the total value locked in DeFi has gone up rapidly. By April 2022, this number crossed 200 billion USD, showing strong confidence in the technology.
In this article, we will clearly explain what DeFi is, how it works, and how you can earn passive income from it just by holding your existing cryptocurrencies.
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