DeFi Beginner’s Guide

Beginner Jun 4, 2021

Defi guide
Key Takeaways:
— From lending or borrowing money to trading your digital assets, DeFi applications allow you to do everything without relying on a central entity.
— DeFi is exciting but it can also be overwhelming if you do have the right resources to follow.
— This is why we have put together this article to provide you with a comprehensive beginner’s guide.
— You will find the best web media, podcasts, newsletters, and more that will help you in your DeFi journey from the very beginning. So, get ready to bookmark some of the best DeFi stuff on the internet.

Looking to get into DeFi but don’t know where to start? We’ve put together a DeFi beginner’s guide to help you on your journey!

You’re here. Finally. In the world of decentralized finance, or DeFi. As anxious as an introvert entering the nightclub for the first time. Everything seems so exciting —a much-needed change, but you’re overwhelmed.

Trust our words, that was each and every one of us when we first stepped into DeFi for the first time. Overwhelmed, anxious, but also excited. But don’t worry we’ve got you covered.

Speaking of DeFi, let’s start with understanding the basics.

What is DeFi?

If you’ve been a customer of a bank that restricted your access to your hard-earned money or if you’ve experienced the horrendous process of asking for a loan, you know the legacy financial system does not really favor people. It favors those who are centrally controlling our funds, and you have little say as a customer.

Altogether, DeFi creates a people-centric financial system that has less room for corruption and mismanagement. It offers every user equal rights, provides them with freedom to control their funds and transact as they wish.

There are applications that enable you to take instant loans, lend your extra funds to earn a passive income, or trade and exchange assets without having to rely on a central entity.

Want to know more about DeFi? we’ve produced a dedicated episode that you can watch over here.

Sorted? Now, as we told you, we’ll introduce you to everything that can make DeFi more reassuring and engaging.

Propel Your DeFi Prowess

Do you dislike some people just because of what you’ve heard about them from others? Once again, that’s most of us. That can exactly be the case with DeFi if you consume the wrong content. It can get more complex, and you’d end up getting frustrated. To make sure that doesn’t happen, we are listing down the best resources on the internet for you to kickstart your DeFi journey. 

Web media

Following the most trusted web media in the DeFi space is one of the easiest ways to stay updated. Whether you’re looking for the latest news, educational blogs, or DeFi data, it’s all there. You just need to look in the right place. Here’s our selected few:

1. DeFiLlama: DeFiLlama is one of the most popular and comprehensive platforms if you’re looking for data on DeFi applications and tokens. Its home page offers an overview of the entire space and lists all projects across various blockchains. You can also filter the content depending on the type of project you’re interested in.

2. Coindesk DeFi Archive: If you’re looking to stay up to date with the latest DeFi News, this is the place to be. Coindesk is a prominent media publication that covers the entire blockchain and crypto industry. Luckily for you, it has a DeFi archive that lists the latest news as it happens.

3. DappRadar: DappRadar is another great comprehensive source for DeFi news, beginner guides, and more. The home page of the website actually showcases multiple sectors of the crypto space including, NFTs, and exchanges. Moreover, you can explore the blog section of the website that has lots of news articles, educational blogs, reviews, and reports.

Podcasts

If you’re more into listening than reading, you surely do not want to miss out on DeFi podcasts. However, you may want to first learn the basics of DeFi before listening to podcasts as they may get slightly technical for beginners. Here are the ones we think deliver maximum value:

1. The Delphi Podcast: Delphi digital is a crypto and blockchain research company who’s top executives host The Delphi Podcast. They interview prominent stakeholders of the blockchain space to showcase the most exciting innovations. If you want to learn from people who are spearheading the charge of DeFi, then this podcast is surely for you.

2. Bankless: Hosted by Ryan Sean Adams and David Hoffman, crypto investors and entrepreneurs, Bankless covers several aspects of DeFi through interviews, AMA, explainers, and weekly ROLLUPs. If you’re serious about DeFi and are planning to test out this new financial ecosystem, Bankless will be a valuable asset to your journey.

Newsletters

Yes, newsletters are still a thing. And if you know about the right ones, they can be knowledge bombs delivered right to your favorite email address. Want to know what we like?

1. This Week in DeFi by DeFi Rate: DeFi Rate is probably one of the best sources for DeFi knowledge. They have a weekly newsletter you can subscribe to and get every week’s DeFi update right to your inbox.

2. Newsletter by The Defiant: The Defiant runs a YouTube channel, which is a great source of DeFi knowledge, but also sends out weekly newsletters that can have anything from interviews to how-to guides and weekly recaps. If you’re looking for a mix of everything, The Defiant’s Newsletter can be an amazing choice.

Social media influencers

In the age of the internet, social media influencers play a critical informational role. Thankfully, there are some awesome people spreading the word about DeFi and how disruptive it is.

1. DeFi Dad: DeFi Dad is a core team member of Zapper, a DeFi portfolio management platform. He clearly shares some of the most useful DeFi insights out there. Even his YouTube playlist of DeFi tutorials is highly interesting and accessible to beginners.

2. Finematics: Finematics is one of the most popular YouTube channels for crypto and DeFi education. It has a dedicated DeFi playlist that hosts 34 tutorials to get you started. You may also find Finematics on Twitter to get the latest updates on what’s cooking in the space.

3. Laura Shin: A former senior editor at Forbes, Laura Shin is a renowned name in the blockchain space. She’s an active tweeter and also has a podcast called Unchained that covers all aspects of blockchain and crypto.

Books and readings

If you’re the patient type who prefers to go deep into the subject, then a book, a long-form article, or some DeFi reports will surely fit your needs.

1. How To DeFi: How To DeFi is a book by a widely recognized crypto and blockchain platform CoinGecko. It starts by introducing you to the differences between centralized and decentralized finance and takes you all the way through to mastering DeFi.

2. The Ultimate Beginner’s Guide to DeFi by Decrypt: Decrypt is another popular crypto media publication, and this guide is one of the best 15-minute reads that can get you going in the DeFi space.

3. Reports by Consensys: Last but not least, quarterly DeFi reports by the leading blockchain solutions company Consensys provides you the best and newest industry insights.

Your DeFi Beginner’s Guide, Your Financial Freedom 

Decentralized finance is likely to gain wide adoption due to the financial freedom it brings to every individual. As a first step, you can master DeFi using the resources we shared and reap the benefits of this evolving financial ecosystem. While you do that, be sure to make informed decisions and find a place to safely store your crypto assets.

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