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Starting to learn more about crypto , I find it really hard to know more about it in just a short time , I know it will take a long time and everyday studying to be able to understand it well.

Just as I was starting in this world of crypto  , a new term has been the hot item nowadays , DeFi platform. I'm really trying to do a little bit of everything from bounties , to Airdrops, to Signup to have free bonuses , I didn't get a lot of chance learning about this new thing on crypto.

Anyone , who can simplify DeFi ? 😄

Taking part in bounty and airdrop is unfortunately not the best way to learn about crypto...
Much better would be to read some articles and posts about it. I suggest you just ask google "what is defi" and he will get hundreds of results - just spend 5 minutes to read the first or second link and you will get an answer to your question

Youtube videos are good source of information. There are users out there who can explain it better with you having to google every term. Defi is from the term decentralized finance which a user can do just about anyuthing related to finance including lending, flash loans and trading and all these are done with smartcontracts with no central authorities. Now, this isn't just it.

But if you could look up to youtube there are more users out there that can explain it best down to its details. You may wanna go dive into a particular defi platform like Compound itself or Aave.

Decentralised finance this blog can help you to understand more about defi https://academy.binance.com/blockchain/the-complete-beginners-guide-to-decentralized-finance-defi?amp=1 and what advantage of defi project have and potential use cases of defi project.

Simply DeFi is abbreviation from Decentralized Finance, which is an industry that providing financial services such as lending, trading or etc through decentralized platform on a blockchain (mostly in Ethereum blockchain). There is another good article^[1] which leads you to better understanding in DeFi or read this topic overview^[2] about DeFi.

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[1] https://decrypt.co/resources/defi-decentralized-finance-explained-guide-learn
[2] https://bitcointalk.org/index.php?topic=5256820.0

because many have explained about defi, my advice if you want to try tokens from DeFi just follow bounty and airdrop because some DeFi projects are holding these two programs and also while looking for other free events  DeFi trend is still very good so if you manage to get DeFi tokens may be more expensive in value.

This definition from Binance academy can make you understand what is a Defi. And it's already summarized.
https://academy.binance.com/glossary/defi

They have all the information about DeFi down your OP.

Just don't get stuck with bounties.
Think of them like freebies to add with your investment.
You wont get anything much from it. Just an addition in case the value of your bought token will end up just ROI you will still have a little profit thanks to the bounties.

Oh! and welcome to the crypto world.

Well that's part of it, you really need to spend more time around, read and learn.


DeFi? Decentralized Finance, I think it's pretty much that, regarding bounties, as I said, if you really wanted to learn then you should back read and see the topics being up for discussions. You will not learn if you are just here to earn by joining bounties. Try to learn technical analysis as well and don't be that typical bounty hunters, just shit posting here.

Ideally, you should only seek them out from bounties and airdrops as currently, large DEFI projects require a large amount of money to invest in them. If investing, please refer only to projects with a clear and well-informed team. Stay away from projects on the uniswap trading platform if you don't understand them well because the risks are enormous.
Regarding the DEFI concept definition and related functions, you have found the answer from the comments above.

Through Airdrops and Bounties you can learn in the process, that's a good start for a crypto newbie, as for DeFi you need to be careful around them, they are presently profitable and full of hype, do not get caught, the only DeFi bounty presently ongoing is OIKos, last month DIA was still ongoing.

Overview on DeFi (https://bitcointalk.org/index.php?topic=5256820.0)
[BIG LIST] DeFi Projects & Tokens (https://bitcointalk.org/index.php?topic=5268804.0)

many have been updated in the crypto field for new projects of the various ways that have been done to avoid constant fraud but are also not resolved properly. especially those that will now be made, I would not believe all of that if there was no action from us wanting real changes then the fraud incident would occur again. many modes are done with updates that continue to innovate and look nice to hear but difficult to do.

I found this article about DeFi interesting: https://www.worldcoinindex.com/news/yearn-finance-native-defi-cryptocurrency-yfi-surges-190-over-the-last-week-price-tops-38-000 (https://www.worldcoinindex.com/news/yearn-finance-native-defi-cryptocurrency-yfi-surges-190-over-the-last-week-price-tops-38-000)

In simple terms, defi resolves everything around that involved money in a decentralized environment.
It can be decentralized exchange, swap, lending, derivatives, savings, yield farming etc.
But i still recommend you to study and research more before investing into each project.

At least realising that knowledge is very crucial to making it in crypto space, is a good step towards developing yourself.  However, as some members have also suggested, this forum and some other legit crypto platforms with reliable news can help you in learning fast than just participate in airdrops, giveaways and bounties alone.

You cant learn about crypto by participating in airdrops and bounties lol you can only gain from it but be careful tho coz there are lots of scammers out there. About DeFi, I suggest DYOR. The thing about it is that projects and crypto-enthusiasts have different views about it.

YouTube has good channels about cryptocurrency and defi. They have recorded good videos about the defi since may of this year.

Start with this topic, the main sites are written at the beginning, this is enough to get the necessary information
https://bitcointalk.org/index.php?topic=5198245.0

and be sure to read the book:

https://landing.coingecko.com/how-to-defi/

"How To DeFi
Decentralized Finance (DeFi) is fast disrupting the traditional financial sector. How To DeFi is a must-read book for anyone looking to understand DeFi. It is packed with simple explanations and step-by-step guides to help you understand and get started in this fast-developing ecosystem."

As others have already shared important links where one can learn and understand more about DeFi, I hope the OP will use it in assessing the authenticity of DeFi project that he will get interested with. Because some of these projects are just riding the hype and they have no intentions of actually implementing the platform. Like a money grab project and users should be vigilant with those projects.

I agree with our friends that learning on YouTube is easier to understand and not too difficult, following a bounty can be a direct lesson by following it and if successful you can get the prize, but when you join the bounty you have to be more. be careful and thorough because there are many scammers, when the Defi project is hype many people try to exploit it by cheating, more thorough is better

At the moment stay away from defi projects because their prices are already bloated and this thing can crash hard. Just to understand decentralized finance is called defi which is basically like providing decentralized banking services, so it is a big niche but will take time developing and growing.

Don't just go running after those projects because everyone is talking "DeFi". The hype is real now, so be careful when you make any kind of investment over there. Fake projects are taking advantage of this hype and are trying to scam people.
Read the resources others provided you and be the judge for yourself if they are going to be a good investment or not. And about airdrops and bounties, don't do those. Just waste of time.

If you want to learn more about what Defi is then you can search various sources be it their social media channels, YouTube videos or Google. there you will find what you are looking for. but remember, I don't recommend you to invest in it, especially if you are new to crypto on the other hand the Defi program is still new. this is high risk.

the concept of DeFi alone is really great, but it is the project team behind it will dictate on how their platform will indeed perform as DeFi platform. as we are seeing right now, countless DeFis are appearing everyday. and check some of them because they already have existing allegations like plagiarised whitepaper or using fake team profiles. stay away from those projects because it warns us that they are not sincere on what they are offering but just here as money making scheme.

That is like what we saw in ICO and IEO before. The project becomes bad and only have money oriented without thinking about how the project can survive for the long term. It is normal to see that because if one thing is exploding, there will be many new projects that will launch with almost the same as the previous project. If you can not find a good source about DeFi, I suggest you leave it behind you and search for another thing, such as analyzing the other coins at the market. Maybe that will works for you than to spend your time searching for DeFi.

You can learn more about Defi in my blog at clicking below

It is true, with a new program that is not widely known and discussed, of course, there will be risks that we cannot know, while until now we are still guessing. A good suggestion is to study some more and understand or at least not to plunge before believing. I really appreciate the advice you give, of course, this will make good learning.

The best method to know about it is use Google and Youtube. I think you can benefit by watching some tutorial on how does defi really put into good use. From staking, lending, and yield farming. You can do most of the stuff easily and can gain profits from it.

Lucky coders who can easily create a scam project and leave it once the project already gained a lot of funds.

learning crypto is not easy so dont force yourself to learn everything in a day  . take it easy and dont pressure yourself because this isnt a competition and no one is going to catch you from behind . youl face different trends here on crypto and defi is the latest one  but like i said earlier start from basic and ignore these trends for a while however what your doing is fine. before when i was a noob i also start on airdrops then bounties and so on .  you wont know maybe theres also defi on the airdrop and bounties that you joined .

Yesterday there were such huge commissions. I paid 50-60 dollars for 1 uniswap operation :o

This would surely be another great utilization of Ethereum and knowing the endless possibilities of providing financial services now, we might get to see more improvement in the future. Article number 1 really gave a good introduction about DeFi which really shows the use of Blockchain Technology with providing financial services. Lending and Trading are one of the initial things that are always happening in some sections of the forum and creating a term for it just made it better.

Tron DeFi  lol

https://twitter.com/DoveyWan/status/1295750531483201537
"Ahahahahahah I'm dead, this is such a joke I can laugh for weeks

THE most expected TRON SWAP project Alphalink apparently has 0 technical competence and failed in adding liquidity to its pool, now locked up 200k forever in its own contract ..."

https://tronscan.io/#/token20/TFXqvoiNrGt2RZT6Uh7H7TQQkVmGV5FY3o
https://tronscan.io/#/contract/TTW2bchXQYjHMiea87W1dCH6PArNhDzqf4/token-balances

I think the most profitable way is to add liquidity to reliable defi projects. it will bring you a very large money income if the project will be popular from traders and users

Did you yourself make money on this?
Liquidity providers can lose their money if the pool is depleted as a result of arbitrage or an error in a smart contract.
The easiest way is to do farming, there are very minimal risks. But you need to use proven projects.

Defi is now considered the most prominent investment trend during this period and 10 new projects appear, there will be 9 successful projects in this market.

I am also investing in a lot of projects but only speculating because if holding long term, you will easily face risks. What you need to consider when joining DeFi is profitability because this is what determines the potential of the project after being listed.

You are screwing up your proportions here. More like if 10 projects appear, 1 will be successful. There is already the rampant copying, scamming and pump and dump that this space has always been famous for. It is impossible to separate the good ones from the bad ones as most of them seem to have learnt from their mistakes and are adapting very encouraging tones as far as devs and "community" is concerned.

How exactly do you find the "profitability" of a DeFi project before listing and being available on exchange??  It is always like they pump the prices on Uniswap with some low-liquidity pool. People FOMO and buy worthless tokens by paying very high transaction fees. Finally when and if they find an exchange, the price goes into high volatility benefiting the traders and whales like it is meant to.

New upcoming #DEFI project called fiscus.fyi looks very promising. Looking to do a crosschain lending platform meaning you can also deposit and borrow BTC LTC etc.