Glossary

The words of Crypto by the Bitsapiens team.

DeFi

DeFi is the short for Decentralized Finance.

Finance is traditionally centralized because it relies on trusted intermediaries.

For example, if you want to send money to a friend or relative, you rely on your bank to send it to the recipient’s bank.

DeFi, on the other hand, requires no intermediaries.

Participants can send and receive assets directly. In theory, this makes transactions faster and cheaper.