Cryptocurrency Q&A
What is DeFi lending in Bitcoin?
What is DeFi lending in Bitcoin?
DiamondStorm
Mon Dec 23 2024
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7 answers
1380
DeFi lending in Bitcoin refers to the use of decentralized finance (DeFi) applications to facilitate lending and borrowing of Bitcoin. This allows individuals to earn interest on their Bitcoin holdings by lending them out, or to borrow Bitcoin for various purposes such as investing or paying expenses. DeFi lending platforms utilize smart contracts on the blockchain to manage these transactions, providing a secure and transparent way to engage in financial activities without the need for traditional banks or financial institutions.
7 answers
CherryBlossom
Wed Dec 25 2024
Users can engage in lending and borrowing activities involving cryptocurrency.
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Caterina
Wed Dec 25 2024
A DeFi lending platform represents a revolutionary approach in the financial sector.
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DigitalWarrior
Wed Dec 25 2024
It operates as a decentralized banking system, harnessing the power of blockchain technology.
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ZenHarmony
Tue Dec 24 2024
Blockchain networks provide the underlying infrastructure for these smart contracts.
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Federica
Tue Dec 24 2024
This is achieved without the intervention of traditional intermediaries like banks.
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