The new and easy-to-use Defi protocols will revolutionize the world of decentralization. The survival of Defi relies on continuous efforts in utility advancements and acceptability. This is a necessary element to resist unpredictable volatility within the crypto market.
Many prominent exchanges like Coinbase, are stepping towards adopting the exchange of fiat paychecks in crypto. This leads to a new and easy path for those who want to start their crypto journey.
Prominent Entry Points to Crypto
There are multiple entries for newbies to the crypto sphere. It is relatively easy to start the crypto journey as compared to the early stages of this industry. But a lot is needed to be done to ensure the quality of crypto projects.
Multiple tools help people to get insight into what the crypto world is. On top of this humans now have applications to teach them investment strategies. Here are some crypto investment strategies you can have in mind to start on the right foot:
1. Yield Farming
One of the basic entry gates is Yield Farming, an easy and digital way to get profit through investing in liquidity or lending pools.
In yield farming, participants have to buy tokens and stake them until they offer enough profit. It is for anyone who wants to earn through such digital mediums and is new to crypto.
2. NFTs (Non-Fungible Tokens)
NFTs are a new and trending medium to step into the decentralized realm. These tokens are one of a kind and are rare to the point that they cannot be exchanged.
They can be purchased and sold by people on the internet just like any other online asset these days. They are non-tangible and are often misunderstood by people who are new to the crypto sphere.
This is because of their mainstream popularity, they are now almost everywhere, endorsed by almost everyone. The digital art world has transformed because of NFTs and there is a lot to unpack in the coming years. You can check our website where we feature upcoming NFT projects to keep you in the loop of what’s happening in the NFT world.
Issues with Existing Access Mediums
One of the existing issues that a newbie face in the digital world is the burden of high gas fees. It is actually the main cause behind people leaving the second most popular blockchain: Ethereum.
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Many potential projects are either never released or disliked due to the hefty gas prices. On top of this many people are now transferring their efforts and assets to Solana due to its cheap gas prices.
On the other hand, accessibility plays a vital role in attracting people and clients. Lack of accessibility and the burden of high gas fees are the main hindrances. But recently many projects are coming into the limelight due to their innovative nature.
They have the potential to transform Defi and revolutionize the digital realm for the “not so crypto enthusiasts”.
Ending Thoughts
There are a lot of projects coming that are improving our path for us. The Defi protocols of summer 2020 and the rise of many other blockchain projects are proof of improvement. However, there is always room for more, especially when it comes to something virtual. The virtual world is endless and so does its demands.
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