Mastering DeFi - The Ultimate DeFi & Crypto Course!

#1 - How DeFi works.

This is the first episode of our exclusive course that will make you literally an expert on the idea of crypto.

So, in this episode, we are going to learn about Decentralized Finance - or, in short - DeFi!

This decentralized financial bandwagon, which is unquestionably the wave of the future in finance, is gaining momentum. And there's no denying it at this point. And even though there’s a great deal to learn about, this is an opportunity that comes around only once in a lifetime. So, you should stay tuned as we walk you through this delicate field of crypto and finance and help you learn everything.

Introduction to the Blockchain, Smart Contracts, and the Ethereum Blockchain.

It is our intention to use this episode to serve as a basic introduction to Bitcoin and Ethereum as well as blockchains, multi chains, wallets, hash addresses, and other related concepts because many of us have varying levels of experience in cryptocurrency.

Some of us have been working in DeFi for a long time, and others have little or no experience with blockchain technology. Consequently, while the primary focus of "DeFi Pro" is not on the basics of blockchain, but rather on how to produce passive income using decentralized finance.

Our goal for this episode is to bring everyone up to speed on the technology. Also, please feel free to pause, rewind, or ask questions in the comment section while you're watching the content. Well, let's get started.

What are the money systems in DeFi?

This time we want to begin by giving you a little demonstration of the final outcome stage that we're aiming for, which will be centered around DeFi. We’ll be using and giving a lot of different illustrations with different DeFi platforms and coins as well, but even so, the list will not be exclusive.

Also note that while you may not understand everything, and some of you may actually do, the purpose is to show you where we want to be by the end of this course on mastering DeFi. Well, let’s get started.

Navigating the DeFi process of earning & lending.

This lesson, we'll not only set up our wallets, but we'll also demonstrate how you can utilize Aave to lend out your Bitcoins and earn interest on your investment. In a way, this is decentralized finance 101, and we're going to split it down into three stages.

The first is actually setting up your wallet and putting your money into it, and the second is really using your wallet to make purchases.

In essence, the second stage will revolve around gaining an understanding of how Aave may be used in combination with the Ethereum blockchain system.

The third aspect is that we're going to do it on the Avalanche network in order to achieve a higher yield since that's the heart and soul of decentralized finance. So, strap your seat belts because this is going to be a bumpy ride. Well, let’s get started.

The concept of liquidity

This lesson, we’re going to look at liquidity.

We know the phrase "liquidity" makes people nervous, but it's rather straightforward. But on second thought, it's not so simple; it's very intricate. Getting to know liquidity may be a difficult process, to say the least. Because there's a lot of math involved in this area. But at the same time, it's also incredibly simple.

So, we're going to cover some ground here. But it is, on the other hand, analogous to driving a car. Understanding how a vehicle works is challenging, but once you grasp how it works, anybody can operate one. And for liquidity, you just make a deposit of liquidity and earn a return on your investment.

So, in summary, it's simply just a question of pressing two buttons and you finish.

But anyway, let us get right into it and look at the fundamentals of liquidity.

The art of Staking

This lesson, we’re going to look at staking.

Staking is an umbrella term that incorporates a lot of different ideas, but at its core, it refers to the act of placing a token in a certain location. And it seems as though all you have to do is post it in a location where people are willing to pay you for doing so, right? In some instances, you are not allowed to touch it.

They just want you to hodl that. And in return, they will give you free gifts. Even if there are situations in which time constraints must be adhered to in order to obtain advantages, such as "You must place this token here for a minimum number of days in order to collect your benefits," this is not always the case. For in most cases, you are free to make deposits and withdrawals whenever you choose.

And probably the only thing that could put people off is the potential of having to pay gas fees, which are often not excessive recently if you are on a faster network. And that is not Ethereum. Because putting money into or taking money out of your Ethereum wallet might cost you as much as $50 for each transaction. But the fees on the other networks range from about ten cents to one dollar. As such, we are going to spend some time today discussing some of the many different methods of staking that are currently available. So, let’s get started.

Apps to know in DeFi

Welcome back to Mastering DeFi. For today's lesson, in addition to showcasing some of our favourite apps, we are going to provide you with a selection of programs that will be of assistance to you on your journey in DeFi. In addition to that, it may make some aspects of this a little bit simpler. So, let’s get started.

Your Position as a DeFi Player

Welcome back to Mastering DeFi. By this point it would be simple for you to say, you know what, DeFi is not for you. Or that the cost outweighs the benefits. Or even wonder, what if the whole cryptocurrency industry were to crash, wiping out all of its value? Or isn't Tether just a copycat app? Because logically, Tether does not have any support behind it. What about the stable coins? And what will happen if someone randomly hacks the Phantom network? What if this occurred, and what if that took place?

Mastering Security on your cryptocurrencies

Welcome back to Mastering DeFi. One of the aspects of decentralized finance and bitcoin that appeals the most is how untethered it makes money seem. Being able to move thousands of dollars about without any bank setting withdrawal limitations on you and without anyone ringing you up. It's nothing but complete and total freedom.

However, at the same time, you are also your own bank. So, a consequence of this is you need to handle security as if it were your very own bank. So, today we are going to be looking at security and what it involves. And still, share what we’ve found to be effective and what hasn't been as successful. So, let’s get started.