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What’s needed to access DeFi projects

You’ll need the following to connect to DeFi DApps:

1. An Compatible Wallet : It can be done via a mobile wallet like Trust Wallet or a browser extension wallet like MetaMask. You have a lower chance of being able to connect to DApps if you use a custodial wallet (one in which you do not control the private keys).

2. Crypto : Even if it appears straightforward, you can require a variety of resources. For instance, BNB will have to cover your gas costs if you use any DApp on the BNB Smart Chain. Ethereum will need ethereum (ETH). You will need two coins with equal value if you wish to start using liquidity pools and manually stake.

That is all you will need, at the most basic level. You can still use a centralized entity to access some DeFi services if you don’t feel comfortable setting this up yourself. This will be discussed in a later part when we talk about centralized finance (CeFi).

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.