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).
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.