Cryptocurrency has spread its wings and also has a bright future. There are many crypto exchanges since which one can get these cryptocurrencies, such as Coin Base, Binance.US, Crypto.com, KuCoin, and many more. Talking about KuCoin, in 2017, this exchange came into existence, with its headquarters in Seychelles. Kucoin grew with time and is proudly recognized as one of the 10 A-rated exchanges. Furthermore, it provides a meager mining fee compared to others, along with a safe and secure system for its users. Kucoin also presents a diversity of enumerated coins from which the users can pick according to their needs. Let’s get the knowledge about Defi by KuCoin.
What Defi Is?
Decentralized finance, abbreviated Defi, uses cryptocurrency and blockchain technology to manage financial transactions. Through Defi the fee, and do many things as Defi aims to equalize finance by replacing legacy, centralized institutions with peer-to-peer relationships.
Defi user needs to follow some steps to start using Defi. Firstly, a crypto wallet is essential because this is where you will store crypto coins so users can buy Defi protocols.
Once the wallet is chosen, it is time to select crypto coins. Now the user can trade in protocols. These protocols enable investors to lend and sell for a reward.
Let’s Quickly Go Through Defi Projects
Although there are lot of DEfi products, let’s go through some of them. One of the projects is DAI. Dai is an Ethereum-based stable coin launched, and Maker Platform and Maker DAO govern it. With time DAI has gained popularity. The next Defi project is Chainlink offers a Decentralize finance data set through a series of oracles and smart contracts. It provides a bridge between real-world data and blockchain applications.
Apart from this, the next project is OSMOSIS (OSMO). Osmosis is aimed at liquidity providers and an automated market maker built with the Cosmos SDK and is aimed at liquidity providers. THE GRAPH, MAKER, and many more projects are included.
Does Kucoin Support Defi?
Yes, KuCoin does support it. According to KuCoin Global, “KuCoin has been persistent in its pursuit of finding and supporting blockchain projects with real potential. To facilitate the development of Defi, the launch of KuCoin Choice Community Vote (Defi Session) for Defi projects has also been done.”
KuCoin has announced yet another excellent project, GAMEE. In this game, players can earn the token as a reward for skill, effort, and loyalty. The current gme price is $0.012075 per GMEE. The coin prices differ from coin to coin offered by KuCoin. Like if we look at ltc price, it is 9,174.59PKR. Similarly, Bitcoin will have a different price and so on.
Thus, with the changing buying and selling methods, cryptocurrencies have a bright future and will replace fiat currency. KUCoin is an exchange from which one can buy Cryptocurrency. It is a great forum to do that and also supports Defi projects.