The Next Cryptocurrency Boom Is Already Here – Real Daily

If you follow the news about the cryptocurrency market you’ve no doubt been reading about how rapidly the Decentralized Finance (DeFi) market grew in 2020.

This market is often referred to as the crypto finance market and it has the potential to become the next great crypto boom.

The DeFi growth is based on decentralized borrowing, lending, and asset trading on the blockchain through the use of smart contracts. This is very likely going to be a huge market and it’s the great disruptor that traditional banks need to worry about.

DeFi technology is beginning to turn the traditional banking system on its head. The banks that don’t quickly develop blockchain technology to compete will soon rapidly lose customers.

Already, DeFi crypto exchanges, such as Abra, Voyager, Blockchain, Celsius, and others pay far more interest on deposits than you’ll see from banks. Earning 8% to 10% on USD stablecoin deposits is typical, while many offer 4% to 6% on BTC, ETH, and other cryptocurrencies. Investors get to earn interest on their holdings.

A quick and easy way to take advantage of some of the higher interest rates offered by DeFi exchanges is to move some of your money from your regular savings account (probably earning less than 1% per year) into one of the stablecoins in a DeFi exchange.

Stablecoin examples include Tether (USDT), the Gemini Dollar (GUSD), the US Dollar coin (USDC), and the True US Dollar (TUSD).

The DeFi tokens are the