CRYPTO BRINGING BANKING SERVICES TO EVERYONE

 CRYPTO 106

CRYPTO BRINGING BANKING SERVICES TO EVERYONE

DEFI: Decentralize Finance, is a system where financial products is made available in a Decentralize blockchain for the public, without passing through any middle men like the Banks or Brokerages. 

This was the vision of Mr. Vitalik Buterin, the founder of Etherum blockchain, who proposed that, since the BlockChain is much secured, it will be ideal to develop APPs that will run on the BlockChain, that will equally enjoy the same high security on the BlockChain. 

This was the primary reason why Etherum BlockChain was build and such APPs are categorized as SMART CONTRACT. While the APP itself are called DAPP (Decentralize Applications)

Just visualize your Bank, whatever you can do in the Banks, is what you  can equally do in Crypto world

Savings

Loans

Borrowing

Insurance

Fix Deposit

The names in the Crypto World might not be the same, however listed below are the decentralize financial contracts that are obtainable in Crypto BlockChain

Lending and Borrowing

Decentralize Exchanges

Yield Aggregators

Assets management Tools

Deravatives

Insurance

Staking Protocols

Market Place

BloackChain Gaming

ETC

 

The Beauty of it is that is very Transparent, and do not involve any Third Party like Banks or Brokerage firm, and you do not need any KYC (Know your Customer).

 

There are so many adults that do not have a Bank account, especially in this part of the world, due to the paper work involved in opening one.

 

Please tell such a person today, that there is good news. With just a smart phone and internet, you can create a free wallet, and enjoy all the Banking products mentioned above by connecting to a decentralize Exchange in Crypto World.

 

DEX: This is decentralize Exchanges, were you can do crypto currency exchanges directly via peer to peer without involvement of a third party. Everything runs in autopilot. This is where you will enjoy the beauty of Smart Contracts.

 

We also have Centralize Exchange, where digital currency is as well exchanged, but via a third party (Company). Most beginners are advise to start with Centralize Exchange, so that if you run into any challenge, there will be customercare to write to, for solution. The biggest Centralize Exchange in the world today is Binance.

You Must Creat an account with Binance today, it is the write place to start your create Journey.

 

HOW TO CREATE ACCOUNT WITH BINANCE

 

CLICK HERE https://accounts.binance.com/en/register?ref=129387192 TO START CREATING YOUR BINANCE ACCOUNT IMMEDIATELY

Fill your email and preferred password, then click create account

 

You will need to slide the puzzle to match where the skeletal shape is

 

Put the Number send to your email

CONGRATULATIONS, YOU HAVE PASS THE FIRST STAGE. 

Click the verification and start the second stage 

In this stage you will need the following

1.    Your means of identification e.g Drivers license or International passport data page

2.    Proof of address. Your utility bill like NEPA must have your name and address in it, matching the address you will fill. If it does not have your name on it, please do not use it. Rather print your statement of account from your online Bank, it has your address in it, use it.

3.    If you are registering on phone, take your phone outside where there is better illumination, it will ask you for a selfie of your face. If you succeed in putting all this, it will take a while like 24hours or less, to verify the account. You can now buy crypto or trade in the platform.

Please note that you are doing all this because it is a centralize exchange, if it is decentralize, you will not need all that. You will only connect your wallet to the platform, that is all.

However, this is better for a beginner, if there is any challenge, you will see who to ask.

Please those that succeeded in opening Binance account, will learn how to trade soonest on that platform. Congratulations.