Why is DeFi the Hottest Topic in Crypto?
DeFi stands for decentralized finance. Basically, the use of smart contracts that allow you to leverage your crypto investments to earn more money. Basically, it's lending. You're either going to be participating in lending out your crypto in a direct way, or you're going to be storing your crypto in a wallet that is used to create loans for other people and you get interest. This last one is being called high yield savings accounts and they claim to offer up to 6% yearly interest, but most of these rates will vary wildly.