How can I get involved?
Ironically, there are two types of cryptocurrency exchanges from which you can begin your journey into DeFi:
Centralised exchanges – these, such as Coinbase, make it very simple to download and register on an app that is governed by financial institutions, offering an improved level of security and protection (and therefore confidence) but not really working in the DeFi movement’s favour.
Decentralised exchanges – true to their morals, these exchanges allow for the transfer of goods and services that are governed by other users rather than any central, for-profit business, and typically do not charge a commission or fee, or a much smaller one if they do. Many DeFi DApps (decentralised apps) will look to establish their own decentralised exchanges, and struggle with scalability and volatility as a result of being smaller and less known.
What should we expect from the future?
Over time, we should expect decentralised exchanges and apps to become more mainstream, affording us more control over our money.