Most Popular DeFi Tokens

DeFi tokens are becoming increasingly more wanted as the underlying assets, which they represent, begin to surge in price, often with shocking results.

But what are DeFi and its tokens for? How to use them best? Should you get them while they’re cheap? And… Where to buy them?

Where to buy DeFi tokens

• Nominex (no KYC, negative commissions, some of the lowest prices on the market since the exchange is still new)
• Binance (reputation, formidable presence in the niche, strong community support)
• Kucoin (user-friendly interface, a few years in the business, but watch out for security problems).

You can find answers to all these questions below and learn, so even if you’re completely new, joining the wild and wonderful world of digital finance becomes as easy as opening a can of Pepsi.

With this guide, you can start lending Dai and earning interest within minutes without any documentation required, which in itself is promising, but what’s even more exciting is becoming a part of a new system that will grant you immeasurable opportunities and (if you really try) thousands of dollars a day.

There’s also a lot of fun to be had if you’re into unexplored territories, and the sphere of crypto is nothing less than tremendously exciting for those who ever watched The Matrix and wished to fight the system alongside Neo. Now you can.

Why are DeFi tokens so valuable?

Now, you can see why Uniswap tokens would be a good investment since, with Uniswap’s volumes going from 2 to 11 $Bn in just 90 days, many are after them. And you know that when people want something, the price rises. Which is why you’d see its price more than doubling on the 19th of September.

Tokens that represent value matter. And statistics prove that there is A LOT of value in DeFi. What to invest in? Which tokens are the most valuable? Here’s the list of the best ones so far:

• LINK

This is the token of Chainlink, one of the more promising projects that aims to link smart contracts and the real world to not only use smart contracts more broadly and on a larger scale to makу some money but also to ultimately create a fairer future for all.

Smart contracts are superior to real ones in just about every way, but in order for them to understand whether they should pay out the money or not they need data from the real world outside the blockchain.

“Imagine that you are a farmer and you have a huge field on which you have planted some vegetables and, of course, these are highly dependent on the weather. Therefore, in theory, you can come up with some kind of insurance policy, which will state that if the air temperature reaches 40 degrees for five days in a row, you automatically receive compensation. Because you know that a crop at this temperature is likely to die over such a time. If you write up a classic contract with insurance, you still need a very long time to prove that it really was the temperature’s fault. Add to that the prospect of suing the insurance company so that they pay what they promised in case of disagreement.

If you formalize all this in the form of a "smart contract" that can be deployed on the blockchain, then as soon as all the terms of the contract ring true, the money will be paid automatically. A smart contract cannot be stopped or bribed. And for it to be launched, data from the outside world is needed. In this case, this is accurate information about the air temperature in this particular place. This data is not on the blockchain, i.e. it needs to be supplied somehow. This is exactly what Chainlink is addressing. They create the infrastructure so that data providers can efficiently deliver data to consumers.”

— Cryptowatt.ru

• Dai

Dai is a stablecoin that is worth almost exactly $1. It’s viewed by many as a revolution in the space because anyone with an Ethereum wallet can use it, you don’t need 3rd parties to exchange it, and it’s not controlled and cannot be shut down by anyone.

Solving the problem of volatility creates massive trading opportunities. Unlike with centralized stablecoins, which can be hacked or influenced by politics, Dai is all code. And you can trust code (don’t forget about the possibility of taking out insurance with the likes of Nexus, by the way).

• Yearn.Finance’s YFI token

Yearn.Finance is an aggregator platform that gathers the most profitable lending offers from the whole market. This is a terrific prospect for hodlers primarily (and everyone else), which is probably why this happened:

“The yearn.Finance platform has also released its YFI token. As the company itself noted on Twitter, its coin is "completely useless and has no value." But this did not prevent the asset from rising in price by almost 13,000% in 7 days.”

— RBC

• LEND

Aave’s LEND token represents a company that is almost exactly similar in terms of functions to Compound, both being some of the most complex and voluptuous protocols in the industry. Aave, however, offers many more options such as more assets and generally much more useful functionality. Even though Compound is more user-friendly for beginners, it’s worth thinking about investing into Aave as the number of advanced and pro users grows with crypto’s rapid adoption.

• UNI

Uniswap’s token is without a doubt one of the most impressive contenders ever. Going from $2Bn to $11Bn in around 90 days, Uniswap with its lack of registration, immense popularity, and market dominance is undoubtedly one of the most promising projects around. Not paying at least some attention to it would be criminal negligence.

Final thoughts

It looks like DeFi is the next growth cycle similar to the first stages of Bitcoin’s rise from $0.0001 to $20 000, judging by the tempo with which the DeFi industry is growing. Will you jump on that train in time? These tokens can be bought on Nominex, the first platform to offer lightning-fast registration without compromising your data, a powerful engine, professional and friendly support, a useful and funny blog, a next-gen system of entertrading, education, and more useful features that can be read about here.

Image courtesy of Medium