What are cryptocurrencies?

Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on decentralized networks called blockchains. They enable secure, peer-to-peer transactions without the need for intermediaries like banks. Cryptocurrencies like Bitcoin and Ethereum are among the most well-known examples.

What is DeFi (Decentralized Finance)?

DeFi refers to a set of financial applications and services built on blockchain networks, primarily Ethereum. It aims to provide traditional financial services, such as lending, borrowing, trading, and investing, in a decentralized and permissionless manner, eliminating the need for intermediaries like banks. DeFi protocols use smart contracts to automate and execute financial transactions.

What are NFTs (Non-Fungible Tokens)?

NFTs are unique digital assets that represent ownership or proof of authenticity of a particular item or piece of content, such as artwork, music, collectibles, or virtual real estate, on the blockchain. Unlike cryptocurrencies, which are fungible and interchangeable, NFTs are indivisible and have distinct characteristics that make them one-of-a-kind.