Centralized finance is a type of financial practice within the cryptocurrency sphere where users can earn interest and get loans on their digital assets such as Bitcoin, Ethereum,?USD Coins like USDT & USDC, and so on, through a centralized platform. The platform can be managed by a person, a group of people, and usually within the jurisdiction of a financial technology (fintech) company.
In centralized finance, the assets and services offered are managed by people, and users need to come to terms with that. It’s about trusting the people or organization behind the platform. Also, CeFi platforms like?Hodlnaut?are custodial, which means we take user deposits and manage the accrual and payment of interests.
Q: What is a Centralized Finance (CEFI)?
A: is a type of financial practice within the cryptocurrency sphere where users can earn interest and get loans on their digital assets
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