The DeFi ecosystem is growing fast, and it can be a little overwhelming to keep track of what smart contracts are available. There is a myriad of different products and services that offer significant value. This article will look at some of the widely used DeFi products and assess why they are so successful. 

Metamask

As its name suggests, Metamask transforms the user’s browser into a decentralized cryptocurrency wallet where you store your digital assets. It’s the simplest of the browsers to install and use. You can import your Ethereum or ERC20 tokens through an easy-to-follow process, by simply entering a public address such as Coinbase or Mycrypto wallet into the MetaMask extension. You can also buy new ETH tokens through IDEX, ForkDelta or Radar Relay, using MetaMask. The DEX features are unbeatable and allow users to lock in their gains through timely trades. The buying and transferring experience are far smoother than other miners, making it easy to use, even for beginners.

OpenSea

OpenSea has created a very slick user interface that is intuitive and fun to use. You may find yourself spending hours browsing NFTs, checking stats and getting new tokens. The transaction flow is exceptionally well done – seamless, fast, and with low fees. OpenSea is a top-notch NFT marketplace with a sustainable, tokenized economy. OpenSea is definitely the leader in the space, and if you are interested in crypto-collectibles, it’s worth taking the time to check out their ICO, platform and trading volume! 

Brave Browser

Brave is a solid browser that is already used by millions of people around the world. The Ethereum-based BAT token keeps changing hands, but currently, the critical use case for BAT is as a currency for visiting premium websites and rewarding publishers with BAT tokens. Given that Brave Browser has its adverts, it can also serve ads to its users. Users can decide between different parameters, like adverts and relevant ads, being served. With Brave’s integration of the SOL blockchain, users will access decentralized applications on the platform.

Web3 Names

ENS is a very sophisticated service. It provides features found in the domain name system, hence Ethereum Name Service. It is an integral part of the Ethereum ecosystem, and it services some of the apps built on its blockchain. Sometimes even smart contract names get stuck; when you send cryptocurrency to a smart contract address, you need a way to retrieve it later. After all, no one can predict what might happen in the future, regarding Ethereum or any other cryptocurrencies. The general process for resolving an ENS lookup is simple: send the transaction to look up the associated address and return the result. Once you have done so, you can interact with that particular smart contract.

I hope this article has successfully presented the best ways to get started with DeFi. I encourage you to look at each of these suggestions, as well as the others not mentioned here, and ask yourself what is most valuable to your unique personal needs and goals. The DeFi market is increasing, so be on the lookout for new services and offerings as they begin to appear, and be sure to explore their offerings when they do arrive!