What is Decentralized Finance?: And How Does It Relate To Cryptocurrencies? - MFI Series1, #57

Many people misunderstand the difference between cryptocurrencies and decentralized finance (DeFi). Cryptocurrencies are like stocks, and DeFi is like the banking system. Understanding a few stocks is much easier than the entire traditional banking system. Yes, there is a lot of money to make by interacting with DeFi; however, the risks are significant. If you don't understand the world of DeFi, spend a year learning. People assume getting rich in cryptocurrencies is about day trading.
However, the people who made the most money were buy-and-hold style investors.  To succeed in Crypto and DeFi, take the long approach. Educate yourself, mitigate risks, protect capital, and make well-thought-out moves. Avoid FOMO!