SINGAPORE, SINGAPORE / ACCESSWIRE / June 28, 2021 / Blockchain technology's approach to the financial world is not to alter the world's mode of payment but to create a fair and transparent financial system where anyone can participate, allowing unbanked people to access financial and banking services and its presence and continuous growth today only prove that it is here to stay.
Because of this, platform developers see a myriad of opportunities to use the technology to revolutionize the financial industry with new and innovative ways to access, store and earn money by maximizing its utility. PrivacySwap aims to bring more people into the Decentralized Finance (DeFi) space by leveraging on yield farming while propagating the idea of privacy on the blockchain.
How PrivacySwap Envisions The Future of DeFi Space
Decentralized Finance revolutionized the way people thought about cryptocurrency and blockchain. People became more interested in the space and what it offers, when they realized that it was beyond just buying and holding cryptocurrency. However, vulnerability to hacks and frauds do plague the whole space. PrivacySwap saw a silver lining to elevate the platform's security while providing multiple avenues for users to put their assets to work for them.
PrivacySwap focuses on stimulating and enlightening people on how profitable it could be to engage in DeFi. The platform also aims to educate people on the difference between traditional investment and investing in DeFi and crypto. In addition, the economy today has challenged everyone, regardless of their status, to reflect on how long their current investment and savings can support them.
The COVID-19 pandemic pulled the global market price down drastically, making it easier to convince investors to invest in the DeFi space as a form of diversification. In addition, cryptocurrencies like Bitcoin redeemed their market capitalization and even surpassed its 2017 statistics. By that, people see how resilient and robust blockchain technology and cryptocurrency are regardless of the market's volatility and increased uncertainty in the world. Cryptocurrency investment still shows significant advancement over traditional investment, justified by its progress and far more lucrative returns.
Yield farming is indeed one of the most profitable features crypto could offer to date. It is the process of staking your tokens into liquidity pools that reward you for providing trading liquidity. Thus, it is much like the same way of lending money in traditional investments. Providing liquidity will essentially allow your assets to be used for swapping of assets, which helps build the liquidity and trading ecosystem and promotes a healthy token economy.
Another aspect of yield farming is yield optimization. It is done through smart contracts that automatically compound harvests (your reward earnings), which can potentially provide an exponential growth in yield - all this led by smart contracts and strategies deployed on the blockchain, requiring no further action from the user other than just staking their assets-the literal pinnacle definition of passive income. A yield optimizer will compound your rewards back into your principal asset holdings, and the numbers get unbelievably lovely. This rarely happens in traditional investments without your constant supervision and input.
PrivacySwap derived its vaults from the concept of yield farming. The platform can help newbies start earning from day one and abundantly increase their assets passively. Plus, multiple other benefits are offered not just by PrivacySwap, but the whole DeFi space, and they are as follows:
Blockchain technology's security is procured from the very fact that it is decentralized. Meaning, no governing entity reads, approves, and rejects transactions from being added to the blockchain. Nevertheless, crypto developers always put security as their top priority as everything regarding yield farming to rewards distribution is governed by smart contracts deployed on the blockchain, with its contracts publicly viewable. Therefore, developers put in a lot of effort to ensure that peace of mind is always prioritized whenever investing in crypto. Furthermore, PrivacySwap comprises a team that consists of cybersecurity professionals in and outside of Asia, with a collective two decades of experience in the industry. Therefore, security and privacy remain their topmost priority.
Being permissionless, cryptocurrency is open and transparent. It essentially allows anyone to invest in the platform. In short, they don't discriminate, be it social or financial standing, and certainly not on any exclusive knowledge. PrivacySwap adapted this, and they also allow anybody with supported cryptocurrency wallets to stake on their platform. Despite being inclusive, PrivacySwap promises security and privacy.
DeFi platforms are so easy to use. The reason for this is simple, DeFi and crypto are meant to be simple, and it is all run via smart contracts that run under the umbrella of blockchain technology. The platform also ensures that the process is easy to follow with just a few quick clicks of the mouse or on your mobile phone. In addition, most DeFi platforms have almost identical web pages interface, making it convenient for users.
New World of Finance
As repeatedly mentioned, Crypto and DeFi platforms offer multiple ways to increase your assets exponentially. As a response to the fast progressing economy, some DeFi platforms have started partnering with traditional payment companies such as MasterCard and Visa, allowing users to use crypto as a form of payment to establishments that accept them. Partnering with such recognized companies also eases cryptocurrencies' purchasing process and converts them into the commonly known legal tender currency for everyday spending. The quick approach of the platform to answer the world's problems today regarding financial transactions is astonishing and is disrupting funds remittance.
Having said the above, blockchain technology's multiple benefits could no longer be avoided. Traditional banking and financial institutions such as JPMorgan Chase and many other big names have come on board by procuring billions in dollar value of cryptocurrencies and offering trading services for their clients. In addition, news of more traditional financial institutions like insurance companies, banking, and trading companies are showing latent collaboration soon. Perhaps, in no time, both new world and old world financial systems will break the wall between them, which will undoubtedly revolutionize the entire world's finance industry as we know it.
In a nutshell, cryptocurrency's first approach when they entered the market was to modernize financial transactions and lower the 'middleman' fees currently being charged by payment processing companies and banks. However, as with time and evolution, people have seen how profitable it is to engage in such currencies and gained much more profound knowledge and understanding. It was not easy to claim, but people have increasingly accepted that crypto is a true competitor with substance and solutions to better the modern world financial system.
Nevertheless, PrivacySwap aims to promote the early usage of cryptocurrency while it is still at its current stage and to help everyone interested in such investments gradually grow financially. This innovation is a great starter and is trend-setting. PrivacySwap also aims to enlighten everyone on how vital cryptocurrency is and its never-ending possibilities.
More so, after providing people with the means, ways and education to reap the benefits of crypto, PrivacySwap's next step is to strengthen the privacy aspect of blockchain and cryptocurrency.
The cryptocurrency price is currently at its best price to purchase; therefore, it is advisable to learn more about crypto then slowly get your feet wet. It is an exciting and precious space to be in! To wrap it up, PrivacySwap also offers a free webinar every other Wednesday (8:30 PM GMT +08) to help both veterans and newbies learn more about their platform and the whole DeFi space.
Learn more about PrivacySwap via the following channels:
Telegram Announcements: https://t.me/PRVAnnouncements
Privacy Pools Application Form: https://docs.google.com/forms/d/1S4Vh_wYrkwn9guTYAz_K8MmXengCIq8IOMKLvP6PdGM/viewform?edit_requested=true
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