Crypto Guys, tanong lang about sa binance wallet.

[JericPH]

Guys, parasan yung defi wallet. Anong ginagawa nun?

 

[dothackjhe]

Pang-hold ng cryptocurrency.

 

[JericPH]

Pang-hold ng cryptocurrency.

Pang hold? Eh yung main wallet. D ba naka hold lang din naman dun yung cryto?

 

[Argument]

DeFi wallet or Decentralized Finance wallet, ikaw yung may full control ng asset mo at naka store ito sa Chain.

on the other hand is Centralized Wallet like Binance Wallet, if you send binance asset to another Binance wallet possible na Free ang transaction because Binance will process it for you kasi nasa eco system nila ang asset mo, and if ever na ma kalimutan mo ang password mo sa Binance pwede kang mag Chat sa CS para ma recover ang account mo. kaya siya centralized because someone have access to your account.

But DeFi wallet is different, only you ang may full control ng wallet mo, if makilumutan mo ang 12 phrase key mo, wala ng pag asa ma recover ang account mo. So on pag nag transact ka sa DeFi wallet you need to pay Gas Fee para makapag transact on chain.

Like “Metamask” metamask is a DeFi wallet.

I hope na naintindihan mo.

 

[JericPH]

DeFi wallet or Decentralized Finance wallet, ikaw yung may full control ng asset mo at naka store ito sa Chain.

on the other hand is Centralized Wallet like Binance Wallet, if you send binance asset to another Binance wallet possible na Free ang transaction because Binance will process it for you kasi nasa eco system nila ang asset mo, and if ever na ma kalimutan mo ang password mo sa Binance pwede kang mag Chat sa CS para ma recover ang account mo. kaya siya centralized because someone have access to your account.

But DeFi wallet is different, only you ang may full control ng wallet mo, if makilumutan mo ang 12 phrase key mo, wala ng pag asa ma recover ang account mo. So on pag nag transact ka sa DeFi wallet you need to pay Gas Fee para makapag transact on chain.

Like “Metamask” metamask is a DeFi wallet.

I hope na naintindihan mo.

Galing sir, thank you.

 

[Venator Praemii]

Galing sir, thank you.

Binance DeFi Wallet is a Non-Custodial, decentralized Web3 wallet within the Binance App.

Meaning, ikaw lang ang may hawak ng wallet at asset mo unlike sa binance exchange na centralized.

Ex. ng Non-Custodial Wallet.
• Trust Wallet
• Metamask
• Terra Station

 

[Melon-chan]

DeFi wallet ang naghohold ng mga DeFi tokens mo.

Hindi nakabase kung sino ang may control sa wallet private keys or passphrase mo. Both sa CeFi and DeFi, may control ang users sa kanilang mga private keys or passphrase, depende lang sa kung anong wallet gamit mo.
San ba nagkaiba? Nagkaiba lng sa involvement ng centralized exchange, sa CeFi may mga exchanges(Binance, BitTrex, coinbase etc) na fully involve. Sa DeFi wala, nagrerely ang DeFi sa automated process ng mga application na ginawa on top sa Blockchain(mga DApps), thus creating a fair and very much transparent(compared sa CeFi) transactions. In short, CeFi relies on the humans who control and imposes rules on the exchange, while DeFi relies on the technology/applications present to process such transactions.