What is DeFi, Dapps and Collections (NFT): TRUSTWALLET Your friends for exploration of DeFi, Dapps and Collections on BINANCE SMART CHAIN

Are you a digital asset holder? There are several aspects that you should know about your digital assets, at least you must have a cryptocurrency wallet to store your digital assets, coins/tokens or NFT (nonfungible tokens). Don’t have a wallet yet? please follow the method to get it.

Follow these steps,

  1. Use your smartphone, IOS or Android. Visit the Trust Wallet website. https://trustwallet.com/

  2. Select the appropriate platform, then download

  3. Open the Trust wallet application, Create your first wallet. Copy the seed phrase, keep it in a safe place.

  4. Reorder the seed phrases

  5. Done, you have your first wallet in Trust Wallet

Next, we will fly further and understand the blockchain technology that is being hotly discussed in the
cryptocurrency community namely DeFi, Dapps and NFT.

DeFi, It stands for Decentralize Finance is a system on SmartContract which aims to provide financial services that are open, unlicensed, transparent and available to everyone without a centralized authority.

DeFi allows users to manage all digital assets like using a BANK, users can manage assets without
intermediaries, review 24 non-stop because the service will not close, easy access with smartphone devices and can reduce transaction costs. This is a technological advancement that is developing on the Blockchain.

Dapps, is an application used by users to interact with the blockchain. Dapp is an application that is peer to peer, does not have a middleman/intermediary so that users can conduct peer to peer (P2P) transactions directly between them.

For simplicity, DAPPS is a website/application created by project developers to make it easier for users to access their products. With DAPPS, users can easily access digital asset projects, especially cryptocurrency, anytime and anywhere. The user interface that is built by the developer is well connected and controlled by the user 's own permissions.

Many DAPPS have been created so far, be careful when accessing DAPPS or websites that have insufficient ratings. Several cases of cryptocurrency users lose their assets due to visiting or interacting with the application and allowing the application full control access to the wallet, so that their assets can be stolen and lost. This is called Phishing. It is highly recommended before accessing DAPPS to do research or see reviews from some users.

NFT (Non-Fungible Token) Collection, is a type of cryptographic token on the blockchain that represents a unique asset. These can be completely digital assets or tokenized versions of real-world assets. Since NFTs are not interchangeable, they can serve as proof of authenticity and ownership in the digital assets.

In other words, NFT is a type of collection token whose value depends on the NFT collecting community. Can I sell it? Yes, you can sell several projects that use NFT as their product, one of which is ENJIN. ENJIN has a community market. You can also visit DAPPS Opensea to sell NFT ITEMS using your Trust Wallet and store NFT collections in your Trust wallet.

An example of an NFT on the binance smartchain is the DEGO FINANCE project. You can visit the project via your Trust Wallet, please copy this URL: bsc.dego.finance. then connect your wallet and look for the NFT icon, and click MY NFT.

With some of the explanations above from the topic of DeFI, Dapps and Collections (NFT). We can easily join projects developed by developers in the blockchain field just by having a Trust wallet. Because the features owned by Trust Wallet can accompany you to surf and explore further the world of cryptocurrency. In the following I will give an example of accessing the Dapps Project DeFi that has been verified on the Trust Wallet Dapps.

We will visit the pancake project, use your Trust wallet and open the DAPPS menu, then paste the pancake.finance URL in the URL Box and enter. You can also directly choose pancakes on the list recommended by Trust Wallet.

Here you can do instant exchange, lend your digital assets in the liquidity pool and get a percentage fee for each user who exchanges.

Pancake provides a farming program and then gets a reward from the stake, and you can join the program without the permission of the central authority and it’s flexible. To join the program, you must first prepare a liquidity pool according to the pairs needed in the farming program, for example TWT - BNB with a price ratio of 1: 1 according to the market price (explained in the previous picture).

After having a liquidity pool, you can choose to farm according to your pair and start STAKE then get a reward from CAKE token.

Congratulations to you, because you are one step away from wanting to know the latest technology and systems that are currently being discussed by HYPE in the cryptocurrency community. By using the TRUST wallet, you can easily visit, access and carry out activities on the DeFi program that has been provided by the developed project.

For the DeFi project, not only pancakeswap, there are several projects that were built under the ETHEREUM network, namely UNISWAP and the TRON network, namely JUSTSWAP. Therefore, by having a TRUST multicoin wallet, you can easily join the liquidity pool, staking and farming program. Anytime and anywhere with just one application.