Decentralized financing solutions (DeFi) have already proven to be the best alternatives to traditional finance driven by the need for an open, secure and transparent financial system. With DeFi, users can take advantage of lower transaction rates, higher interest rates or the opportunity to diversify investments. There are therefore several surprises when it comes to decentralized finance that are emerging as an alternative to the existing financial system for these reasons. The bottom line is that while blockchain technology keeps your network secure, it does so at the expense of annoying users.
Unfortunately, like other promising technologies, blockchain is vulnerable to problems that can affect its use. Before DeFi became widespread, many burdensome entry barriers prevented the average user from accepting it. First, it is difficult for people to rely on unstructured open source. While the traditional financing system requires appropriate licenses and regulators, the requirements in the DeFi area are not always the same, which increases the potential risk that users have to take.
In addition, others find that the user interface of these technologies is too complex, making the understanding of these protocols a skill few can master. One of the reasons is the need to connect uncleared wallets to the DeFi application, which requires several steps. It also raises concerns that users will lose their keys or passwords or be stolen, as there is no way to recover these funds. At this time, many believe that DeFi today is aimed at those who are familiar with crypto, in other words those who have been in the industry for a while, have extensive knowledge of the field and have enough funds to try out innovations as they come up. look. .
Wirex aims to easily bring users to DeFi. To do this, the platform seeks to democratize crypto by creating a bridge between DeFi and traditional financial infrastructure, thus solving many of the problems that hinder mainstream adoption today. The Wirex team continues to actively seek licenses wherever they exist and maintains a high level of compliance and security where none exists. This allows the team to set an example for the rest of the cryptocurrency space.
Roadmap for mass use
The Wirex platform uses powerful internal technology to provide customers with complete security, demonstrated by features that make it easier for users to access DeFi. Among them is the new X Accounts accumulation feature. Users can unlock additional benefits such as up to 16% interest on crypto and fiat money with X accounts. *
DeFi operations and trim are further simplified and user experience is a priority for the team. Opening an X account will give users instant access without requiring any minimum inventory or maintenance fees.
The most important thing is that Wirex has a long-standing reputation for maintaining and prioritizing customer safety and security, to ensure customers that their money is safe.
More information about WIREX here
Just last year, Wirex became a major crypto member of both Visa and Mastercard – a highly respected achievement for fintech companies.
Pavel Matveev, CEO and co-founder of Wirex, shares that “their mission has always been to give anyone access to the benefits of the digital economy, and we have been looking to expand this into the DeFi sector with the launch of X Accounts,” which as a result “has been opened over 55,000 accounts.” “We can expect more explosive growth only when we release new features for our customers,” concludes Pavel.
Current growth plans
The team does not plan to stop there. By the end of the year, the team also had plans to launch its products in the United States, giving Americans the opportunity to buy, hold, trade, sell or use crypto anywhere Visa is accepted.
These growth plans coincide with a continued focus on UI development, as many new features will enhance existing mobile apps. The goal is to give users more market insight and more choices in how they manage their transactions by making it a digital payment platform.
