The investments identified on the MoneyMade website may not be purchased through MoneyMade rather, all transactions will be directly between you and the third-party platform hosting the applicable investment. MoneyMade is not a registered broker-dealer or investment adviser. For example, offers a DeFi wallet that's considered decentralized because you own your own private keys, unlike many exchanges that hold your private keys for you. However, they may offer both centralized and decentralized products. For example, most popular crypto exchanges are centralized in that they're controlled by a central entity-this can offer additional reliability and ease of use. While the principles behind cryptocurrency are steeped in decentralization, not everything in the crypto world is considered fully decentralized.
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DeFi, on the other hand, provides the infrastructure for faster and more efficient financial transactions while giving consumers greater access and full control over their finances. What's more, intermediaries often charge fees and have the ability to deny access to certain consumers at will. Proponents of DeFi argue that by being controlled by a single, centralized entity, traditional financial services are inefficient, discriminatory, prone to human error, and don't offer transparency to consumers. DeFi applications spread out or "decentralize" control by operating on blockchain technology (usually Ethereum) and using open-source code that anyone can program.
Decentralized finance (DeFi) is a method of implementing financial services (from payments to lending to saving, trading and investing) that don't rely on a centralized intermediary such as a bank, brokerage, marketplace, advisor, or other financial institution.
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