For the uninitiated, DeFi is the short term used for decentralized finance, a financial movement within the crypto universe that integrates open source software and decentralized networks into traditional, centralized financial products and services, to bring about a new, trustless, and transparent financial system that does not require any centralized authority figure or institution to control the users’ money and transactions.
2020 was dubbed the year of the DeFi, and it saw the rise of many new and exciting DeFi projects. In 2021, the DeFi movement still only grows stronger with every passing day, as we see older and newer DeFi projects alike attract more and more users. As of mid-April 2021, the total value locked in DeFi is already over $58 billion.
Now, with the sheer number of DeFi projects out there, we understand it might get difficult for traders and investors to choose the best DeFi coins to invest in or decide where to buy the best DeFi coins. To help you out a little and make the choice simpler for you, in this post we compile a list of the top 10 DeFi coins you should consider investing in this altcoin season!
Top DeFi Coins to Invest in in 2021:
1. Kyber Network (KNC)
One of the best DeFi coins you can invest in, KNC is the native token of the Kyber Network. The Kyber Network is essentially a blockchain-power liquidity protocol. The platform accumulates liquidity from quite a wide range of sources, and is capable of allowing safe and instantaneous transactions in any DeFi application. Kyber gives its users, as well as other decentralized applications and exchanges quick and easy access to a liquidity pool that provides them with the best rates.
KNC, also known as the Kyber Network Crystal, is an ERC-20 token that threads together users within the Kyber ecosystem. KNC has upgraded to the Katalyst protocol that launched a DAO (Decentralized Autonomous Organization) called the KyberDAO, and KNC can now be leveraged to vote in the protocol’s governance decisions.
On Delta Exchange, you can trade KNC against BTC and USDT, with 20x leverage in both cases. Perform a KNC-BTC trade, or go here for a KNC-USDT trade. For further information on the KNC-BTC contract, visit our website here.
2. Aave (AAVE)
Among the top DeFi coins is also AAVE, the native currency of the Aave protocol. Built upon Ethereum, Aave is a decentralized lending platform that gives out P2P or peer-to-peer loans with the aid of smart contracts. Aave was the DeFi project that brought about a feature known as ‘flash loans’. These flash loans are a short-term loan mechanism and also the very first uncollateralized loan option within the DeFi space. With this mechanism, a user can take out a loan instantly without any collateral- given that the liquidity is returned to the pool in the space of one Ethereum transaction block. In case that doesn’t happen, the whole transaction is simply reversed to undo all the functions executed until that point.
The coin AAVE is built based on the ERC-20 standard for tokens, and it is a deflationary crypto.
3. Chainlink (LINK)
LINK is the native asset of the Chainlink ecosystem, and it’s named among the best DeFi coins of 2021. Chainlink is a decentralized oracle network of nodes that provide real world data and information from off-blockchain reserves to the smart contracts on different blockchains. LINK is the currency used to pay for the various services within the Chainlink ecosystem.
Chainlink was designed with the goal to eliminate the security and authenticity issues that come with centralized oracles. The Chainlink ecosystem is instead built up as a decentralized network. The LINK crypto also serves staking purposes on the network.
4. Yearn Finance (YFI)
YFI is the native currency of Yearn.finance, an aggregator service that uses automation to allow investors to make the maximum profits off of yield farming. YFI is regarded as one of the top DeFi coins globally, as of April 2021.
Yearn simplifies the DeFi space and the notion of yield farming for investors who do not have the time to study about them in detail, are not technically minded, or intend to optimize their returns. Yearn.finance basically makes yield farming available to a broader investor sector.
5. Synthetix (SNX)
SNX is the native token of the Synthetix project, and it remains one of the best DeFi coins of today. Built upon the Ethereum blockchain, Synthetix is a platform built for the issuance of synthetic assets. The Synthetix protocol brings non-blockchain-based asset exposure to the global crypto markets, and helps critically in creating a diverse and mature financial space. Synthetix is compatible with different sorts of synthetic commodities like synthetic cryptocurrencies, synthetic fiat currencies, synthetic inverse cryptocurrencies, synthetic cryptocurrency indexes, and even precious metals like gold and silver.
The SNX token holders can stake their coins on the Synthetix platform and generate significant returns in exchange. On Delta Exchange, you can perform a SNX-BTC trade, or a SNX-USDT trade, with up to 20x and 50x leverages respectively.
6. Polygon (MATIC)
MATIC is the native currency of Polygon (formerly the Matic network), and is ranked among the top DeFi coins currently. Polygon is a Layer 2 scaling solution that aims to solve the scalability issues with most of the blockchain platforms out there at the moment.
The core component of Polygon is Polygon SDK, which is a flexible framework for developers to build a whole range of decentralized applications. The MATIC token plays a central role on the Polygon platform, by helping secure the system and giving holders governance voting powers.
7. Ren (REN)
REN, one of the best DeFi coins for you to invest in right now, is the native currency of the Ren protocol. Ren is an open-source DeFi project that facilitates private, permissionless transactions between various blockchains. Notably, Ren is the only open protocol that provides all DeFi applications access to inter-blockchain liquidity. RenVM, a trustless, decentralized network that offers cross-chain functionality to DeFi applications, is Ren’s primary product.
8. Basic Attention Token (BAT)
BAT or the Basic Attention Token is the native crypto token of the Brave web browser, and is one of the top DeFi coins of 2021. The token was made to be exchanged as currency between users, publishers, and advertisers on the Brave network, so they can access a number of advertising services.
With BAT, the Brave web browser intends to enhance the quality of virtual advertising in a way that would be advantageous to users, publishers, and advertisers alike. While users are on the Brave web browser, the BAT crypto would be used to track the time and attention they spend on various websites. Users will be able to choose what kind of advertisements they want to see, so the ads can be customized. This way advertisers can easily reach the truly interested users, and publishers get new sources of revenue.
On Delta, users can trade BAT against BTC with up to 20x leverage.
9. Cardano (ADA)
ADA, the internal cryptocurrency of the Cardano platform, is another of the best DeFi coins you can go for. Cardano is a cryptocurrency network that intends to solve the prevalent issues with the blockchain systems currently in use; Cardano was designed with the objective to develop a public blockchain system that comes with advanced smart contract functionality, and swift and secure crypto transactions, and is capable of housing even the most complex of decentralized applications.
ADA is named after ADA Lovelace – a 19th-century mathematician known as the first computer programmer; ADA was also the name of the daughter of the poet Lord Byron. On Delta Exchange, you can engage in ADA-BTC trading and ADA-USDT trading with 20x and 50x leverage respectively.
10. EOS (EOS)
EOS is the native currency of the platform that goes by the same name, and it’s included among the top DeFi coins you can buy right now. Launched back in 2018, EOS is a platform designed to enable developers to build decentralized applications with ease. The project intends to make the blockchain tech as straightforward as possible for new and veteran programmers alike, and provides a range of educational resources to help developers build fully functional dApps swiftly. EOS is also far more scalable a blockchain than most of its contemporaries.
With the delegated proof of stake consensus mechanism of EOS, users who own the EOS tokens can decide which representatives will become validators on the network. On Delta Exchange, you can trade EOS against BTC and USDT with up to 20x and 50x leverages respectively.
And there you have it, the top DeFi coins for you to invest in this altcoin season! We hope this post has helped you choose which one(s) you want to buy, and answered your questions regarding where to buy best DeFi coins!