Buying DeFi stocks for Dummies

If you want to learn how to buy Dash (DASH) for beginners, then this post is for you. This write-up will teach you about what DeFi is, and how to invest in the space. I will also provide step-by-step instructions on how to buy DASH and some buy/sell signals that you can follow.

The crypto market has been highly volatile lately, and it is still too early for most people to jump in. Today, we will try to answer a question: Should I buy DeFi Stocks?

Despite the huge hype surrounding cryptocurrency, the technology has yet to be adopted as part of a normal user’s everyday life. All of the world’s currencies are decentralized, or decentralized to some extent, but not cryptocurrencies. Sure, you can buy stuff with them, but how many of you have fully embraced the idea of using them as a payment method? And why haven’t the major tech heavyweights embraced it? Because, they’ve either been too busy developing their own coins, or because they have no real interest in it.. Read more about best defi projects to invest in and let us know what you think.

In this quick guide, you’ll learn step-by-step how to buy synthetic stocks, from creating a cryptocurrency wallet to logging into DEUS Finance and trading your first stock.

Do you want to enter the stock market, but don’t know where to start? There are popular brokers like Robinhood, but you’ve heard of their famous trading bans. You are looking for the best solution, one that gives you full control of your assets, eliminates the middleman and avoids the hassle and expense of a broker.

Synthetic stock trading on DeFi is an excellent alternative to traditional stock trading. The obvious platform for deFi stock trading is DEUS Finance.

DEUS is a platform where you can extract and trade any verifiable asset (called dAssets) that is 1:1 linked to the real price. It is secure, transparent, requires no KYC documents and is fully decentralised. No more brokers! So let’s start trading stocks on DEUS Finance.

Go to https://deus.finance/ and click on START TRADING.

Connect your crypto-currency wallet

Click CONNECT PORTFOLIO in the upper right corner of the screen.

If you don’t already have a wallet, you should buy one.

Buying DeFi stocks for Dummies

DEUS supports multiple portfolios. A common portfolio is Metamask, so we choose that one. You will need the Metamask extension for your browser if you do not already have it. Go here and click Add to Chrome.

Buying DeFi stocks for Dummies

After adding Metamask, you will be asked if you want to import an existing portfolio or create a new one.

Select Create Wallet and create a secure password. After creating the password, you will see the backup passphrase. It is recommended that you write your seed phrase on a piece of paper and keep it in a safe place. Reliable storage of this sentence is essential. If you lose access to your portfolio, you can use this package to import your funds into a new portfolio. Read tips on how to secure your penalty here.

Once you complete this step, the portfolio is created.

Go back to https://deus.finance/ and click on CONNECT PORTFOLIO. Select Metamask and a pop-up window will request access to DEUS Finance. Press the NEXT button. Congratulations, you are connected!

Network selection

DEUS Finance is a blockchain-independent platform, which means you can interact with DEUS on multiple blockchains, not just ETH. Sometimes using ETH can be quite expensive due to high gas costs, so many users opt for alternatives like xDai or BSC. For simplicity, let’s use the ETH network. If you want to change networks in the future, just hover over the Synthetic tab at the top of the page and select the network you want.

Buying DeFi stocks for Dummies

To buy shares in the ETH network, we need DAI. Let’s go get some.

How to buy DAI

Click on the SWAP tab at the top of the screen.

Buying DeFi stocks for Dummies

Enter in the top field how much ETH you want to exchange into DAI. Then click on SWAP.

This opens the Metamask extension, which displays the price of gas in dollars. When you are satisfied with the amount, press CONFIRM and wait for the transaction to complete. If the price of the gas is too high or if you want to cancel the transaction, just click REJECT.

Buy your first share

Now that we have the DAI, let’s go back to the Synthetics tab. As before, hover over Synthetics at the top of the screen and select ETH from the drop-down list.

Buying DeFi stocks for Dummies

Click on the box below and type in TESLA to find TSLA shares.

Buying DeFi stocks for Dummies

Click on TSLA. Now enter the number of DAI you want to trade in dTSLA in the top field and choose whether you want to be LONG or SHORT.

When you have made your choice, click on the APPROVAL button. On your first transaction on your ICD, you will be asked to grant DEUS Finance access to issue your ICD. Metamask will open and ask you to confirm. After confirmation, the APPROVE button changes to SYNC. Once you click SYNC, Metamask will offer you a transaction fee again.

You can exchange your dTSLA shares for DAI shares by clicking on the small exchange arrow.

Buying DeFi stocks for Dummies

Congratulations, you have just traded your first synthetic share on DEUS Finance.

Decentralised funding is becoming increasingly popular. Incidents like the GME scandal at Robinhood only make traders more suspicious of exchanges and centralized brokers. Thanks to platforms like DEUS Finance, traders now have a legitimate alternative where third-party trust is not required and users have full control over their decisions.

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Stock trading on ETH, xDai and BSC

Here you can buy the DEA protocol token.

Download here the mobile application of DEUS Finance.

DEUS V2 coming soon with new funding system, leveraged trading and more.

For more information about DEUS V2, click here.So many people have been diving into Crypto for the past year, but it’s still not enough for everyone. There are now more podcasts, websites, and articles about Cryptos than ever before. It’s a new space, and people are starting to get it. But many people still have no idea what it means to buy crypto-currencies.. Read more about defi crypto stock and let us know what you think.

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