Your Weapon Navigating the Decentralized World

7 must-have tools for DeFi

When you start dipping your toes, don’t come into the space empty-handed. Decentralized Finance activities are quite different than trading like you previously know of. It requires different tools to navigate on-chain. Make sure you arm yourself properly.

Because as I wrote before, DeFi ain’t easy. It can be confusing to navigate and keep track of things. On top of that, there are security measures to consider. Don’t get your money stolen through scams and hacks.

This article is part of my Beginner DeFi series, which so far consist of 2 articles:

• Investing in crypto is not just buying and holding tokens. Why do we DeFi?
• Picking a smart contract platform

Hardware Wallets

Hardware wallets are a must when you start doing DeFi. I know what you’re thinking. You might want to try around with just metamask or hot wallet with a little money first.

But from experience, I have to tell you that eventually, you’ll find yourself growing your portfolio into an amount that no longer can be considered “experinment money.” The bigger the portfolio, the more dApps you interact with, the greater the security risk. Also, as your portfolio gets more diverse and your tokens are staked and farmed everywhere, the more difficult it is when you have to migrate to a hardware wallet.