Decentralized finance (DeFi) is a popular new concept of blockchain technology inspired by the autocratic tendencies of established centralized financial institutions (CeFi) like traditional banks, insurance companies, etc.
This DeFi solution has been widely accepted through the explosion of crypto usage. However, most DeFi platforms lack the advantages that CeFi institutions have developed over the years, for example, validation and physicality.
AgoraBank is a crypto bank that combines the advantages of CeFi and DeFi (that is, CeDeFi) to offer users the best of the world from the comfort of their homes. Enjoy this benefit here.
Decentralized banks with traditional banking
Agora Bank developed by a diverse team of experienced professionals who combine extensive individual experience in the traditional financial and cryptocurrency industries to create a comprehensive platform for financial services.
Through blockchain technology, many crypto platforms known as dApps (decentralized applications) have recently developed in the technology and finance space. It has made peer-to-peer financial services accessible to people and has quite decentralized the world of finance.
However, the easily accessible nature of blockchain technology makes it vulnerable to exploitation by scammers, reducing trust in crypto platforms.
AgoraBank combines traditional and decentralized bank legitimacy in one application. Built with BNB and Ethereum Support, It is a decentralized blockchain platform that distributes ownership and management among users.
However, unlike other dApps, which only have an e-money license, AgoraBank is an audited platform with a banking license. It creates a legitimate decentralized platform that people can trust with their money.
In addition to legitimacy and decentralization, with AgoraBank, users can combine cryptocurrency with regular finance and buy, loan, borrow, trade, exchange, or build a career with financial assets without having to visit a bank or intermediary.
Watch the AgoraBank trailer here:
Features of DeFi AgoraBank (Crypto Banking)
AgoraBank allows you to create or access a crypto wallet that allows you to manage digital assets and services. The platform also promotes wallet interoperability for better access to extensive financial services both on-chain and cross-chain.
This is the original token of the AgoraBank platform. With support for various blockchains like BNB and the Ethereum network, this token allows users to access several crypto benefits such as assets, exchanges, governance, etc., on the AgoraBank platform.
Created by well-experienced financial experts, the tokenomics of the coin allows it to remain valuable or even increase in value. For example, only a limited number of tokens (300 million units) will be released to avoid oversupply that reduces their value.
AgoraBank supports many crypto coins and allows buying, selling, and exchanging these crypto coins at a low cost. It allows users to access decentralized exchange services, similar to stock exchanges or foreign exchange services offered by traditional banks but based on crypto assets.
Users can buy and sell crypto assets when their values change for profit, or they can simply exchange one coin for another coin of their choice for any reason. They can also invest in crypto assets for future benefits.
This is the main difference between traditional banking institutions (CeFi) and modern blockchain financial institutions (DeFi). Traditional banks have centralized management, and this creates intermediaries between users and financial assets/services, which limits transparency.
AgoraBank uses decentralization and peer-to-peer transactions to give users a sense of how their financial assets are managed. Agorabank users are part of the platform, and can form a Decentralized Autonomous Organization (DAO) to choose the policy that will guide the operation of the bank.
Features of CeFi AgoraBank (Traditional Banking)
AgoraBank Debit Card
Unlike other decentralized financial platforms, which are all based on applications, AgoraBank provides users with digital applications and debit cards, banking tools that must be used from traditional banks. It provides users with multiple ways to do bank transactions and makes it easy for the average person to start using the platform.
Unlike some crypto platforms with uncertain coins, AgoraBank has smart tokenomics, which preserves the value of the platform’s tokens. This and the fact that the platform is built for banking allows users to use the wallet on the platform like a savings account if they want to.
Lending and Borrowing
This is a financial service that is usually offered by traditional banks that can physically verify the parties involved, but Agorabank intelligently combines this feature with decentralized technology. Through peer-to-peer transactions or decentralized exchanges, users can lend crypto assets or borrow from other platforms or users, with AgoraBank acting as a trusted intermediary.
Other benefits of AgoraBank
- Become an Agora Citizen to get citizen rights like Agora NFT, AirdropsEarly Access, VIP status, etc.
- Join the Agora adventure and turn XP (experience points) into cryptocurrency.
- Invite people to invest in AgoraBank and earn up to 45% commission on decentralized exchange transactions and up to 9% on ICO investments.
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