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I'm Ready to Invest!
Investing in DeFi is a three stage process.
This guide references DeFi Basics and assumes you have an understanding of basic DeFi concepts as outlined on our DeFi Basics page.
First things first, you need a wallet.

How do I setup a wallet?

Deposit Fiat Currency on a Centralized Exchange

If someone will transfer ETH and other crypto tokens directly to your wallet skip to the creating a wallet with MetaMask. Otherwise, the first step is on-boarding fiat currency into a custodial wallet using a bank account or credit card and a Centralized Exchange (CEX) like:
Fiat currency is used to purchase ETH tokens on a CEX. Once the ETH tokens are available for withdrawal to a crypto address (wallet) outside of the it's time to create a crypto wallet for the Ethereum network. We recommend using MetaMask.

Create an Ethereum Wallet using Metamask

For a through guide to setting up a MetaMask wallet read our Installation and Setup of Metamask guide page.

Transfer Tokens from CEX to Metamask Wallet

Withdraw ETH (or another ERC20 token) from your Centralized Exchange Wallet and deposit the tokens in your Metamask Wallet.
[guide for this coming soon!]

Connect MetaMask to the DeFi Platform/Protocol

Use the MetaMask mobile app or using a web browser with the MetaMask extension installed to browse to the DeFi protocol you would like to participate in and follow the instructions on the website to start participating in DeFi.
We recommend joining Dracula Protocol.
Last modified 8mo ago