How to buy DeFi crypto?

Before going all-in on a DeFi crypto, always DYOR, there are a lot of cryptocurrencies out there that might seem promising at first, but they are, in fact, flawed.
Start analyzing their whitepaper, identifying if they have experience in the field or whether their token and protocol has utility. If the token is another reiteration of a mirror of an already protocol that provides high rewards, rethink your approach.
Another important aspect is identifying the network protocol the token is developed and how it can be obtained. This is necessary if the DeFi token is only available on Ethereum DEXs like Uniswap. If they are available on others like Solana or Binance Smart Chain, the processes are similar; only you will use others differently.

Download a wallet such as Metamask or Trust Wallet, which can be used across multiple chains. These wallets make it easier for you to access several networks without worrying about losing or forgetting your secret key.
If you buy a DeFi token from a centralized exchange, you will be using their platform wallet. It’s always safer to transfer all funds to your own wallet to prevent any possible loss of funds. If you don’t own the keys, then they are not your tokens.

Always store your wallet password and secret key in a secure phrase. The security key allows you to access your funds from anywhere. It’s recommended that you don’t store your secret key on the computer. A good security practice is to write down your secret phrase multiple times. For example, write your secret key in an agenda and on a piece of paper and also store a file with the secret key on a USB stick.

Use platforms such as CoinMarketCap or CoinGecko to check where you can buy or trade DeFi crypto. The platforms above have a “Markets” section that shows a token’s liquidity, pairing, and whether you need to trade or swap your token.

Buying a DeFi token on a DEX differs from purchasing one on a Decentralized Exchange (CEX) such as Binance or Coinbase.
On a CEX, you can send crypto or deposit using other FIAT methods. Then they trade the token to other cryptocurrency pairing or use stablecoins for conversion.
The process involves multiple stages when buying a DeFi crypto from a DEX such as UniSwap or SushiSwap. First, users must have Ethereum in their wallet or other ERC-20 tokens. Then they have to connect their wallet to the platform and ensure that their wallet is on the Ethereum wallet.
On a DEX, trading is called swapping, and this is because you are transacting with other traders’ liquidity. Each trade is done via a swap and is usually paired to ETH. Because everything is taking place on the Ethereum blockchain, users must pay transaction fees (gas). Users pay gas fees on top of the already set swap amount, and Ethereum fees can fluctuate during periods of higher network usability.

After setting the wallet transaction, then you own the tokens in your wallet, and you can use the same process to swap them back. If you bought tokens from a CEX, copy your wallet address and send your tokens to your secure wallet. What’s of utmost importance is to never share your secret keys with anyone and keep them safe.