When it comes to decentralized finance, or DeFi, Bitcoin is often left out of the conversation. That’s because, unlike other DeFi projects, Bitcoin doesn’t run on a smart contract platform like Ethereum.
However, that doesn’t mean that Bitcoin can’t be used in DeFi. In fact, there are a number of ways to use Bitcoin in DeFi, and some projects are even built around the cryptocurrency.
So, is Bitcoin a DeFi coin? The answer is complicated. While Bitcoin can be used in DeFi protocols, it’s not native to the space.
And because of that, many in the DeFi community don’t consider it to be a “true” DeFi coin. Nevertheless, there’s no denying that Bitcoin has a place in the world of decentralized finance.
As the original cryptocurrency, Bitcoin has a long history and a large community. It’s also one of the most popular and valuable cryptocurrencies in the world.
For these reasons, some believe that Bitcoin will eventually come to dominate the DeFi space. Only time will tell if that prediction comes true.