The Solution: a Decentralized Custodian

Ren is a decentralized custodian which holds your Bitcoin or other cryptocurrencies on your behalf without the counterparty risk. It makes sure to exchange your Bitcoin with an ERC20 token (renBTC) which is worth exactly 1 BTC. Of course, you can then redeem your renBTC after you are done experiencing with DeFi for an actual Bitcoin without any slippage at any time. With your renBTC, you can access the world of DeFi and put your Bitcoin to work to make money instead of let it stand by in your wallet.

Below I describe what can be done with ETH in DeFi today but soon you will be able to do the same with your renBTC. For example, you can:

Take a synthetic long position on Gold or a synthetic short position on XRP via Synthetix. Borrow some Dai on MakerDAO, keep your renBTC and pay your daily groceries. Lend it to people in demand and earn interest in Compound. Take a leverage position on ETH via DyDx. Become a liquidity provider on Uniswap. …

By bringing your BTC to RenVM, you discover a whole new world in crypto. RenVM works effortlessly and is built on the Ethereum network so the transactions go pretty fast, all in a decentralized way, without any centralized entity. To learn more about RenVM, I recommend you to read this article: How RenVM actually works?

To secure the network, Darknodes are used and that’s why I have invested in Ren.