DeFi vs crypto: What's the difference?

Decentralized finance or DeFi is a collective name for financial services platforms that use blockchain technology to provide services that were normally restricted to traditional finance before the creation of Bitcoin in 2008. DeFi services includes exchanges, lending, borrowing, savings, and high interest or yield platforms. They are controlled by smart contracts written by developers on Ethereum or other blockchains. Users can interact with these platforms and access DeFi services using compatible web browsers and wallet plug-ins know as Web 3 wallets because they bring users closer to their funds and transactions.

Crypto, by contrast is a collective name for all digital assets starting from Bitcoin that have a common objective of serving as more reliable rather than arbitrary and centralized medium of exchange, store of value, and unit of account. Unlike fiat money, crypto is decentralized money.