PayID is a secure payment system that links your bank account to an email or phone number. It allows instant transfers between Australian banks and is widely supported by crypto exchanges.

How do I buy Bitcoin with PayID?

Sign up with a registered exchange, verify your identity, select PayID as your deposit method, transfer AUD, and buy Bitcoin instantly.

Is PayID safe for buying Bitcoin?

Yes — PayID is backed by Australian banks and complies with AUSTRAC regulations. It offers fast, secure transfers and is ideal for crypto purchases.

What Is DeFi? (2026 Beginner Guide)

Updated: 20 July 2026 • Written by Darren • CoinTrack Australia

DeFi — short for decentralised finance — is basically a new way of doing money on the internet. Instead of banks, paperwork, and waiting on hold for customer support, DeFi runs on blockchain tech and smart contracts. It lets everyday Aussies borrow, lend, trade, and earn rewards straight from a crypto wallet. This guide breaks down what DeFi is, how it works, and how to use it safely in 2026.

Quick note: CoinTrack isn’t licensed by ASIC and doesn’t give personal financial advice. This page is general information only. DeFi platforms are not regulated by ASIC, and using them comes with risks like smart‑contract bugs, scams, and market volatility. Always do your own research.

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What is DeFi?

DeFi is a collection of financial apps built on blockchains like Ethereum, Solana, and Avalanche. Instead of banks or brokers, DeFi uses smart contracts — bits of code that automatically handle things like lending, borrowing, trading, and earning rewards.

How DeFi works

Everything in DeFi runs through smart contracts. These are self‑executing programs stored on the blockchain. They remove the middleman, cut down fees, and make transactions fast.

Smart contracts: Code that performs financial actions automatically.
Liquidity pools: Crypto supplied by users to power trading and lending.
Decentralised exchanges (DEXs): Trade crypto directly from your wallet.
Yield farming: Earn rewards by providing liquidity.
Staking: Lock crypto to support a network and earn rewards.

Popular DeFi platforms

Here are some of the biggest DeFi ecosystems Aussies use:

Ethereum

The largest DeFi ecosystem with thousands of decentralised apps.

View Ethereum price

Solana

Fast, low‑cost blockchain used for high‑speed DeFi transactions.

View Solana price

Avalanche

Low‑cost DeFi network with quick confirmation times.

View Avalanche price

Why people use DeFi

DeFi gives users more control over their money. Instead of relying on banks, you interact directly with smart contracts and decentralised apps.

Benefits of DeFi

Open to anyone with a crypto wallet
No banks or intermediaries
Lower fees and fast transactions
Earn rewards through staking and liquidity
Transparent and decentralised

Live DeFi market chart

Track the latest Ethereum price using our TradingView partner chart.

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How to start using DeFi

The easiest way to begin is by buying a cryptocurrency like Ethereum or Solana, then connecting your wallet to a DeFi platform.

Create a Digital Surge account.
Verify your identity.
Deposit AUD using PayID.
Buy ETH or SOL.
Connect your wallet to a DeFi app.

Start with Digital Surge

Frequently asked questions

Is DeFi safe?

DeFi can be safe, but it comes with risks like smart‑contract bugs, scams, and market volatility. Always research platforms before using them.

Do I need a bank account?

Nope — DeFi works with crypto wallets, not banks.

Can I lose money?

Yes. Prices can drop, smart contracts can fail, and scams exist. Only invest what you can afford to lose.

Continue learning

What is blockchain?

Disclaimer: This page is general information only and not financial advice. Crypto is volatile and risky — consider speaking with a licensed financial professional if you need personalised guidance.