How to Buy Beefy Finance (BEEFI) in 2022: A Simple Guide

Beefy.Finance (BIFI)In this guide you’ll get information about where to buy Beefy Finance, if you are planning to buy BEEFI token- You’re in the right place!

Beefy Finance is a multi-chain yield optimizer where crypto holders can earn compound interest in a decentralized manner with safety and efficiency in mind. Beefy automatically optimizers rewards received by the users from various AMM projects, LPs, and other yield opportunities through a set of investment strategies enforced and secured by smart contracts. The main product of Beefy Finance is the ‘Vaults’ that let users stake their crypto tokens using certain investment strategy that can automatically increase their deposited tokens.

The strategy allows users to withdraw anytime they want as their funds are never locked in any vault on the network. It also means that users have 100% control of their crypto while having funds staked in a vault. In running the network, BEEFI tokens are used as the utility and governance token, allowing users to vote on important platform decisions and to earn profits generated by Beefy Finance.

Beefy Finance (BEEFI) Features

  • Beefy Vault. This is an investment instrument comprising a set of yield farming strategies. It automatically invest and reinvest deposited funds, allowing users to get the high levels of compounded interest. The Beefy Vault allows users to save their precious personal time in compounding their gains. The vault harvest and sell rewards, buy more tokens, and reinvesting tokens automatically at a high frequency.
  • Launchpool. This service enables the promotion of exciting projects on Binance Smart Chain. The promotions boost specific vaults with the partners token that eventually gives the users/investors the highest APY.
  • Beefy’s Vault Strategies. This is form of modular smart contracts that give information about the type of assets to farm, and where the farm assets should be sold. Rewards are harvested recurrently, swapped for the original vault asset, and deposited again.
  • binSPIRIT. It is the Beefy wrapped version of SPIRIT that enables holders to earn protocol fees without locking their token. binSPIRIT can be minted or bought on an exchange, and can be staked in the vault or in the reward pool to receive more SPIRIT.

Where to Buy, Sell and Trade Beefy Finance aka BEEFI

You can basically use debit card, credit card, or even PayPal to buy the Beefy Finance (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Beefy Finance as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy  Tether first. After you get the ETH or BTC or USDT, you can convert it to Beefy Finance. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.

In general, the process would be:

  1. You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
  2. Find a crypto exchange that supports Beefy Finance currency and exchange your Ethereum / Bitcoin / Tether with the Beefy Finance
  3. Store your Beefy Finance to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)

There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

Get $10 Bonus when you sign up for Coinbase!

coinbaseClick here to register (opens in new tab)

  • You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
  • Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
  • You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.

That’s the first step in buying Beefy Finance, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.

Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments

After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.

With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.

These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Beefy Finance:

GATE.io
gate.ioGate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.

  • Deposit Methods: Cryptocurrency Only
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
  • Trading Pairs: 1801+

IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the BEEFI/BTC or BEEFI/ETH or BEEFI/USDT trading pair and then place the order to buy those pairing cryptocurrencies.

Most likely you’ll find this pair available to you BEEFI/USDTso you need to convert your BTC or ETH to USDT first in order to buy Beefy Finance (BEEFI)

Step 3: Managing Your Crypto Assets in a Secure Wallet

As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.

You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.

There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.

For Securing your Beefy Finance (BEEFI) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

Frequently Asked Questions (Faqs)

Can I Buy Beefy Finance (BEEFI) with PayPal?

You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Beefy Finance. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Beefy Finance (BEEFI) with Cash?

You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:

  • Make sure you have a BTC / ETH wallet before you buy from seller
  • Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.

Can I Buy Beefy Finance (BEEFI) with Skrill?

You can’t buy BEEFI directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Beefy Finance. You can buy BTC/ETH with skrill by using these exchanges::

  • LocalBitcoins
  • Paxful
  • Virwox
  • SpectroCoin
  • Lykke
  • Exmo
  • Coingate

Can I Buy Beefy Finance (BEEFI) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BEEFI/BTC and begin the transactions.

Can I Buy Beefy Finance (BEEFI) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support BEEFI/ETH trading pair.

What Is the Best Payment Method to Buy Beefy Finance (BEEFI)?

The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Beefy Finance right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect Beefy Finance (BEEFI)?

Once you have purchased the Beefy Finance, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Beefy Finance (BEEFI)?

Find a crypto exchange which allow pairing BEEFI with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine Beefy Finance (BEEFI) and Not Buying It?

You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Beefy Finance is to buy it from a reliable exchange.

Conclusion

Not only has Beefy Finance opened up an opportunity for the users to automate and optimize their holding’s revenue like other DeFi Yield Farm, it serves as a hub for people with the same vision. Designed to be one of the most trusted Yield Optimizers, Beefy Finance enables users to undergo the best experience in using the network. By investing in Beefy Finance (BEEFI), you are investing in the idea that anyone can come together and build the future of DeFi.

Leave a Comment

error: