In this guide you’ll get information about where to buy Yearn.Finance, if you are planning to buy YFI token – You’re in the right place!
Yearn.Finance is created as a special aggregator service for DeFi investors. This decentralized platform uses automatic mechanism to enable them maximizes profits from their yield farming. The main purpose is rather simple and quite straightforward: It would simplify DeFi space (which is constantly and continuously expanding) for investors. These investors are typically those who want to interact within less committal method (than the serious traders) or those with almost zero technical minds.
Yearn.Finance was set out in February 2020, and it was originally known as the iEarn. As new products are introduced and launched, the platform has seen huge improvement and growth. Not to mention that developers start releasing the (in-house) token YFI. This platform was created of Andre Cronje. He has overseen everything, including the live YFI and new tools inclusion within the platform. Cronje has the experience in cryptocurrency, being synonymous especially with DeFi. The man also has crucial positions within the smart contract ecosystems of CryptoBriefing and Fantom.
- Official website: https://yearn.finance/#/home
- Twitter: https://twitter.com/iearnfinance
- Telegram: https://t.me/yearnfinance
- Reddit: https://reddit.com/r/yearn_finance
- Whitepaper: https://docs.yearn.finance/
Table of Contents
Yearn.Finance (YFI) Features
- Simple operation. Thanks to Yearn.Finance and its technology, DeFi investment can be made simpler and easier. After all, the main purpose of the platform is to simplify DeFi activities and investment, including yield farming, for wider and broader investors.
- Various helpful tools. Users should be able to find various tools that can act as DeFi protocols’ aggregator, like Aave, Compound, or Curve. The platform can help bring users staking cryptocurrency within the highest (possible) yield.
- Continuous development and growth. The platform always has new features. This is designed to help to preserve the platform’s long term value.
- Specific target market. The platform isn’t for everyone, even regular investors. This is a platform that is designed for investors not having the time to learn about the increasingly complicated DeFi system and phenomenon from the very beginning. This is also a platform for those who want to optimize their returns.
- Unique governance model. Year.Finance can change their governance model, depending on the agreed consensus within any time. For instance, they can charge withdrawal fees to make profits. regulations or policies can change, depending on the agreed consensus.
Where to Buy, Sell and Trade Yearn.Finance aka YFI
You can basically use debit card, credit card, or even PayPal to buy the Yearn.Finance (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Yearn.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 Yearn.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:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Yearn.Finance currency and exchange your Ethereum / Bitcoin / Tether with the Yearn.Finance
- Store your Yearn.Finance to a secured wallet
That’s the first step in buying Yearn.Finance, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
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 Yearn.Finance:
Gate.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+
Binance is the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now. Binance.com is unable to provide services to U.S. citizens or residents.
- Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
- Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
- Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 345+ more
- Trading Pairs: 1189+
Bybit is a leading cryptocurrency exchange offering a secure and efficient trading platform for digital asset enthusiasts. Founded in 2018, it specializes in derivatives trading, including perpetual and futures contracts, with high leverage options. Known for its user-friendly interface, Bybit caters to both novice and professional traders. The platform provides advanced tools, including charting and risk management features, ensuring a seamless trading experience. Bybit also supports spot trading, staking, and passive income opportunities. With 24/7 customer support, robust security measures, and a reputation for reliability, Bybit has become a popular choice for crypto traders seeking innovation and transparency.
- Deposit Methods: Cryptocurrency, Credit/Debit card, Third-party payment services, Peer-to-Peer (P2P) trading
- Fiat Currencies: USD, EUR, GBP, JPY, and 60+ more
- Supported Cryptocurrencies: BTC, ETH, XRP, LTC, DOGE, and 300+ more
- Trading Pairs: 500+
MEXC is a global cryptocurrency exchange platform known for its user-friendly interface, extensive range of listed cryptocurrencies, and innovative features. Established in 2018, MEXC provides trading services such as spot, futures, and margin trading, catering to both beginners and advanced traders. The platform supports a wide variety of altcoins, often listing new and promising projects. MEXC is popular for its high liquidity, competitive trading fees, and robust security measures, including two-factor authentication and fund protection protocols. It also offers staking and earning opportunities through its launchpad and DeFi integration, making it a versatile choice for crypto enthusiasts worldwide.
- Deposit Methods: Bank transfer (ACH), Cryptocurrency, Debit card, Wire transfer
- Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & more
- Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & over 2,700 others
- Trading Pairs: Over 3,000
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 YFI/BTC or YFI/ETH or YFI/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you YFI/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Yearn.Finance (YFI)
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 Yearn.Finance (YFI) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
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: 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 Yearn.Finance (YFI) 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 Yearn.Finance. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Yearn.Finance (YFI) 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 Yearn.Finance (YFI) with Skrill?
You can’t buy YFI directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Yearn.Finance. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy Yearn.Finance (YFI) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair YFI/BTC and begin the transactions.
Can I Buy Yearn.Finance (YFI) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support YFI/ETH trading pair.
What Is the Best Payment Method to Buy Yearn.Finance (YFI)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Yearn.Finance right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Yearn.Finance (YFI)?
Once you have purchased the Yearn.Finance, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Yearn.Finance (YFI)?
Find a crypto exchange which allow pairing YFI 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 Yearn.Finance (YFI) 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 Yearn.Finance is to buy it from a reliable exchange.
Conclusion
Investors who want to boost their investments despite their minimal knowledge of crypto mechanism, and their experience, can always take part in Yearn.Finance. The platform may not be for everyone, but it would be perfect for the right investors. However, users must buy Yearn.Finance (YFI) if they want to join the platform as it is the only way into the network.
