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.
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
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.
Get $10 Bonus when you sign up for Coinbase!
- 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 Yearn.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 Yearn.Finance:
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.
- 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::
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.
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.