How To Get Yfi Crypto

How it works and where to buy learn more about what yearn finance does why the yfi token is useful and where to buy it.

How to get yfi crypto. Yfi has been lis t ed on a number of crypto exchanges unlike other main cryptocurrencies it cannot be directly purchased with fiats money. Ftx is a cryptocurrency derivatives exchange built by traders for traders offering a wide range of products from perpetual contracts on popular cryptocurrencies to leveraged tokens that can amplify profits up to 1 000. How many yearn finance yfi coins are there in circulation. Until now only 30 000 were minted and fully distributed. There are basically 3 ways of earning the yfi tokens which can be explained briefly as below.

Yearn finance in house token yfi has a fixed supply of 30 000 coins. This can be further exchanged for the bal balancer protocol tokens in return. Users need to stake their yfi in a governance contract to get voting rights. Then a new stake unstaked button will appear. Before you can stake ytokens be sure to provide liquidity to curve s ypool by going to this page and connecting your web3 wallet.

However you can still easily buy this coin by first. Yearn governance token yfi yfi erc20 token is the platform governance token and can be used in doing governance activities like voting on a proposal for protocol upgrade change. In order to buy yearn yfi you ll first need to sign up to ftx exchange. There are no guarantees of a successful outcome or that the token will remain valuable. Yearn finance yfi can be sent directly to your myetherwallet address along with any other erc20 coins you wish to keep safe.

Once done you will be able to get ytokens. Check out cmc s blog for more on yfi. The first method includes the deposit of a mixture of about 98 2 mix of dai and yfi into the balancer protocol. According to coingecko coinbene has a relatively low trust rating indicating it might not necessarily be the best platform to explore from a cybersecurity point of view. Risks of buying yfi it s important to remember that yfi is an experiment and a work in progress.

In particular it s essential to remember that yearn is a public open source project which anyone can copy at any time. Visit the official myetherwallet help page in case of any issues. Click it and confirm to spend your ytokens.