We know that there have been several altcoins with amazing results in the last months, and one of these virtual currencies was Yearn.Finance (YFI). If you ware wondering how to buy Yearn.Finance, in this guide we will explain to you how to do so in just a few simple steps.
In recent months, the decentralized finance (DeFi) market attracted a large number of users and investors. This is why Yearn.Finance became a flagship digital asset for the entire ecosystem. At the time of writing this post, Yearn.Finance has a price per coin of $15,394 and a market valuation of $461.35 million. A few months ago, YFI reached $40,000 per coin, the largest price ever registered by this virtual currency.
How to buy Yearn.Finance (YFI)?
To buy Yearn.Finance, you will have to create an account at any exchange available in your region. For example, you can use directly Binance, one of the largest and most popular platforms in the world.
Once you create an account, you will get access not only to Bitcoin (BTC), Ethereum (ETH) and Liteocin (LTC), buy you will also get exclusive access to some of the latest altcoins released to the market, including Yearn.Finance.
Step 1 – Create an Account in a Cryptocurrency Exchange
If your question is how to buy Yearn.Finance, you should open an account in a cryptocurrency exchange. As we mentioned before, Binance is going to be a great way to buy Yearn.Finance because it offers you direct access to it through different methods.
Binance is currently available in a large number of countries, making it easier for you to get access to it. You can even use your local currency to buy Yearn.Finance and other digital currencies.
Step 2 – Add Funds to Your Account
Adding funds to your account is going to be a key thing to buy Yearn.Finance. You will need money to buy it, that’s obvious. This is why you can select a method to deposit funds to your account. You can use your debit card and deposit fiat currencies, you can use a credit card and purchase Bitcoin or Ethereum, that will later be used to buy Yearn.Finance, or you can even deposit funds with your bank account.
In the “Buy Crypto” section that you will find in the main Binance screen, you will be able to select the deposit method you desire. This would allow you to deposit funds in the platform and buy Yarn.Finance.
Step 3 – How to Buy Yearn.Finance (YFI)?
Excellent, now that you have your funds in Binance, you will be able to buy Yearn.Finance and get access to some of the best altcoins in the world. At the same time, Binance is offering users with the possibility to invest in other solutions and products related to the Decentralized Finance (DeFi) market (for example).
If you want to know how to buy Yearn.Finance, then you need to go to the “Trade” tab in the main menu of the exchange. This would allow you to select different exchanges, including the basic one, the classic platform and the advanced solution for more exigent traders. The platform you select is going to change your trading experience.
If you want to go directly to buy Yearn.Finance, the best thing you can do is to select the “Basic” option. If you want to select the price at which you want to buy it, get some technical tools and see the chart of the digital asset, then you should go to the Classic or Advanced view.
Step 4 – Store Your Yearn.Finance
We know that when we use exchanges they are controlling our funds. They are the custodians of our money and digital assets. This is why we need to take into consideration that we can always withdraw our funds and control them at all times.
There are different Yearn.Finance wallets that you can use. Indeed, considering this is an ERC-20 digital asset, you will be able to use most wallets that support Ethereum and other altcoins. However, before you use your wallet, be sure that it will be accepting Yearn.Finance and that is compatible with it.
Some wallets that you can use include Metamask or Ledger Nano S / X, among others.