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How to buy Harvest Finance (FARM)
A beginner's guide to buying and selling FARM in the US.
How to buy Harvest Finance
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Harvest Finance.
- Open an account on an exchange that supports FARM.
Most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Harvest Finance.
- Buy Harvest Finance.
Complete your Harvest Finance purchase and then find the best wallet to store FARM.
What is Harvest Finance?
Harvest Finance is a yield farming aggregator.
It works by letting users pool their funds together, which the protocol then invests into various yield farming strategies to get the best returns according to a pre-programmed strategy. It does so by automatically switching between various DeFi protocols, saving users the hassle of having to chase the highest paying strategies themselves. Doing so reduces gas fees for the individual, as well as helps deliver substantial returns without the need for constantly switching between farming protocols.
The FARM token is the protocol’s native token that is awarded for using the protocol. Owning it gives the following benefits:
- Voting rights over how the Harvest Finance treasury is spent and the protocol is developed.
- FARM can be staked in return for iFARM, which is used to earn additional FARM tokens. iFARM acts like a coupon and can be traded back for FARM tokens at any time.
- While holding iFARM tokens, users are rewarded with 30% of the platform’s yield profits in the form of FARM tokens. Additional FARM is distributed weekly via the Farm emissions pool.
FARM tokens can also be earned by simply using the platform and depositing various assets.
Harvest Finance (FARM) is the 329th largest cryptocurrency in the world by market cap, valued at $127,689,131. The current price of Harvest Finance is $243.130, which is -0.847% lower than yesterday. Prices have ranged between $256.280 and $218.760 over the past 24 hours. All prices are listed in US dollars and accurate as of April 21, 2021 05:04 UTC.
Where to buy Harvest Finance
Unfortunately at this time no major exchanges offer Harvest Finance. However, you may be able to purchase FARM with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Instead of buying Harvest Finance, consider buying a different cryptocurrency after comparing popular exchanges.
Harvest Finance coin priceUse our graph to track the performance of FARM over time.
Harvest Finance at a glance
|Total FARM supply||569,925|
|All time high||US$5,078.470|
Harvest Finance price performance over time
How to sell Harvest Finance
You can cash out your FARM with the same exchange you bought it through:
- Sign in to the exchange you have FARM on.
If you store your Harvest Finance in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of FARM you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Harvest Finance.
What to consider when buying Harvest FinanceYield farming is a particularly high-risk part of the cryptocurrency ecosystem due to potential vulnerabilities in code or unscrupulous developers. This was highlighted in October 2020 when the Harvest Finance was the victim of a hack that saw $24 million stolen from the platform. Before buying FARM tokens, consider the following:
- Counter-party risk: Harvest Finance is a yield aggregator, which means that it takes users funds and deposits them on various other platforms to earn interest. This means that users’ funds are exposed to several other platforms in addition to Harvest, which may have their own set of vulnerabilities and risks.
- Competition: Yield aggregators have become a common part of the DeFi landscape, and the tokens associated with them can be highly lucrative. As such, many copycat aggregators have emerged looking to capitalise on the trend. Anyone considering buying FARM tokens should be aware of competitors such as Yearn Finance, 1INCH and Rari Capital.
- Token supply:FARM tokens can be purchased on the open market or earned by using the platform. Tokens were first distributed on 3 September 2020 via an airdrop, which distributed roughly 180,000 tokens over four weeks. The total supply of tokens is capped at 690,420, which are planned to be distributed via protocol rewards over the first four years of operation.
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