Gemini Cryptocurrency Exchange
yearn.finance (YFI) is the 309th largest cryptocurrency by market cap, valued at US$182,342,403.
yearn.finance is a highly volatile asset capable of major price swings in a single day. Today the price of YFI is $5393.3, which is lower than yesterday's trading price of $5,549.84. Over the past year, yearn.finance's price has seen a decrease of -7%.
So before you buy yearn.finance, make sure you understand these unique risks as well as its legal and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions on how you can buy yearn.finance.
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Find an exchange to buy, sell and trade YFI by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
yearn.finance is a DeFi yield-farming system, focused on making it easier for you to automatically farm the highest-yields possible with your cryptocurrency.
Yearn is a growing collection of DeFi services, intended to act as a simple gateway for the wider DeFi ecosystem. Its centrepiece is the ability to automatically invest your deposits in the highest-yielding place available in the DeFi ecosystem through Yearn Vaults. You deposit your funds into the vault, which are then collectively allocated to the most lucrative yield farming available. The returns are distributed proportionally to users.
Yearn can let people make stablecoin deposits straight to the highest-yielding lending platform available to earn competitive returns on stablecoins. In addition to the ease of use, this also helps batch transactions to save on Ethereum gas fees.
YFI is the native coin of the yearn.finance ecosystem and is required to participate in the yield-farming services. It is used to pay for fees and staking and is paid out to token holders as dividends. YFI tokens are also used to vote and engage with the governance decisions on the platform.
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading yearn.finance.
Once you've created an account, you will need to deposit funds to buy YFI with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy YFI:
The easiest way to buy YFI is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying YFI, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of yearn.finance has been performing recently.
You can keep your YFI on the exchange you purchased it on, or move it to a personal wallet:
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $129 |
Price (USD) $49.99 |
See more of the best crypto wallets
Before deciding whether or not to invest in YFI, it is vital you understand a few of the factors that may influence the price of the coin:
Compare today's price of yearn.finance ($5393.3 USD) against its all-time-high price of $90787 USD on 12 May 2021. The closer the bar is to 100%, the closer YFI is to reaching its ATH again.
Disclaimer: Cryptocurrencies, including yearn.finance, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of YFI is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the yearn.finance or any other cryptocurrency discussed.
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