How to Purchase Bitcoin (BTC) using yearn.finance (YFI)

To buy Bitcoin using yearn.finance, first, find a cryptocurrency exchange that supports the BTC/YFI trading pair, such as Nexo, YouHodler, Binance or BTSE. Create an account, verify your identity, and deposit your YFI into your exchange wallet. Locate the BTC/YFI pair on the trading platform and place an order to exchange your yearn.finance for Bitcoin. If the BTC/YFI pair is unavailable, you can first exchange yearn.finance for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Bitcoin. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.