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An in-depth guide on how to stake yearn.finance (YFI)
We have a lot of data on staking yearn.finance (YFI) and we share some of this with you.
We show you some staking options with other coins that could be of interest.
yearn.finance (YFI) is currently priced at $0.92 with a 24-hour trading volume of $18.35M. The market cap of yearn.finance stands at $266.18M, with 33,627.93 YFI in circulation. For those looking to buy or trade yearn.finance, BTSE offers avenues to do so securely and efficiently}
Staking yearn.finance can be a great option for those who want to hold YFI but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That's why we've put this guide together for you.
In order to stake yearn.finance, you need to have it. To obtain yearn.finance, you'll need to purchase it. You can choose from these popular exchanges.
| Platform | Coin | Price |
|---|---|---|
| Nexo | yearn.finance (YFI) | 3,780.32 |
| YouHodler | yearn.finance (YFI) | 3,778 |
| Binance | yearn.finance (YFI) | 3,778 |
| BTSE | yearn.finance (YFI) | 3,776.64 |
| Coinbase | yearn.finance (YFI) | 3,776.84 |
| Kraken | yearn.finance (YFI) | 3,777 |
Once you have YFI, you'll need to choose a yearn.finance wallet to store your tokens. Here are some good options.
We recommend using a staking pool when staking YFI. It's simpler and faster to get up-and-running. A staking pool is a group of validators who combine their YFI, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet's interface.
You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the yearn.finance network. You'll be rewarded with YFI for these validations.
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
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