How to Earn yearn.finance (YFI): A Step-by-Step Guide for South Africans

Introduction

Lending yearn.finance can be an excellent choice for those looking to hold YFI while earning a return. The process may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.

Step-by-Step Guide for South African Investors

1. Acquire yearn.finance (YFI) Tokens

To lend yearn.finance, you first need to possess it. To acquire yearn.finance, you'll need to buy it. You can select from these well-known exchanges.

Platform	Mint	Cost
Nexo	yearn.finance (YFI)	3 370,57
YouHodler	yearn.finance (YFI)	3 367,65
Binance	yearn.finance (YFI)	3 369
BTSE	yearn.finance (YFI)	3 359,88
Coinbase	yearn.finance (YFI)	3 362,37
Kraken	yearn.finance (YFI)	3 370

View all 62 prices

2. Select a yearn.finance Lender
Once you have YFI, you'll need to select a yearn.finance lending platform to lend your tokens. You can explore some options here.
Platform Mint APY
YouHodler yearn.finance (YFI) Up to 12% APY
Blockchain.com yearn.finance (YFI) Up to 1% APY
View all 8 lending APYs
3. Earn yearn.finance
Once you've selected a platform to earn your yearn.finance, transfer your yearn.finance into your wallet on the earning platform. Once it's deposited, it will start earning APY. Some platforms pay interest daily, while others do so weekly or monthly.
4. Earn Interest in South Africa
Now all you need to do is sit back while your cryptocurrency earns APY. The more you deposit, the more interest you can earn. Try to ensure your earning platform pays compounding interest to maximise your returns.

Platform	Mint	APY
YouHodler	yearn.finance (YFI)	Up to 12% APY
Blockchain.com	yearn.finance (YFI)	Up to 1% APY

What to Keep in Mind

Lending your crypto can be risky. Ensure you conduct thorough research before depositing your crypto. Don't lend more than you're prepared to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.