How to Stake yearn.finance (YFI)

Introduction

Staking yearn.finance can be an excellent choice for those looking to hold YFI while earning APY in a secure manner and supporting the network. 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. 1. Acquire yearn.finance (YFI) Tokens

   To stake yearn.finance, you first need to acquire it. To obtain yearn.finance, you'll need to buy it. You can select from these popular exchanges available in South Africa.

   Platform	Mint	Cost
   Nexo	yearn.finance (YFI)	3 644,89
   YouHodler	yearn.finance (YFI)	3 635,82
   Binance	yearn.finance (YFI)	3 638
   BTSE	yearn.finance (YFI)	3 634,73
   Coinbase	yearn.finance (YFI)	3 643,57
   Kraken	yearn.finance (YFI)	3 638

   View all 62 prices

2. 2. Select a yearn.finance Wallet

   Once you have YFI, you'll need to choose a yearn.finance wallet to store your tokens securely. Here are some solid options to consider.

3. 3. Delegate Your YFI

   We recommend using a staking pool when staking YFI. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their YFI, which increases their chances of validating transactions and earning rewards. You can manage this through your wallet's interface.

4. 4. Start Validating

   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.

What to Keep in Mind

There are transaction and staking pool fees you need to take into account. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this process can take some time.