Introduction
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.
Step-by-step
1. Obtain yearn.finance (YFI) tokens
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.
See all 19 pricesPlatform Coin Price Nexo yearn.finance (YFI) $4,884 Bitpanda yearn.finance (YFI) $4,890 Wirex yearn.finance (YFI) $4,900 Uphold yearn.finance (YFI) $4,854 Kraken yearn.finance (YFI) $4,904 OKX yearn.finance (YFI) $4,880 2. Choose a yearn.finance wallet
Once you have YFI, you’ll need to choose a yearn.finance wallet to store your tokens. Here are some good options.
3. Delegate your YFI
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.
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 be aware of
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.
Latest movements
yearn.finance (YFI) is currently priced at $0.92 with a 24-hour trading volume of $13.82M. The market cap of yearn.finance stands at 163.93M, with $33.57K YFI in circulation. For those looking to buy or trade yearn.finance, BTSE offers avenues to do so securely and efficiently.
- Market cap
- $163.93M
- 24h Volume
- $13.82M
- Circulating supply
- $33.57K