Where and How to Stake yearn.finance (YFI)

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 Guide

1. 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.

   Platform	Coin	Price
   Nexo	yearn.finance (YFI)	6,766.62
   Bitpanda	yearn.finance (YFI)	6,622.4
   Uphold	yearn.finance (YFI)	6,600.08
   Kraken	yearn.finance (YFI)	6,791
   OKX	yearn.finance (YFI)	6,747
   YouHodler	yearn.finance (YFI)	6,752.96

   See all 23 prices

2. 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. 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. 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.