A Step-by-Step-Guide on how to buy yearn.finance (YFI)
Step 1 – Join Kraken In the beginning you'll need to buy one of the bigger currencies. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click the button below for registration and getting Funds.
Step 2 – Send Your Ethereum or Bitcoin to an Crypto Exchange Your Ethereum or Bitcoin has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is similar. yearn.finance (YFI) is accessible on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Exchange? (Just follow these easy steps) Make sure you have chosen the correct coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow these easy steps).
Step 3 – Find yearn.finance (YFI) As soon as your deposit has been affirmed, you will directly have access to your funds and you can launch buying and trading. To purchase yearn.finance (YFI) on Binance, you'll want to go to the ”Exchange” tab and then click on “Basic”. In order to discover yearn.finance (YFI), you'll need to insert the short name of the asset (YFI) into the search-box, which is highlighted in the image. Make sure you have selected the proper grouping, we've highlighted this also. Click on “YFI/BTC” to proceed.
Step 4 – Acquisition of yearn.finance (YFI) Once you have discovered yearn.finance (YFI), you'll be given a Price Chart (in the Center of the picture) and some Order Books (on the Left of the picture). For now we're creating our own Limit Order. The field with the “Price” tag will be automatically filled with the most latest price yearn.finance (YFI) was traded for. This can be changed to your preferred rate. The ”Amount” field is the amount of YFI you wish to purchase. The ”Total” field is the aggregated price in BTC that you'll settle for the whole volumen of YFI. When you're happy, click on “Buy YFI”. Your plan will be filled as soon as a Seller sells their YFI for the price you introduced.
Step 5 – Withdraw yearn.finance (YFI) Unless you're regularly trading, never keep your crypto coins on an Cryptocurrency Exchange for an extended time period. To take off your yearn.finance (YFI), hover over the tab called “Funds” and mouse click on “Withdraw”. yearn.finance (YFI) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate yearn.finance (YFI) by using the given drop-down box. Enter the volumen of yearn.finance (YFI) you'd like to take off. Don't forget the presented fees/minimums. Also make sure you have entered your precise withdraw address. If you are glad, click “Submit”. You may be requested for verfication via phone/email ahead of a take off.