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 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. yearn.finance (YFI) is available on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Just follow this guide) Make sure you've selected the exact coin you would like to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so on. In the case you are using a decentralized exchange, like Airswap or DDEX could be different (Follow our guide).
Step 3 – Find yearn.finance (YFI) As soon as your deposit has been affirmed, you'll instantly have access to your assets and you can initiate invest and trading. To invest in yearn.finance (YFI) on Binance, you will want to go to the ”Exchange” tab and after that click on “Basic”. To discover yearn.finance (YFI), you'll need to put the cointype (YFI) into the search box, which is marked in the graphic. Make sure you have selected the correct pairing, we've marked this also. Click on “YFI/BTC” to advance.
Step 4 – Buying yearn.finance (YFI) After you have found yearn.finance (YFI), you'll be presented with a Price Chart (in the Center of the picture) and some Order Books (Leftside of the picture). Next we are going to create our own Limit Order. The field with the “Price” tag will be filled with the most up-to-date price yearn.finance (YFI) was sold for. This can be changed to your favoured price. The ”Amount” field is the volumen of YFI you wish to buy. The ”Total” field is the whole price in BTC that you will pay for the whole quantity of YFI. When you're satisfied, click on “Buy YFI”. Your plan will be filled when a Seller trades their YFI for the price you submitted.
Step 5 – Withdraw yearn.finance (YFI) Unless you're regularly trading, never keep your crypto coins on an Crypto Exchange for an extensive time frame. In order to take off your yearn.finance (YFI), go to the tab called “Funds” and click on “Withdraw”. yearn.finance (YFI) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find yearn.finance (YFI) by using the given drop-down box. Drop in the quantity of yearn.finance (YFI) you would like to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your precise withdraw address. When you're glad, click “Submit”. You could be requested for verfication via email/phone before a withdrawal.