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 – Transmit Your Ethereum or Bitcoin to an Crypto Trader Your Ethereum (ETH) or Bitcoin (BTC) will need 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 sample. Not sure on how to send funds from Coinbase to an Crypto Trader? (Just follow this how-to) Make sure you've selected the correct coin you wish to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, et cetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow our manual).
Step 3 – Find yearn.finance (YFI) Once your deposit has been affirmed, you will directly have access to your finances and you can begin invest and trading. To purchase yearn.finance (YFI) on Binance, you'll want to go to the tab which is called “Exchange” and then click on “Basic”. To find yearn.finance (YFI), you'll need to insert the short name of the asset (YFI) into the search box, which is marked in the image. Make sure you have choosen the proper grouping, we've highlighted this also. Click on “YFI/BTC” to go ahead.
Step 4 – Buying yearn.finance (YFI) After you have found yearn.finance (YFI), you'll be given a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the picture). Next we're making our own Limit Order. The field with the “Price” tag will be automatically filled with the most recent price yearn.finance (YFI) was traded for. You can change this to your desired price. The field with the “Amount” tag is the quantity of YFI you like to buy. The ”Total” field is the whole price in BTC that you'll settle for the complete volumen of YFI. When you're glad, click on “Buy YFI”. Your order will be filled as soon as a Seller sells their YFI for the price you introduced.
Step 5 – Withdraw yearn.finance (YFI) Unless you are regularly trading, never keep your crypto on an Cryptocurrency Exchange for an longer period of time. 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, e.g. 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 displayed minimus/fees. Also make sure you have filled your right withdraw address. If you are glad, click “Submit”. You could be requested for email/phone verification ahead of a take off.