How to Buy Yearn Finance Bit Right Now
In this article, we will show you how to buy Yearn Finance Bit easily. By the end of this article you would learn how to buy YFBT with USD, BTC or ETH. Keep reading.
Table of Contents:
- What is Yearn Finance Bit? Our review
- Current prices
- Where to buy YFBT
- How to safely store YFBT
- Frequently asked questions
Current Yearn Finance Bit Price Stats
|YFBT Price||$14.8000 USD|
|Price Change24h||$-8.2000 USD (-35.65%)|
|24h Low / 24h High||$14.7471 / $23.0230 USD|
|Trading Volume24h||$11 USD|
What is Yearn Finance Bit? A Review
Yearn Finance Bit is a decentralized token under ERC-20 protocol, it allows users to stake YFBT, borrow assets, and vote for improvements within the community. Its staking platform enables investors to earn a yield on YFBT token, depositing, and selecting the amount they want to stake, they will get an APR of 25%, and it can be unlocked anytime.
Where and How to Buy Yearn Finance Bit (YFBT) Coin
There are 3 steps to purchasing Yearn Finance Bit. They are:
- Buy Bitcoin: Buying Bitcoin in 2021 is a fairly simple matter which we don't need to go in-depth on. The best places to but Bitcoin directly today with USD or your native currency are: Coinbase, Binance and Paypal.
- Move the Bitcoin to an Exchange that supports YFBT: Once you have purchased BTC, the next step is to move the BTC to an exchange that supports the YFBT/BTC trading pairs.
- Buy Yearn Finance Bit on the Exchange: Now, you can buy Yearn Finance Bit with your Bitcoin on your preferred exchange from the options we provided. Some of these exchanges support different YFBT pairs. Below is a detailed breakdown of each exchange and the trading pairs it supports.
How to Safely Store Yearn Finance Bit Crypto
Once you buy Yearn Finance Bit, the next question you'd have is "where do I store my Yearn Finance Bits?". It is quiet easy to store your Yearn Finance Bit tokens after purchase. In fact there are two easy methods of doing so:
- Cold storage: There is a saying in crypto that the only tokens you own are those on your hard drive. This is very true as lots of things could happen to coins stored on exchanges - e.g hacks. For this reason, cold storage is usually a good option.
Hardware wallet options like - The Ledger Nano S or Ledger Nano X and SecuX V20 could be a good place to store Yearn Finance Bit. If Yearn Finance Bit is an Ethereum based ERC-20 token, you can also store it in any ERC-20 compatible wallet such as MyEtherWallet (MEW) or MyCrypto.
- Exchanges: Storing on Exchanges might be a good option if you don't plan on hodling Yearn Finance Bit for the long-term and need to quickly trade it and make some gains. However, be careful as a downside of storing on exchanges is the susceptibility of exchanges to hacks.