Definitive guide to investing in yearn.finance (YFI) Token. Project explained, price and staking

Buying yearn.finance (YFI) on the Binance platform

You can find several trading platforms on the Internet nowadays, but certainly Binance is among the most popular and innovative.

Learning how to trade with yearn.finance (YFI) is vital in case you want to begin trading on that platform.

So, in this post we’ll bring you all the information you should have to purchase yearn.finance (YFI) on the Binance cryptocurrency exchange.

Be able to register on Binance

The only way to get started in operating within Binance is opening an account in it.

Registering on the platform is quite easy: see the following guidelines.

On the Binance homepage you have to locate the "Register" option and click on it.

Click here to go straight to the Binance platform.

Look for the "Register with a phone or email" button in the main page and press it.

You can also do this using your iOS smartphone.

For the purpose of this article, the email address registration technique will be shown.

• In the screen you’ll immediately see, select your country of residence from the drop-down list.
• Now the vital part: password. Create a string of characters difficult enough not to be simply guessed. Never use your name, birth date or things like that. Keep in mind that it’s your property what will have to be secured by that word
• Here you must accept "Terms of Service" and, if you would want to get information, updates and news from Binance in your e-mail address, check in the corresponding box

Binance will automatically send a one-time-only activation password (NB: this is NOT the password you’ve created) that you’ll type it in the corresponding box, then click on "Send"

Finally, your Binance enrollment has been activated.

It is a nice idea to visit the different options of the Binance platform and become familiar with them.

You’ll discover how easy is to begin operating with yearn.finance (YFI).

The ID checking is a mandatory step you have to complete to gain access to all these options.

Important: No yearn.finance (YFI) trading will be permitted if you overlook this safety step.

No big deal, though. Continue reading through the next section to complete that step.

Verify your account to start trading

The following are the instructions to verify your Binance subscription and get authorized to begin operating:

From the user profile menu, pick "Security"

You may also click on the "Verify" button at the top of the screen

Look for the option "Identification" on the left part of the screen.

Now you should select your country of residence.

Next, the 3 verification levels:

• The one you already have.
• The Verified.
• The Verified Plus.

Begin by clicking on "Start now" just by the "Verified" level.

In this step, some personal data wil be required:

• Nationality.
• First and Last Name.
• Second name and birth date.
• Exact address of your residence.
• Middle name and date of birth.
• Second name and birth date.

Now you’ll have to to provide a legal document to verify your identity.

ID card, passport or even a license will be enough to fulfill this condition.

Now the system will ask you to take a selfie following certain instructions.

Once those requisites have been completed, the Binance platform will do a confirmation process on your account.

Once your request has been approved, you will be notified via e-mail, just be patient.

Congrats! Now you’re officially authorized to buy yearn.finance (YFI). See the guidelines that follow.

Purchasing yearn.finance (YFI) on Binance

In this section you’ll discover how simple is to convert cash into yearn.finance (YFI).

Here, the Binance platform will require you to show a legal document for identity verification.

Use your passport, ID card or even your driver’s license to complete this step.

Now the system will ask you to take a selfie following certain instructions.

Once you have completed the system’s requirements, you will have to wait a short time while your account is verified.

So, be patient, Binance will send you an email when your profile has been accepted.

After that, it’s time to buy yearn.finance (YFI), just follow the guidelines below.

Buying yearn.finance (YFI) on Binance

In this section you’ll realize how easy is to invest your money in yearn.finance (YFI).

Some processes might have alternative paths

See the "Buy cryptos" menu on the Binance homepage to find out which alternatives are available to you when making a purchase.

You have to, of course, do this after you’ve logged into your account

Hovering your mouse pointer over this button will show a list of alternatives to make the purchase.

Here, the Binance platform will ask you to use a legal document for identity corroboration.

You can do this with your ID card, passport, or driver’s license.

In the next stage, you will be asked to take a selfie, following the application’s instructions.

The last step is on Binance’s side: a confirmation process that will just take a while.

Now be patient, Binance will let you know via e-mail once your profile has been accepted.

Congratulations! Now you’re officially licensed to operate with yearn.finance (YFI). See the guidelines that follow.

Buying yearn.finance (YFI) on Binance

Take a time to learn how to make a purchase of yearn.finance (YFI).

You will probably have more than one option throughout the process

To know which options are available to you when making a purchase, browse through the "Buy cryptos" menu on the Binance main page.

You must, of course, do this once you are logged into your account

Hover your mouse over this button and a list of buying alternatives will be shown.

Buying yearn.finance (YFI) with a credit/debit card

Go to the "Buy Cryptos" and pick the credit card-related option from the menu.

These guidelines will be helpful to continue the process:

Currency preferred and how much you’ll invest must be stated here.

Next, pick the yearn.finance (YFI) you’re going to buy

The number of yearn.finance (YFI) you’ll receive will depend upon the amount of USD you have just indicated. The Binance system will immediately display it.

Next, just follow these instructions:

Currency preferred and amount of the investment should be defined here.

In the next field you must pick the yearn.finance (YFI) you intend to buy

The number of yearn.finance (YFI) you will be given will depend upon the amount of USD you’ve previously stated. The Binance platform will immediately display it.

Click "Continue".

To use your credit card as a payment method, select in the "Visa/Mastercard" field the option "Add card".

Then the platform will ask you to indicate your CC data.

In this step you must indicate the address the card is associated to. Write it exactly as it is, then choose "Add card".

When you see your card has been successfully added, press "Continue".

Next, all the relevant details of the operation will be displayed: the amount you are paying and the corresponding currency, and of course, the cryptos you are going to get.

Another detail of relevance in this overview is the sum Binance will charge you as a commision for making the purchase.

Within the next 60 seconds press "Confirm", from then on the order will be automatically terminated.

The following step needs to be done on the credit card banking system. Follow the guidelines in the same way you would normally pay with your credit card.

Once the banking procedure has been finished, you will get your purchased yearn.finance (YFI) in your Binance digital wallet (referred to as the «Spot Wallet»)

Learn how to buy yearn.finance (YFI) through Binance P2P

Next, all the relevant details of the transaction will be presented: the sum to be charged on your credit card and the corresponding currency, and of course, the cryptos you are going to receive.

Indeed, Binance will take a small amount as a commission for making the operation, and it will appear in that summary as well.

You have 60 seconds to press "Confirm", otherwise the order will be automatically aborted.

The Binance system will now send you to the bank issuing the credit card. Proceed just as you do when making a payment using your card on the bank website.

You can check your Binance e-wallet (referred to as the «Spot Wallet») as soon as the banking process has been finished to see your recently purchased yearn.finance (YFI) already there

See how easy is how to purchase yearn.finance (YFI) through Binance P2P

1. Go to the "Security" section of your account.
2. Press "Payment" from the menu on the left.
3. After Clicking on "Add a Payment Method" the platform will guide you through the rest of the procedure.

After you have included the new method of payment to your profile, move to the "Buy Crypto" menu (upper part of the display), select the "Trading P2P" button, and follow the guidance below:

1. Look for the "Buy" option on the top bar of the "P2P Account" tab and click it
2. Here you can choose the yearn.finance (YFI) you’re interested in, among all those available for purchase via P2P trading. We use «USDT» in this guide.Any yearn.finance (YFI) bought through P2P trading could be exchanged by any of the foreign currencies available on Binance.
3. It is time to choose the local currency you want to use, for instance, «VES». Simply, see the drop-down list under the "Fiat" label.
4. Now you must type the amount in VES you’re going to invest in the "Amount" box.
5. Indicate the method of payment and wait for the system to display the register of the dealers’ ads.
6. Select a seller from the list shown. We suggest that you pick a verified one with a high percentage of sales completed.
7. Click on "Buy USDT"
8. Enter the amount in VES you would like to pay
9. Again, press "Buy USDT"
10. That will open a purchase order where you will have connection with the trader. Pay within the time limit and click on "Transferred, Next", then press "Confirm".

Tips on how to transfer your yearn.finance (YFI) to the Spot Wallet

Cryptos will be released by the seller as soon as payment reception acknowledge has been done.

You may verify your wallet account balance to confirm reception.

However, in order for you to get another yearn.finance (YFI), you must move them to your Spot Wallet.

You can do this immediately once the purchase order has been completed just by clicking "Transfer to Spot Wallet".

This yearn.finance (YFI) internal transfer can be performed anytime later.

Ways to transfer your yearn.finance (YFI) to the Spot Wallet

The seller, upon receiving your money, will instantly release the yearn.finance (YFI).

You may check your wallet account balance to confirm reception.

But in case you want to get another yearn.finance (YFI), you need to transfer them to your Spot Wallet.

To achieve this, all you have to do is press "Transfer to Spot Wallet" once the purchase order has been completed.

This yearn.finance (YFI) internal movement can be done anytime later.

1. Click on "Wallet Funds" from the "Wallet" drop-down menu.
2. Locate the "Transfer" button at the top right and click on it.
3. A new window will pop-up, where you must set the options to:
• From: «Funds»
• To: «Fiat and Spot»
4. Select the currency corresponding to your funds in the platform, in this example we’ll use «USDT»
5. Input the amount you are sending for the Exchange and click "Confirm".

All right! Now you have money available to buy any of the several yearn.finance (YFI) in the Binance platform.

Buy any crypto from the Binance platform just following the instructions described below:

1. Look for the "Trading" option in the top top panel.
2. In the listing select the "Convert" option.
3. Indicate the amount of «USDT» you wish to spend.
4. Now indicate the cryptocurrency you’re about to get.
5. Press "Preview conversion".
6. Confirm the transaction and that’s it. Now you will have the funds of the selected crypto in your Spot Wallet.

With these money already in your Spot Wallet, don’t fear to purchase any crypto you consider will be profitable.

Purchase any crypto from the Binance platform just following the steps described next:

1. Look for the "Trading" option in the top top panel.
2. Press "Convert" from the list.
3. Indicate the amount of «USDT» you would like to spend.
4. Now indicate the crypto you’re about to get.
5. Select "Preview conversion".
6. Confirm the operation and that’s it. You now will have the amount of the chosen crypto in your Spot Wallet.

Based upon this information, you are now ready to start out trading on Binance.

So, no need to think twice, make a profitable business in this cryptocurrency platform.