Buy yearn.finance with a Credit Card
You can buy YFI for USD and other fiat currencies here at SwapSpace! We provide an easy way to do that via our partner Mercuryo with a few simple steps right on this page. You can also look at yearn.finance price dynamics and history, get some answers to your questions, and find some useful links to read more on what is YFI.
yearn.finance Live Price Chart
YFI price can be volatile. You can see the history of price changes in the cryptocurrency price chart below to help you make the best decision while considering buying crypto.
YFI (Yearn.finance) is a decentralized finance (DeFi) platform built on the Ethereum blockchain that allows users to earn a yield on their cryptocurrency holdings. The platform is powered by the YFI token, which is used to incentivize users to provide liquidity to various DeFi protocols in order to earn higher yields.
YFI crypto is primarily a governance token, meaning that holders can use it to vote on proposals and changes to the Yearn.finance platform. This gives YFI holders a say in the direction of the platform and how it operates.
The YFI token was created by Andre Cronje in July 2020 and quickly gained popularity within the DeFi community due to its unique distribution mechanism. Unlike most tokens, YFI was not pre-mined or sold in an initial coin offering (ICO). Instead, it was distributed to users who provided liquidity to Yearn.finance's various DeFi protocols.
The total supply of YFI tokens is 30,000. However, there is no inflation or issuance of new YFI tokens. All YFI tokens were distributed to the community through liquidity provision to the Yearn Finance ecosystem in 2020.
The platform was created in response to a need for more automated and efficient yield farming strategies within the DeFi space. Yield farming was becoming increasingly popular, but the process of manually moving funds between different DeFi protocols in order to maximize yield was time-consuming and difficult for many users.
YFI has since become one of the most valuable cryptocurrencies in the DeFi space, reaching a market capitalization of over $1 billion in just a few months after its launch. It is traded on various cryptocurrency exchanges and can be stored in a compatible cryptocurrency wallet.
Yearn.finance is not just a single DeFi protocol, but rather a suite of protocols that work together to optimize yield. Some of these protocols include Curve, Aave, and Compound. The Yearn Finance protocol is essentially a set of smart contracts that automate the process of yield farming.
The protocol is made up of several different modules, each of which is responsible for a different aspect of the platform's operation. Some of these modules include:
Vaults: These are smart contracts that automatically move funds between different DeFi protocols in order to maximize yield. Vaults are optimized for specific cryptocurrency pairs, such as ETH/DAI or USDC/USDT.
Strategies: These are algorithms that determine which DeFi protocols to use in order to maximize yield. Strategies are constantly updated based on market conditions and other factors.
Governance: This module is responsible for community governance of the platform. YFI token holders can use their tokens to vote on proposals and changes to the platform.
Yearn.finance's platform automatically moves user funds between various DeFi protocols in order to maximize yield. This process is known as yield farming and helps users earn more interest on their cryptocurrency holdings. The yield optimization process is constantly monitored and adjusted by the platform's algorithms in order to ensure that users are earning the highest possible yield on their deposits.
Yearn.finance and YFI are largely driven by a passionate and active community of developers, users, and investors. This community is constantly working to improve the platform and innovate within the DeFi space.
To buy Yearn.finance native token, users can access platforms like Binance, Coinbase Pro, Kraken, Uniswap, etc. Before buying YFI, you'll need to create an account on one of these exchanges and complete the necessary verification steps, which may include providing your identification documents and linking your bank account or credit card. You can also buy YFI at SwapSpace, where we have several offers for you to choose from.
Once your account is set up and verified, you can fund your account with fiat currency or cryptocurrency and use it to purchase YFI. The process for buying YFI coin may vary depending on the exchange you use, but typically involves placing a buy order for YFI on the exchange's trading platform.
How to Buy YFI on SwapSpace
On this page, we put USD in the “You send” and YFI in the “You get” sections in the widget. USD is the default, but you can choose your preferred fiat currency. Put in the amount of fiat you want to spend. Next, press the ”View offers” button and choose a provider.
Fill in the “Enter the recipient address” field with the destination yearn.finance address. Check the information carefully and click the “Next” button. After reading the special terms and conditions in the next window, click “Next” again.
At this point, you will either see our partner’s widget or be redirected to another page, depending on the chosen provider. You will be asked to verify your identity, as this is standard practice for the services that work with fiat money. Follow the provider’s instructions on the screen.
After completing the KYC procedure, fill in your credit card information. At this point, everything is in place and your transaction will start.
Wait for the transaction to process. You’ll see a message when it’s completed. A window with your transaction details will also appear; from there, you can also create another crypto-fiat exchange.
Convert Fiat to Crypto Now
If you’re still just considering buying crypto with a credit or debit card, you can use the widget to play with our cryptocurrency converter: just put the amount of YFI you want and see how much USD, EUR, or other fiat currency it will cost you.