Due to the current rise in DeFi, many people seem to be interested in Yield Farming but they often make mistakes and lose of money! So, the GuardaWallet Team has prepared a small step-by-step guide for $YFI Farming. Check it out -

Guarda wallet has prepared a small tutorial on how to make a deposit to the platform. You can read more in detail in the tutorial.

YFI step-by-step: 

1. Firstly, we have to buy ERC-20 tokens. 

2. The next one is to go to yearn.finance website, where you’re gonna see such a panel with 6 categories.

3. Once you have purchased ERC-20 tokens, you need to tie your wallet withYearn Finance. In order to do this, you need to go to the Yearn Finance website, and after choosing the Vaults category, connect a compatible wallet to the app.

4. Next step is about moving to the “Earn” category.

5. When your wallet is connected, you can deposit in any type of these stable coins. Yearn will get you the highest yields for your coins by shifting your coins between popular pools.

6. As for now, we’re returning back to the “Earn” page and looking for a token to deposit in.

7. Once you have made a deposit, Yearn (algorithmically) will allocate your investment into one of three pools.

8. On the same principle as in all other pools, you get tokens back, which correspond to your degree of ownership.

PS: This text is written for information purposes only and never constitutes a call to action. All financial transactions carried out by you are made at your own risk. The Guarda editorial staff reminds you of the riskiness of all kinds of speculation on all kinds of financial markets.