Why people go there to trade YFI over the other exchanges, remains a bit unclear, but the team seems to be doing a lot of things right. With $16.08 million in volume, it ranks well ahead of Uniswap, BiKi, Huobi Global, and many other platforms. It has a healthy trading volume for YFI/USDT as well. BKEXĪnother trading platform that has not made a big impact as of yet comes in the form of BKEX. It has a mediocre trust score on CoinGecko, however, which is always something to take into account. Although $22.265 million may not seem like all that much, it is a lot better compared to most other trading platforms. BioneĪ trading platform most people may not be aware of, but Bione is one of the many platforms generating plenty of YFI/USDT trading volume. Today, the exchange provides $23.85 million in volume, or just under 10.5% of the global trades. Even among all of the supported DeFi tokens, YFI ranks pretty poorly, but its high price may have something to do with that. In Binance’s case, this is not the biggest trading market by any means. It is only normal to see the world’s biggest cryptocurrency exchange generate plenty of YFI trading volume. Even so, it generates nearly $71 million in YFI/USDT volume, which is nothing to sneeze at either. According to CoinGecko, CoinBene has a relatively low trust rating, indicating it might not necessarily be the best platform to explore from a cybersecurity point of view. The top trading platform to buy and sell YFI today is CoinBene, A bit of a surprise, considering the token is found on some other big exchanges as well. It is worth noting the top 5 platforms generate over 65% of all daily trades. In the case of YFI, the native Yearn.Finance token, several key exchanges pledge support. If yearn.finance loses liquidity, this could be interpreted as a warning sign for YFI as well.Given the growing interest in DeFi and decentralized finance tokens, it is crucial for exchanges to support these assets. As long as yearn.finance stands out from the competition in terms of technology and its range of products, further price gains are also quite possible with YFI. The deliberate and artificial setting at only 30,000 YFI means that this token remains rare. But yearn.finance, with the inclusion of other DeFi projects such as Compound and Aave, is currently ahead of the competition and YFI is the expression for this position. However, the competition is not sleeping SUSHI and SushiSwap, for example, were able to withdraw liquidity from the DeFi stock exchange Uniswap. Analysts also emphasize the support of well-known investors for yearn.finance, who are making their entry into the DeFi business. Yearn.finance has already expanded its portfolio to include DeFi transactions in the insurance sector and is basically able to outperform imitators. YFI is virtually the icing on the cake of this innovative platform. The protocol of yearn.finance has proven to be stable and secure, the user friendliness attracted enormous liquidity. At “Limit” you set the price if you want to wait for a target price.ĭeFi is at present the Top Topic number one in the Kryptobranche and YFI as an outrider one of the Profiteure of this trend. With the option “Market” you buy LINK immediately at the current market price. There you enter under “Buy” how much link you want to buy. The relevant order field is placed below the price curve. To the left of it are the order books, to the right are the trades that have been executed, and price information on other crypto currencies. Now the actual trading platform at Binance appears, with the price curve at its center. Now go to the currency pair of your choice for Chainlink (LINK) as described above and click “Trade”. If you click “Limit”, you set your purchase price and usually have to wait until this target price is reached. If you choose “Market” for your buy order, it will be converted to the market price immediately. Of course it is possible to buy not just one whole YFI, but also 0.1 YFI or even smaller units. Here you enter under “Buy” the number of YFI you would like to buy. The field below the price curve is decisive for you. There, YFI’s price curve dominates the screen in the middle, with order books on the left and trades executed on the right. This will take you to the actual website for trading. Now back to your chosen currency pair for YFI and click on “Trade”. You can get them for Euro immediately under “Fiat Markets”. Instead you can choose Bitcoin (BTC), Binance Coin (BNB) or one of the Stablecoins Tether (USDT) or Binance USD (BUSD). You cannot buy yearn.finance directly for Euro at Binance yet. Now you can see which currency pairs Binance supports for YFI. Click on “Markets” in the top line of Binance and enter “YFI” in the search field. You should now have a plus on your Binance account and can start buying yearn.finance.
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