When we talk of the freshest and most dominant farming yields on innovative DeFi platforms, Harvest Finance clearly comes to mind. We are talking of fresh farming techniques which are very optimal. The official governance token for Harvest is FARM. Everyone who has fair amounts of FARM in their coffers is able to vote. Voting enables FARM holders to influence treasury operations. A 5% charge is topped up from Harvest operations.
FARM has of late been listed among the best cryptocurrency exchanges, a stride that has not only elevated its fame but also build a lot of reputation. There are many ways available when you want to buy FARM. There is an option of paying with a credit card or with debit. This article will focus on where to buy the FARM coin and the best place to buy FARM coins. However, is unfortunate for traders in the USA because it is currently impossible to buy Harvest Finance with USD. With that being said, let us delve into the quick guide.
A quick guide on buying Harvest Finance token
Step 1: Register on Fiat-to-Crypto Exchange
Initially, there is a need to engage a prominent cryptocurrency. You will have to first buy one of the major cryptocurrencies, in this case, Bitcoin (BTC). Binance and Uphold.com are the best when completing fiat to crypto transactions. To get a better choice between the two, you will need to use them. That way you have a practical decision that is more ideal and progressive.
Why Binance? Well, it is one of the dominant exchanges around. Traders have an opportunity to transact fiat deposits. Unlike any other exchange, Binance grants a $10 bonus worth of bitcoin when you transact $100 worth of bitcoin. KYC process is also ideal and vital. You are questioned about to offer payment method. Let us look at further details.
Credit and debit cards
Paying with debit card or with credit card is fast as compared to other forms of transacting. However, except for hefty charges.
The next option is through bank transfer. This option is influenced by where you come from. Different countries have different bank policies towards crypto-based transactions. However, the response is fairly quick. You can also pay with PayPal.
When your transaction mode is in position, move on to the ‘trade’ button and select bitcoin. Make sure you confirm your transaction. By now you would have made your initial cryptocurrency purchase.
Step 2: Transfer BTC to an Altcoin Exchange
Remember, FARM is an altcoin which means that traders have to look for a much more conducive exchange platform that permits crypto to FARM. So as a sample, we shall focus on Binance. Binance is a reputable exchange with multiple transacting liberties. Altcoin trading is fast and easy.
Register under Binance
As we have mentioned, Binance has been ruling the cryptocurrency roost for the past 5 years. It was launched in China and it is now headquartered in Malta, a location in Europe. From the day it broke on the scene, many traders have benefited from fiat to crypto transactions.
Unfortunately for traders from the far west, Binance does not yet permit USD fiat transactions. The only way to participate at full length is by registering on their official exchange page. When your account is in position, make sure that you activate the 2FA authentication tool. This is the ultimate account protection tech that continues to offer elite asset security.
Step 3: Deposit BTC to exchange
Different exchanges have different policy frameworks. For example on the duration of the KYC process. Some exchanges usually take 30 while some can even go for a day or two before completion. Just after completion, the trader now has full access to the wallet. Now that your wallet is visible, do not be startled by the official page.
Beginners are not used to figuring pages but as long as you use bank transfer, nothing can go wrong. Check out the right side of the screen and you will see a series of randomly placed numbers and letters. No need to worry, that is your BTC address. In simple crypto terms that is your identification during cryptocurrency trading.
You have to send that address whenever you want to receive cryptocurrency or when you want to sell. Copy the address and place it on the clipboard. Remember our sample exchange is Binance so go back to the Binance page and reach out for the portfolio section. Select Bitcoin found on the given asset list and then opt to send.
The next step is the recipient page. You must pass the copied wallet address which you pasted on your clipboard back then. Remember to verify twice your address because the random display of numbers and letters is very much confusing and you wouldn’t want to send assets to a different address.
Another important security measure is to check malware and device-threatening packages because they might temper around with your address. After double authentication, opt ‘send’. When your transaction is approved you shall receive a message in your email inbox. For further authentication click on the confirmation message so that the firm concludes.
The next step is to reach out to the Binance page. By now your credit assets should have had reflected but if they have not yet been reflected, do not worry because at times network efficiency might be slow. Sometimes blockchain verification is also long, not counting out the jammed bitcoin traffic. When all is done, wait for Binance confirmation.
Step 4: Trade FARM
To kick start this step reach for Binance and then go for the ‘exchange’ platform. Binance pages are full of activity, flicks, and flips but no need to worry, these are just mere displays. Check out the right column and select BTC because we are using bitcoin to trade FARM. Select FARM and after that, you shall see FARM/BTC pairing.
At the bottom of the screen is a green button that has a ‘Buy FARM’ emblem. Make sure that you opt for the market box which is the most ideal method of giving traders order details. Percentage buttons can be played around with to give traders a chance to trade FARM. When you conclude these steps, you would have made your first FARM purchase.
Exchanges to buy FARM
Binance has been dominating the scene. One of the biggest advantages offered by Binance is that of lower fees. Exchanges charge little while users enjoy high liquidity charts that make possible instantaneous purchases and selling in a moving market.
Luckily, many countries across the world allow Binance operation on THORChain, these include Australia, Singapore, and the UK while those from the USA are barred. Though Binance is barred from the USA, it still maintains large customer bases in many countries across the world and it looks highly probable that it will grow so huge to disband any form of competition.
Step-by-step Buying Guide
- Create an account
- Complete KYC process
- Add funds to your wallet
- Buy your crypto
Next to Binance is Coinbase. By purchasing either bitcoin or ethereum, you are actually setting a good Coinbase takeoff. Coinbase, just like Binance, is one of the bigger and more dominating exchanges on cryptocurrency. An extra package of $10 worth of bitcoin is as a result of purchasing $100 cryptos. To kick-off, insert your email. Account verification is the best because you should use your name. Set a strong password to guarantee safety.
After inserting an email, confirmation will come instantly. Take note, the confirmation contains a link that has a mobile number. 2FA, a two-way authentication process should be used. It is very efficient and has good security measures. Make sure that this feature is always on to ensure long-lasting security.
Verification should be opted for in the next step. Never mind the daunting process, it is just a procedure but it’s just part and parcel of the asset claiming process. Luckily, Coinbase customers are guaranteed safety because it is regulated in the US, UK, and EU. Expect sheer automation and good functionality, all the transactions are automatic meaning customers should not wait for more than 15 minutes.
Step-by-step Buying Guide
- Sign up or sign into Coinbase
- On the upper right-hand side, select buy
- Choose your token/coin from the list of option
- Specify the amount that you want to buy
- Preview the transaction and confirm purchase
- Click Buy to complete your transaction
Next is Gate.io. This is a more ideal exchange that has a lot of guarantees. The most fantastic feature of Gate.io is the user interface. Very friendly to beginners and they can actually move up the charts to become specialists and professional technical traders.
Gate.io was launched in the year 2013 and from then it has been creating a huge base of altcoins for many users. You can easily maneuver in the market with Gate.io. For those trading in the USA, this is the best choice.
Step-by-step Buying Guide
- Sign up for an account
- Complete the KYC verification process
- Fund your wallet
- Choose a trading pair and buy
This exchange is known for offering quality service to crypto traders. It’s mostly preferred due to its low trading fees and registration is quite easy and fast. Users can expect a wide range of cryptocurrencies and several services. Some of those services on offer include margin lending support and margin trading support. The only downside is that it does not accept fiat currencies.
Step-by-step Buying Guide
- Sign up ur sign-in on Poloniex
- Go to your wallet and click on buy
- Choose your preferred crypto and specify the amount you want. You will be able to see the fees that apply
- You will then be redirected to Simplex.com to proceed with your purchase
If you are looking for that hub of altcoin that has a huge share of THORChain, check HitBTC. However, there have been speculations on its reputation and how it carries out its basic operations. HitBTC is moderate, not that exceptional and we recommend that your choose it last.
Step-by-step Buying Guide
- Create an account and verify your identity
- Click on Buy Crypto or go to Deposit and add either BTC or ETH
- Choose RUNE and specify the amount you want to spend
- Confirm details and proceed
Last on our list is Uniswap. It is an ideal way of trading but it’s still an average exchange. It has its fair share of market competition in an industry dominated by Binance and Coinbase.
Step-by-step Buying Guide
- Log into Uniswap
- Select Ethereum and then the token you want
- Specify how much ETH you want to use
- Confirm all the details and proceed with the transaction
How Harvest Finance project is different
There are always those unique features that set Harvest Finance apart from other DeFi based projects. Below we look at factors that make Harvest Finance different from other decentralized projects.
- deposit transactions of various tokens can be supported by various cryptocurrency coins
- it is one of the few project-based platforms with the freshest DeFi representation
- placement of DAI, WBTC and USDC is highly possible in anticipation of assets range
- check out legit audited contracts which are very smart
- transfer of assets on various DeFi projects is very possible everything to do with APY tracking and evaluation is catered for by protocol services
- staking and investment of assets on various farms is very much possible
- there is an array of supported cryptocurrencies include compound and sushi.
Things to consider before buying FARM
We all know that the cryptocurrency market is an ever-changing platform that has brewed a lot of risks and vulnerabilities. Did you know that in October 2020 Harvest Finance experienced a massive hacking heist that saw a $24 million loss?
These are some of the fundamental examples which continue to alert traders around the world to keep track of security protocols. Let us delve into some of the most important security measures one should take before talking about FARM yielding.
Harvest Finance is a broad DeFi based platform. The level of the aggregated spectrum is too much for any trader, seasoned or newbie. Aggregate deposits and funding expose funds details and transactions on various interconnected platforms. This means that when Harvest Finance owners are not pertinent about this issue, they will experience a huge loss.
Yielding has grown so big to become this fully fleshed competitive spectrum. DeFi platforms accommodate many farmers and traders with transacting prowess. However, there are many creative copycats who have taken advantage of the decentralized site. Prominent competitors include 1INCH and Yearn Finance.
All you have to understand in this segment is that FARM tokens are traded on a free and public platform. To give a bit of background information, in September 2020 to be exact 180,000 tokens were transferred on an airdrop platform. At the moment, the supply of FARM tokens stands at 690,420. These are statistics meant to show the level of supply.
Where to store FARM token
Trezor is one of the best hardware wallets that one can use to have a guaranteed safety of FARM tokens. Let us look at various factors to consider on Trezor hardware wallets.
- it’s a cold wallet
- can not be connected with the internet
- the perfect platform to store private keys
- plugin with your device of choice is very possible, all you have to do is press push buttons
- it’s very reputable looking at its 7 years in the market (Established in 2014)
- has a fair share of users on the market
Keepkey is another hardware wallet that has gained a lot of customer traction of late. Let us look at some exciting features from Keepkey.
- offers simple access to dominant cryptocurrencies that shape the world market
- fairly reputable looking at its 6 years participation in the cryptocurrency market
- it lays its operation on a deterministic HD wallet
- private key storage is top-notch due to minute computational capabilities
- storage and transfer of cryptocurrencies is highly possible
- Ethereum, Litecoin, and Namecoin are some of the compatible crypto coins
- wallet software integration is uptight looking at the fact that private key storage, transaction registration, and private key generation are combined perfectly
Keepkey is also compatible with some prominent software packages which include PC OS, Mac OS, Linux OS, and Android OS. The most used software wallet packages are MultiBit and Electrum.
When we are talking of the best there is in terms of properly designed storage systems, Ledger Nano S appears on the scene. Let us look at some fundamental features from Ledger Nano S.
- expect exciting security for assets
- the user interface is very simple to maneuver
- it has so much space to store precious assets like FARM coins
- encryption is top-notch and developers have actually testified that Ledger Nano S has elevated the security system of hardware wallets
- unlike many wallet systems, Ledger Nano S has dual protection layers (ST31H320 (protection) and STM32F042 (OS))
- these dual security systems guarantee the safety of chips stored in your private key
- contains a flexible PIN code used to unlock devices and wallets
- of the three enlisted hardware options, we recommend Ledger Nano S because of its level of portability.
Privacy and security tips
As we have mentioned earlier, FARM transactions have to pass through Binance and we all know the level of volatility and fluctuation encompassed in Binance. This is very discouraging to many traders around the world. In your attempt to secure FARM tokens, make sure that you use cold wallets or hardware wallets because they are offline storage tools.
That lack of internet connection determines the freedom of storage. Hot wallets are pretty vulnerable especially when you are a naive beginner. Luckily, cold wallets are there to store private keys. Cold wallets are perfectly connected with blockchain services which is a good advantage for prospective traders looking for better ways of storing assets. Also, try to use paper wallets.
Looking at the bundled history of paper wallets, they have been used since the early inception of bitcoin on the market. Scammers and hackers have no chance to manipulate your account because it’s an offline platform.
Another vital security tip is to use many wallets. Wallet holding is free meaning that you are not barred and sanctioned, you can create as many wallets as possible. That way you are spreading risk and guarding the portfolio. With these security measures, we hope that you will find some exciting guarantees in terms of privacy.
When engaging in cryptocurrency markets, do use a secured network. Do not use public networks because they can be compromised easily.
Harvest Finance is very broad. We are really expecting traders to take advantage of this FARM token-based DeFi platform. Users have a chance to gain maximum rewards from pools of investments. These pools are also perfect for yielding massive rewards. Thanks to the automatic switching ability envisaged in the platform, traders have a chance to move from different DeFi programs.
That way you get to have a firm opportunity to get lucrative FARM bids. There are many ways of gaining a lot of FARM tokens by simply depositing many assets. We hope that the article managed to answer all those critical securities, purchasing processes, and modes of payment when it comes to FARM tokens. 2021 farming and yielding platform has never been better with Harvest Finance. Get on it now and start to yield results!