Besides crypto trading, it is also possible to earn high returns on your BNB reserves through yield farming. In 2020, a new crypto investment strategy emerged that became an instant hit and is thriving to date. We are talking about yield farming.
Yield farming is currently the most profitable Defi driving factor. It is appealing to many because it offers exceptionally high-interest rates compared to other strategies. Some projects offer annual percentage yield (APY) as high as 1000%. For those who don’t know, APY is annual interest earned on your deposit. There are even protocols offering over 8000% APY. INSANE.
Before, crypto investors only earned a fee or some interest on providing liquidity to a lending protocol or decentralized exchange. Now, they can earn high rewards on a yield farm. Moreover, it is possible to earn extra income on a yield farming platform through incentives like referral programs.
How does Yield Farming work?
Yield farming makes a profit by lending your crypto on a decentralized application (dapp) in exchange for returns, usually calculated as APY (annual percentage yield). Although compared to staking, it is more complicated.
How it works is that investors earn coins by lending their crypto assets to various Defi protocols called smart contracts. You can contribute crypto assets for short time periods anywhere from a couple of days to many months. Remember that higher lending amounts lead to higher returns but often carry high risk too.
It all sounds pretty attractive, but for all the beginners out there, it is recommended to put around 1% of your investment portfolio into yield farming. You can increase your deposits as you learn the ropes. For a less risky option, deposit your crypto on an audited smart contract.
BNBXMAS is one example of an audited smart contract on the Binance Smart Chain (BSC) network. It offers a crypto yield farming program with a total ROI of 119% to 234%. It offers a more secure farming option for anyone who wants to increase their BNB holdings. Just deposit as low as 0.01 BNB and get ready to make 7.8% to 17% ROI every day by choosing a period of 7 days to 30 days.
This AI automated yield farm is 100% safe and user-friendly, making it the perfect platform for new BNB farmers. It connects to multiple crypto wallets so more and more people can use it. Moreover, it is launching just in time for new year’s so you can have a prosperous 2022.
Crypto enthusiasts are ready to make a fortune even during these uncertain and challenging economic times by accumulating crypto wealth through yield farming. Since farming is much more profitable than staking, most crypto investors have transitioned to yield farming, naturally completely forgetting about staking. After all, who doesn’t like making more money?
You can also become a yield farmer and make 200%+ ROI by visiting BNBXMAS.com.