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Yield farming is one of the popular methods for crypto investors/traders to generate passive income from their crypto assets. This involves lending or borrowing crypto on DeFi protocols. It allows the traders to earn higher returns.
If you’re interested in maximizing your crypto investments, yield farming is a recommended option for you. This article includes the reviews of top 12 yield farming platforms.
SushiSwap :DEX for Staking and Yield Farming
OKX :Crypto Yield Farming Pools With Huge APYs
Uniswap :Largest DEX on Ethereum
PancakeSwap:Earn Yields on BSC Tokens
AAVE :Cross-Chain Yield Farming Pools
Yearn.finance:Earn Yields on BSC Tokens
Binance:Provide Exchange Liquidity and Earn Farming Rewards
Huobi :Dual Investment Pools With High Yields
CropperFinance: Top DeFi Platform for Farming Solana
Wall Street Memes : Highly Popular Meme Presale & Staking Platform
Crypto.com :High-Yield Income Accounts Through Crypto Lending
BlockFi :Competitive Interest on Small Crypto Deposits
SushiSwap is an Ethereum-based DEX. It also excels in yield farming with support to 350+ tokens and diverse yield farming pools. This enables the users to trade, stake, and farm easily.
SushiXSwap cross-chain solution is widely popular, offering extensive liquidity, decentralized trading, and high yields for the crypto investors..
OKX is a major global cryptocurrency exchange with a vast range of yield farming pools. It supports Ethereum, Arbitrum, and Binance Smart Chain and is easily accessible for users seeking higher APYs. Furthermore, the OKX DEX also ensures privacy without requiring personal information or KYC from the users.
Uniswap is the leading DEX on the Ethereum network. It supports trading and yield farming for ERC-20 tokens. The platform supports multiple token pairs and stablecoins. It also has pools for automated market makers with higher liquidity and anonymity.
PancakeSwap is a thriving DEX on BSC (Binance Smart Chain). It supports yield farming, staking as well as trading. It also provides comparatively higher liquidity and better multipliers.Thus, it is preferable for those seeking higher yields.
AAVE is an open-source liquidity protocol that offers cross-chain functionalities and maximized returns on various blockchain networks. It supports Ethereum, Polygon, Avalanche, Optimism, and Arbitrum.
Yearn.finance is a prominent DeFi platform that offers yield farming pools. It mainly utilizes the Curve protocol. It also offers ‘vaults’ with attractive earning potential. This attracts users seeking estimated APYs of up to 500% across a variety of asset pairs.
Binance is one of the largest cryptocurrency exchanges. Its approach to yield farming is also unique as it offers a share of collected trading fees. This allows the users to earn farming rewards continuously. Thus, it is ideal for those seeking higher yields.
Huobi offers dual investment pools, with a unique twist on traditional yield farming. In this technique, investors deposit two crypto tokens, including USDT. Further, the earnings are contingent on the pair’s price at the dual investment expiration. It also supports multiple chains, extending its usability.
CropperFinance is a high-yield crypto platform that focuses on Solana yield farming. The platform offers a vast range of DeFi services, including token swaps, liquidity pools, and staking.
CropperFinance’s specialized CRP/SOL farming pool provides an estimated APY of over 370%.
Wall Street Memes ($WSM) is a unique yield farming project that primarily targets retail investors. It also combines staking rewards with price appreciations, mocking Wall Street elites.
The platform has over 60% APY and around $15 million market capitalization. It also has a numerous followers on various socials.
Crypto.com is a popular crypto exchange platform. The offerings from Crypto.com extend to low-commission spot trading, interest accounts on coins, and added DeFi tools.
The platform allows users to earn up to 14.5% on crypto assets and 8.5% on stablecoins. It also supports flexible lock-up options for traders/investors.
BlockFi is a reliable platform for crypto lending. The platform caters to lenders as well as borrowers in the crypto space. Furthermore, the users can earn up to 3.5% on crypto assets and 7.5% on stablecoins by utilizing flexible withdrawal options.
When choosing a crypto yield farming platform, here are the key factors to consider”:
In the crypto world, you can earn in different ways. Staking, yield farming, and liquidity farming are the most prominent choices among all.
Note: Staking is safer but offers lower rewards. On the other hand, yield and liquidity farming offer higher rewards but come with more risks.
Crypto-yield farming can be extremely profitable. However, there are also risks involved, and thus one must be cautious.
In many places, yield farming, staking, and interest accounts are taxed similarly to income. It varies based on your geo-location.
Crypto investments involve risks due to the volatile market nature. Thus, it is essential to research before beginning.
DAILY NEWSLETTER
Your daily dose of Crypto news, Prices & other updates..