As the crypto sector evolves, new products continue to come into the market. Apart from the crypto trading offered by earlier crypto exchange platforms, many new products such as yield farming on decentralized platforms called DEX have now hit the market.
If you have been in the crypto sector for some time, you probably know what this is about. But for the sake of those who do not know, this is a DeFi strategy to put investors’ crypto to work while the investors earn high interest rates. Currently, the crypto locked into these programs is worth over $50 billion according to DeFiPulse.
Does this sound interesting to you? If yes, then you should look for the best crypto exchange that has these programs to get on board. That said, here are examples of the best platforms to invest in.
Binance Smart Chain Platform
Binance is an ever-growing crypto exchange platform. Right now, it has added the Binance Smart Chain (BSC) layer to allow DeFi users to lock their savings and get high interest rates in return. The Ethereum Virtual Machine (EVM) runs the automated market for all operations.
The good thing with BSC is that it has numerous yield farms for users to choose one that works best for them. The Venus, Bearn, and Pancake Bunny are some of the popular options on the platform.
Loop Finance Platform
Loop works hand in hand with the Terra DEX. They facilitate a number of activities that make them a dynamic crypto exchange. Apart from trading listed coins, you can also invest in yield farming. The latter includes locking crypto under a DeFi program to earn interest.
The interest comes in terms of LUNA, MINE, and LOTA tokens among others. Notably, the APY for the yield farming programs is very compelling, and you should visit the Loop website to learn more.
Uniswap Crypto Exchange
Anyone who has been into yield farming probably knows about Uniswap. It is one of the largest decentralized crypto exchanges, commonly known as DEX. This platform allows ETH and numerous other ERC-20 tokens and gives interest rates of 20% APY to investors.
Additionally, the fee for trading coins on Uniswap is very small. Generally, there are numerous benefits of investing in such a platform.
Curve Finance Crypto Exchange
As one of the largest DEX platforms, the Curve platform offers a lucrative APY to investors, which ranges between 2% to 30%. Currently, the locked crypto here is worth $7.9 billion. So, if you are looking for a crypto exchange platform that will put your crypto to the best use and give the best interest in return, this is what you should go for.
The good thing is that Curve has listed numerous coins on their platform including stablecoins, and you will have an easy time investing with them.
Conclusion
If you do not know how to yield farm, the listed platforms have a lot of information on how to go about it. Still, consulting with experienced investors is a better option. Decentralized crypto exchange platforms allow direct peer-to-peer interaction. Hence, it is easy to learn from the community.
