"Dad, how can you make money with crypto?" - asked me my bigger one.
"Well, you can stake, you can farm, you can trade among many other things." - I answered not too confidently.
"What do you mean by farming Dad?" - came the next question.
Let me show you.
First of all, go to harvest.finance website. It's a pretty cool one, lots of funny graphics.
Then connect your Metamask.
"But Dad, what's Metamask?"
Doesn't matter for now, just connect it.
You'll quickly see that you might not have any FARM. That's a mistake.
So click on that Buy FARM button. Do it. Now.
It will take you to another place, called Uniswap. It will give you some red warning, which you should not ignore, even though most people do.
Then you can swap some of your ETH to FARM.
Your Metamask will ask you for some permissions and will charge you some Gas (well, tractors at the farms use gas as well, don't they - so it's fitting).
Then you can wait, until the transaction go through and you will have nice FARM in your Metamask wallet.
"That's great Dad, but I didn't earn anything yet, just changed Ether to Farm and paid Gas - so actually I lost money"
Geee, these kids today, getting too smart.
"Well, this is the best part". If you're depositing your FARM from your Metamask, you get a whopping return over 200% per year. That's better than what you get in the bank for sure. Just press Deposit and Stake.
"But Dad, isn't crypto risky?"
"Indeed it is, there are quite a few risks. Crypto is volatile... I mean, its market value is changing rapidly. FARM might worth nothing or might be 10x in a few months. You take calculated risk and never deposit more money that you can lose".
"Let's go harvesting Dad!"
Photo by Jannis Knorr from Pexels