What is Harvest Finance and can you be a BinanceFARMer?
At the moment everything is suggesting you the next big altcoin run and the next super duper coin which will make a 100x from now on.
On the other hand there are some projects out there which are giving you profit when you stake your coins. And the best thing you do not have to leave them forever. You see what you will get or in other words
Your hard work is about to become easier with Harvest
It ain't much, but it's honest work.
And this is the point. In this post I did a deeper dive on https://harvest.finance/ . No not the Ethereum based one, I am looking to “harvest something on the BinanceSmartChain in other words called BSC.
What do we need ?
Please also make sure that you have your wallet prepared. With wallet I mean that you have set up your Metamask with the Binance Smart Chain . IF you haven`t done that you can use the official Blogpost from BINANCE. But in simple steps explained you need to configure your wallet to add a new Network, in our case Binance Smart Chain. Here are the key facts, but please check the official blog post again. Typos can always occur. This is what I got from the docs
- Network Name: Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer URL: https://bscscan.com
What you need to do – Now let`s go
Well first of all you have to navigate to the landing page. https://harvest.finance/ .
Then you should have 2 options. Ethereum Mainnet Farms or Binance Smart Chain farms.
To switch click the button and welcome you are on the Binance Chain Pool.
Now we need your wallet, which you have prepared in the step before. Now select your configured Wallet.
In my example I am using Binance Smart Chain as the network and Metamask as my wallet.
If you have nor selected the BSC Chain before you will be asked again, if you want to switch.
Then please allow the request, there should be no fee displayed. Otherwise please check again. If you have successfully switched to the BSC
you will see your Wallet connected as a symbol in the upper right corner
How it works – Lets start farming
And now well let`s farm. You choose your favorite asset. As example when you have USDT or DAI in your pocket.
Why not try to farm a few new Tokens at a percentage of 29% APY (in USDT) or about 32% APY (in DAI).
It could be simple. Please check and read the information on the page.
First you search for your asset. In my case I use USDT
This means I can “stake” my tokens in the VENUS pool and I can earn some rewards for that.
Hm sounds interesting. Well now I expanded the reward section. And as you can see I would get 29% APY.
But please read carefully, you will get 10,47% in XVS and 19.01% in bFARM tokens.
This is how it works. And you have to pay a small fee for the deposit and the withdraw.
To be honest, I have never paid more than 0,50 USD for Staking an claiming. But it is fair to say that nothing is for fee.
Also not the coffee J . Last please also check the Details of the vault which should be also visible for you.
And now welcome on board and happy Farming #BinanceFARMer . And for a better understanding i added this sweet little overview. Because a picture is explaining more than 1000 words. Anyway safe trades and have a wonderful day. To be honest i did this a few couples ago, but i think it is a good alternative and an option if you want to earn passive income. But as always, no financial advise and please please please do your own research.
But as always this is not a financial advise this is only my way of thinking. Be careful, take profits and remember you can loose all your money. I also added some of my affiliate links in the box. If you need an discount of 10% on BINANCE you can use this one. And if you want to participate on other projects. As example DEFI please use the link to receive a sign up bonus about 20$ after your first deposit. Stay save and make good gains.
- Use PRESEARCH and earn PRE Token
- CakeDEFI – Provides the DFI token and offers an easy staking plattform . Use the link and receive 20$ in DEFI after your first deposit
- PEAK DEFI - Is an interresting project
- BITPANDA – Here you can buy and trade the BEST Token
- BINANCE – register and they will give you a 10% discount
- NEXO Finance - Here you get high interrest rates on crypto an FIAT assets.