It’s a lot and it’s honest work! #CropSpotter - Blog #15

It’s a lot and it’s honest work! #CropSpotter - Blog #15


When I first worked out FARM was going to be the next tipping token on Publish0x, I was THRILLED. After all, who wouldn’t want to earn 150% APY on some FARM? Especially when all you have to do is just stake it in a farm and do nothing from there? I’m going to run you guys through most of the options of FARM staking so you guys can see what the best option is for you.

 


Firstly, what should I farm on Harvest Finance?

This is a tough one as there are so many different options. Or is it? No it is not. In my opinion, all liquidity tokens are really not worth it at all, with the gas fees and complications. With Uniswap gas fees being so high (>£20), I would not suggest using Uniswap at all. Same with Sushiswap:

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Liquidity is also a vicious circle, let’s say one of the 2 assets drops to nothing overnight: although your other token is the strongest it’s ever been, it’s now worth NOTHING, because the liquidity is also worth nothing. It’s also going to cost you a lot of ETH in gas to lock in your liquidity. This means you should avoid liquidity tokens entirely. Liquidity is honestly just not a good idea at all, it can crash overnight and it’ll cost you A LOT in ETH to even lock up your tokens, and more to unlock them

Now you want the highest APY. WETH is good at 10% APY, but why not go for the big one, 150% APY with FARM!

FARM tokens even have 48.93M dollars staked at the moment 

So this means there is simply only one path to take: FARM staking. FARM staking is also the highest APY at 150%. The other good thing about this pool is you only need FARM (and a bit of gas). So now I am going to properly start my guide and my proposal on why FARM is the best. So without further ado, on with the article!

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Why Should You Farm FARM on Harvest Finance?


 

This Method is for people with a small amount of Cryptos. I have only ever had a maximum of $170 dollars in Crypto, I cannot afford the absurd fees of Uniswap, it would kill 1/6th of my assets.

Why should you farm FARM over HODLing Ethereum? Here is why: 

  • Ethereum has hit its ATH and has not risen above it. What does this mean? Well, my prediction for Ethereum is to stay stable around this price and not really move about. This means you may as well go and make your Ethereum grow. Usually I’d say, “use Nexo!”, but why would you use Nexo and get 7% interest when you can convert to FARM and get 150% APY? It’s a no brainer

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  • FARM is constantly rising. When it came out as a tipping token a few weeks ago, it was worth only $100. Now it’s $150. Tomorrow it might be $200, next year it may be $10,000. It’s worth investing now. I really do think it has a future, because there is so much money locked into the Harvest Finance ecosystem, actually 566 million dollars thus far

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  • You can double your Ethereum. Let’s say you turn 100 ETHER into FARM, that would be about 13,000 FARM. Next year it’s now 32,000, or actually 250 ETHER. Together with FARM we have now over doubled our money. This means that the FARMer will earn a lot from this experience, the HODLer will earn almost nothing

How do we farm FARM? Well, I’ll show you. Firstly, what you want to do is convert your cryptos into FARM. We can do this through Uniswap yes, but again, this would kill any small crypto holder. So instead we should use an exchange to buy our FARM. Specifically the Gate.Io exchange FARM/ETH pair. They will charge you a 0.03 withdraw fee, roughly $5, but this is really not a lot compared to the $30 Uniswap were trying to charge us.

FARM is an ERC-20, so it is best to withdraw it to MyCryptoWallet or MetaMask. From there, all you have to do is head to Harvest.Finance

From there we can just head over to the FARM pair on the home page, connect your wallet, press MAX and go to the bottom and press deposit. You can then simply pay a few gas fees to get your FARM staked. That’s it. You are done, compounding interest is being paid and you can withdraw whenever you want.

The interest is paid out in more FARM tokens which will mean you can only withdraw FARM. However, this makes things easier in my opinion as you are basically only having to deal with a single token: FARM.

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This tactic above with using FARM is suitable to the first time crypto investor with not a lot to spend and will give you massive yields. Just imagine: $100 to $250 in a single year. It would be even more because FARM is AUTO-COMPOUNDING, meaning every time you earn some, that little bit also gets interested added on. This just means that the first time crypto investor can rest happy that their money is multiplying massively, whilst the ETH HODLer sits idly by watching his money do nothing whatsoever. So FARMing is really the best way to go about this

 

Be clever and become a FARMer. It’s a lot, and it’s honest work.

 

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What if I have ETH to spare and also other cryptos?

My reason for refusing liquidity tokens in this article was because I was looking at HIGH gains with LOW funds over a long time. If you want MASSIVE gains with HIGH funds over a short time, you may want to take a look at the DAI/BSGS token pairing. If you aren’t scared that one of the tokens will drop to 0 and ruin the liquidity, then this gives MASSIVE yields. You can actually get 700% APY. $100 dollars turns to $700 in a year. Not bad eh? So this technique is aimed at the advanced crypto user with plenty of funds! 

This technique is HOWEVER risky. Both DAI and BSGS are not pegged and not securely in place. If one of them dies overnight, I again must stress the liquidity becomes worth nothing

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In order to do this, you’ll want to head to Uniswap and go to the “Pool” section. Here you need to put Dai in one box and put BSGS in the other box (you may need to press the “Show inactive token” area to find it). Then you just need to press Connect Wallet and Add Liquidity. This will get you the tokens. Then go press Max on Harvest.Finance and deposit, then you’ll be getting 700% APY

Interest can be paid out in BSGS or FARM. That’s all up to whichever token you most believe in. This is in some ways better than the FARM finance option because that can only be paid in FARM, but in some ways worse because BSGS isn’t such a massively used token anyway! All up to you as to what you withdraw

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Thanks for reading all and thanks to Publish0x for doing another contest, you guys are genuinely too kind. Thank you also to Harvest Finance who I presume helped fund the contest. Good luck to all other entrants! Thanks again for reading friends


Lazyluna678
Lazyluna678

Lazyluna678 is my name, Cryptocurrencies are my game!


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