Skip to main content
How To Buy Tutorials

How To Buy Yearn (YFI) Token – 5% Bonus – FTX Exchange

By July 25, 2020No Comments

How To Buy Yearn (YFI) On FTX

A Step-by-Step Guide

Step 1 -

Signup to FTX Exchange - Buy YFI on FTX

In order to buy Yearn (YFI), you’ll first need to Sign Up to FTX Exchange. FTX is a cryptocurrency derivatives exchange built by traders, for traders, offering a wide range of products from perpetual contracts on popular cryptocurrencies to leveraged tokens that can amplify profits up to 1,000%. Yearn YFI is one of the latest additions to the platform as interest in DeFi (decentralized finance) rockets higher and higher. FTX have built a platform powerful enough for professional trading firms and intuitive enough for first-time users. There’s no need to verify your KYC details unless you wish to withdraw over $1,000 USD per day and Yearn (YFI) tokens are available to all users regardless of trading volume. 

Using the button below, you’ll save 5% on trading fees forever when you sign up today.

Signup - 5% Fee BonusWhat Is Yearn (YFI)
Step 2 -

Buy Yearn (YFI) Tokens

With an FTX account setup, you can now buy YFI tokens after you’ve deposited your desired amount of Bitcoin (BTC) on the exchange and converted it to USD through the conversion tool on the wallet page. Head over to the YFI tab when you’re ready to get started. Yearn (YFI) tokens can be bought with straight USD for spot tokens that you can withdraw at any time, or bought through perpetual contracts with leverage. Depending on why you’re interesting in YFI tokens, you can decide whether you want real YFI tokens or simply wish to trade the token in the short term.

In terms of functionality, Yearn (YFI) tokens on FTX operate just like any other token. You can either hold them in your wallet and withdraw them into your own wallet, or store them on FTX to sell when it is convenient to you. If you decide to trade YFI tokens with leverage via perpetual contracts on FTX, you need to understand the risks around leverage trading first, FTX has a help section focused on this.

FTX Exchange is one of the first cryptocurrency exchanges to offer Yearn (YFI) tokens and are our top recommendation when deciding which exchange to trade on.

Signup - 5% Fee BonusBuy Yearn (YFI)
Step 2 -

Buy Yearn (YFI) Tokens

With an FTX account setup, you can now buy YFI tokens after you’ve deposited your desired amount of Bitcoin (BTC) on the exchange and converted it to USD through the conversion tool on the wallet page. Head over to the YFI tab when you’re ready to get started. Yearn (YFI) tokens can be bought with straight USD for spot tokens that you can withdraw at any time, or bought through perpetual contracts with leverage. Depending on why you’re interesting in YFI tokens, you can decide whether you want real YFI tokens or simply wish to trade the token in the short term.

In terms of functionality, Yearn (YFI) tokens on FTX operate just like any other token. You can either hold them in your wallet and withdraw them into your own wallet, or store them on FTX to sell when it is convenient to you. If you decide to trade YFI tokens with leverage via perpetual contracts on FTX, you need to understand the risks around leverage trading first, FTX has a help section focused on this.

FTX Exchange is one of the first cryptocurrency exchanges to offer Yearn (YFI) tokens and are our top recommendation when deciding which exchange to trade on.

Signup - 5% Fee BonusBuy Yearn (YFI)
Step 3 -

The Yearn (YFI) Token

The Yearn (YFI) token is used on the decentralized finance platform, Yearn. Yearn enables holders of tokens to increase the liquidity of tokens within pools and provides incentives for holders to put up their ERC20 tokens in return for interest and rewards. It’s essentially a decentralized lending platform that is making big moves right now.

Buying Yearn (YFI) tokens on FTX is an easy way to get started owning or trading YFI with no need for KYC or identity verification. If you are trading the spot markets, you own whatever YFI tokens you purchase as long as you withdraw them from the exchange when you’ve setup a YFI Wallet.

YFI tokens can currently be purchased on FTX, Balancer, Uniswap and many more exchanges but from our experience, FTX Exchange is by far the most secure and reliable when it comes to spot and leverage trading.

Step 3 -

The Yearn (YFI) Token

The Yearn (YFI) token is used on the decentralized finance platform, Yearn. Yearn enables holders of tokens to increase the liquidity of tokens within pools and provides incentives for holders to put up their ERC20 tokens in return for interest and rewards. It’s essentially a decentralized lending platform that is making big moves right now.

Buying Yearn (YFI) tokens on FTX is an easy way to get started owning or trading YFI with no need for KYC or identity verification. If you are trading the spot markets, you own whatever YFI tokens you purchase as long as you withdraw them from the exchange when you’ve setup a YFI Wallet.

YFI tokens can currently be purchased on FTX, Balancer, Uniswap and many more exchanges but from our experience, FTX Exchange is by far the most secure and reliable when it comes to spot and leverage trading.

Step 4 -

Convert USD to BTC

Whether your Yearn (YFI) trade went your way or not, you may want to convert your USD balance back to BTC for withdrawal. Luckily FTX exchange make this just as simple as it was when you started. Go back to your Wallet, search “USD” and click “Convert”. If you wish to perform KYC and upgrade your identity status on FTX Exchange, you can even request a bank transfer into your own account if you’d rather keep everything in USD and not bother with cryptocurrencies at all.

Following the screenshot provided, ensure the conversion is from USD Stablecoins (USD) to Bitcoin (BTC). Enter the amount of USD you’d like to convert and click “Convert” to proceed. You can obviously convert your USD to a wide range of cryptocurrencies on the platform if you’d rather hold something other than Bitcoin.

ftx usd convert btc
Step 4 -

Convert USD to BTC

Whether your Yearn (YFI) trade went your way or not, you may want to convert your USD balance back to BTC for withdrawal. Luckily FTX exchange make this just as simple as it was when you started. Go back to your Wallet, search “USD” and click “Convert”. If you wish to perform KYC and upgrade your identity status on FTX Exchange, you can even request a bank transfer into your own account if you’d rather keep everything in USD and not bother with cryptocurrencies at all.

Following the screenshot provided, ensure the conversion is from USD Stablecoins (USD) to Bitcoin (BTC). Enter the amount of USD you’d like to convert and click “Convert” to proceed. You can obviously convert your USD to a wide range of cryptocurrencies on the platform if you’d rather hold something other than Bitcoin.

ftx usd convert btc
ftx exchange btc withdraw
Step 5 -

Withdraw Your Funds

Unless you’re trading, never keep your coins on an exchange for an extended period of time. FTX Exchange has proven itself over time to be an extremely trustworthy exchange, but it’s just best practice to be in control of your own funds at all times. To withdraw your Bitcoin (BTC) or whatever funds you converted your USD to, go to your Wallet and click “Withdraw” on your new balance. Bitcoin (BTC) can be safely stored using a software wallet like Exodus or a hardware wallet like a Ledger Nano X.

Enter the amount of Bitcoin (BTC) you’d like to withdraw in the text-box provided. Enjoy the fee-less withdrawals FTX Exchange offers and make sure the withdraw address you have entered is yours and is correct.

When you’re happy, click “Withdraw”. You may be asked for phone/email verification before a withdrawal can be processed.

Step 5 -

Withdraw Your Funds

Unless you’re trading, never keep your coins on an exchange for an extended period of time. FTX Exchange has proven itself over time to be an extremely trustworthy exchange, but it’s just best practice to be in control of your own funds at all times. To withdraw your Bitcoin (BTC) or whatever funds you converted your USD to, go to your Wallet and click “Withdraw” on your new balance. Bitcoin (BTC) can be safely stored using a software wallet like Exodus or a hardware wallet like a Ledger Nano X.

Enter the amount of Bitcoin (BTC) you’d like to withdraw in the text-box provided. Enjoy the fee-less withdrawals FTX Exchange offers and make sure the withdraw address you have entered is yours and is correct.

When you’re happy, click “Withdraw”. You may be asked for phone/email verification before a withdrawal can be processed.

ftx exchange btc withdraw

Trade On FTX. A Cryptocurrency Derivatives Exchange Offering So Much More

A Wide Range Of Contracts

Trade FTT, BTC, ETH, EOS, BNB, XRP, LINK And So Much More

24/7 Support On
Demand

Powered by Alameda Research, FTX has a 24/7 OTC portal.

Countless Leveraged Tokens

Instantly SHORT or LONG with up to 3X leverage, no margin required!

FTX Exchange‘s Native FTT Token

FTT will get socialized gains from the insurance fund on FTX.

Trade On FTX.

A Cryptocurrency Derivatives Exchange Offering So Much More

A Wide Range Of Perpetual Contracts

Trade FTT, BTC, ETH, EOS, BNB, XRP, LINK And So Much More

24/7 Support On Demand

Powered by Alameda Research, FTX has a 24/7 OTC portal.

Countless Leveraged Tokens

Instantly SHORT or LONG with up to 3X leverage, no margin required!

Their Native FTT Token

FTT will get socialized gains from the insurance fund on FTX.

Congratulations!

You've just purchased Yearn (YFI) On FTX Exchange

That’s it!

There’s a ton of opportunities available on FTX and you’ve just traded Yearn (YFI) in a few simple steps. We highly recommend checking in regularly as more contracts become available on the platform.

Share via
Copy link
Powered by Social Snap