A Beginners Guide to Yield Farming
- Disclaimer: Never financial advice, always do your own research before doing these things.
Originally posted on April 15, 2021, on my blog.
Crypto has been trending for the past six months, but it recently has attracted the eyes of institutions and the general public with Coinbase’s recent IPO. I wanted to talk about Decentralized Finance (DeFi) and what it means to participate in yield farming. Since there aren’t as many blogs and resources teaching these things, I wanted to provide my take and what I learned from my friends in the crypto community.
Note: xBLZD and BNB will be the two coins that I’ll be referring to throughout the blog. It’s also important to understand that this yield farming happens on the Binance Smart Chain (BSC) network.
Getting Started:
Buy the Binance Coin (BNB)
The majority of the time, I use the Binance Exchange to buy BNB using USDC or USDT. If you don’t have Binance but would like to sign up, you can use my code: FK7FNG6Y.
Add BSC to Metamask network
The next thing would be to connect your Metamask wallet to the BSC network. Binance has a good guide that I’d recommend. For this, you would want to add the details under the “Mainnet” header.
