Yield farming crypto offers users an opportunity to earn a passive income off of their cryptocurrency investments, rather than just hoping the price will rise. For most people the idea of entering into the world of DeFi (decentralized finance) can be quite intimidating. Luckily a community of crypto users at BEES.Social has emerged and has taken the lead in educating people around the world on crypto, DeFi, yield farming, and blockchain technologies.
What is Yield Farming?
In this 3 part video series on yield farming crypto, Vince Wicker from BEES.Social discusses all the different facets of how yield farming crypto works by first setting the foundation and explaining DeFi (decentralized finance).
What is DeFi (Decentralized Finance)
What Are Liquidity Pools in Yield Farming?
These decentralized exchanges, also known as DEX’s, count on private users from around the world to deposit their funds into their liquidity pools. Through this group effort, those pooled funds act as the “bank,” which the exchange can make use of to execute automatic swaps for other cryptocurrencies. The incentive to depositors is they will receive some type of rewards such as additional crypto tokens.
How Do Yield Farmers Make Money?
DeFi Yield Farming With BEES.Social
BEES.Social has created their own crypto exchange that makes yield farming easy. Users can pick from a range of different DeFi projects to place their capital in. Exciting new DeFi projects continue to come through their exchange.
- If you’re interested in the learning more go to BEES.Social for their beginners crypto course, or connect to their exchange to start yield farming for the potential of a passive income.
