Bitrue Launches Yield Farming Hub

 By Deya Hroob


bitrue farming



Bitrue Exchange recently announced a brand new feature called Yield Farming. This will be a new way for you to earn passive income without any risk of impermanent loss.  Bitrue have designed this feature in such a way that they are able to offer super high returns without putting any risk on the user. This is a significant factor that differentiates Bitrue from the rest of the market.

 

Using Yield Farming Hub on Bitrue is easy and secure, and you can earn up to 200% APYs in returns on your assets without having to do anything else except wait for your earnings.

What is Bitrue Exchange?

Bitrue is one of the most trusted and commonly used crypto exchanges.
It's launched in July 2018 and established by a group of blockchain enthusiasts.  Bitrue is a cryptocurrency exchange with support for trading, loans, investments and more. It's based in Singapore. They offer user with many features from trading spot and futures market, staking , loans , yield farming and much more.

What is Yield Farming?

 Yield farming is a technique used by cryptocurrency traders and investors to earn passive income. It involves staking one token to receive another token as a reward. Liquidity providers (LP) can stake their crypto assets in an automated smart contract-based liquidity pool which will then generate returns such as transaction fees, interest from lenders, or even earning governance tokens. These returns are usually represented as an annual percentage yield (APY). Yield farming provides crypto users with an alternative way to build passive incomes.



How to Stake XRP in Bitrue Exchange 

 


How Does Yield Farming Work?


Yield farming works by providing liquidity to a decentralized platform, such as a DeFi protocol. By supplying your cryptocurrency to the platform, you will be able to earn rewards in the form of tokens, interest payments, or swaps dependent upon the liquidity pool you invest in. Rewards are earned not only from lending out the coins in the pool but also from all trading activities that occur on it.

How to Use Yield Farming on Bitrue Exchange?

Steps how to start generating profits by using Yield Farming on Bitrue Exchange


1.       From the home page, go to Earn button on the top and choose Farms from the list.


yield farming


 2.       Now, all the pools available will show up with Est APY and the staking duration. You can see the coin that you may invest in and the coin which you will be rewarded with .

bitrue yield farming



3.       Choose the pool that suits you and hit Stake Now button




4.       A new pop up window will appear. This pop up window will contain all the needed information you want from Staking Period Date, Staking Period , Staking End Date and estimated APY. When you ready hit Confirm bottom and you're all set.



Now you can show your investment pools by clicking on Investment List icon.



In the Investment List you can see all the information about your invested coins and Est. profits. And from where you may redeem your invested coins early, however, if you do this all your rewards coins will be forfeit. 




Frequently Asked Questions


1. Is Yield Farming Safe?

Investing in yield farming comes with substantial risks. While it can be a profitable venture, there are no guarantees of safety and no investment is ever completely secure. Unforeseen issues may arise when dealing with third-party services, and the value of coins fluctuates, making it difficult to predict gains or losses. Therefore, potential investors should always weigh the risks before deciding whether to pursue yield farming as an investment strategy.

2. Is Yield Farming the Same as Staking?

 While both yield farming and staking involve holding funds or tokens in a wallet to generate profits, they are not the same. Yield farming typically involves participating in DeFi protocols and earning rewards by providing liquidity to a pool, while staking generally means locking up coins to receive interest rewards. As such, some investors view staking as part of yield farming but they are distinct activities.

3. Where to Do Yield Farming?

Apart from Bitrue platform, other best yield farms are : PancakeSwap , Curve Finance and Yearn Finance.


How to Buy and Stake Shiba in Bitrue Exchange 

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