What is bitcoin yield farming?

The same concept goes with yield farming: lending of bitcoin that would normally be sitting ideally in an account to produce returns,” according to the CFP, AIF, and owner of Hill Wealth Strategies, Daniel R.Hill. Thus, yield farming is a strategy for creating revenue on your bitcoin, similar to the interest on cash in a bank account.

What is yield farming in decentralized finance (Defi)?

What is yield farming in decentralized finance (DeFi)? Yield farming involves crypto lending and allows crypto investors to join a liquidity pool with no restrictions. Yield farming involves crypto lending and allows crypto investors to join a liquidity pool with no restrictions.

Will yield farming revolutionise crypto?

Therefore, because of its qualities and growing adoption across the space, yield farming is proving to be quite the innovation in the DeFi ecosystem and is set to potentially revolutionise the way crypto enthusiasts, investors and traders will HODL their assets from now on.

How do I participate in yield farming on compound?

To participate in yield farming on Compound, as well as most other farming platforms, users will need to: Acquire crypto that is used on the particular farming platform. Widely accepted crypto assets are ETH, BTC, and stablecoins such as DAI, USDT, USDC and BUSD (for BSC farming).