Top 6 Crypto Yield Farming Platforms in 2022
As the risk in crypto trading increases each day, people are looking for more passive ways to earn money with their crypto assets. Yield farming happens to be a great way to earn crypto without taking a lot of risks. It involves lending or saving your crypto to make more crypto from it. In this article, we’ll talk about some of the top and most popular yield farming platforms out there based on factors such as annual percentage yield (APY).
What is Yield Farming and why should you do it?
Yield Farming is a process used by DeFi platforms to create and manage a healthy liquidity pool for their users. It requires crypto holders to stake their tokens on the platform, in exchange for which they are rewarded with free crypto.
Yield Farming is not only the easiest but also a very safe and risk-free method of earning crypto. But, of course, you must already have some tokens, preferably popular cryptocurrencies like ETH, to earn good money with yield farming.
Top Crypto Yield Farming Platforms
1. Crypto.com
Crypto.com is a popular yield farming platform where you can stake as many as 50 different cryptos to earn interest. It is a regular crypto exchange platform where you can trade cryptocurrencies as well as use their exclusive VISA card to shop using crypto. As for yield farming, they offer an APY of up to 10–15% on different cryptocurrencies.
2. Metaple
Metaple is a one-stop solution for Yield farming. The platform is a multi-purpose multi-product crypto powerhouse that creates unmatched opportunities for the crypto user. The platform offers the best in the market returns with crypto farming. Along with Yield farming, it also offers to stake and swapping functions and CEX exchange to provide comprehensive crypto earning experience.
3. Coinbase
Coinbase is one of the most popular crypto exchanges in the world and the best yield farming platform for users in the US. If you are looking for a highly trusted and credible platform for yield farming, this is the one, however, the APY offered is rather lower than other alternatives.
4. AQRU
AQRU is a kind of savings account for cryptocurrencies where you can put your money to earn a compound interest that is paid daily. This is just like keeping your money in the bank and earning interest on it, but it’s better because the APY is higher and you earn interest daily. This is one of the simplest ways to generate income from cryptocurrencies.
5. Pure Oxygen Coin
PureOxygen was launched in 2022 and is a blockchain project that aims to reduce air pollution and make pure oxygen accessible to everyone in the world through the use of blockchain and other advanced technologies.
PureOxygen has its native utility token called PureOxygen coin and it is allowing users to stake their PureOxygen coins in the project’s contract to earn APY in the range of 10% and more. One of the best things about the PureOxygen project is that you can actively contribute to making the environment pollution-free by purchasing these coins.
6. DeFi Swap
This is a decentralized crypto exchange where you can trade cryptocurrencies without the need for middlemen. As a yield farming platform, DeFi Swap allows users to stake the native cryptocurrency, DeFi coin, to earn a high APY, which according to the website can be as high as 75% per year. You can buy DeFi coins from the Pancakeswap exchange.
Do know that there is still some risk in yield farming, as the value of your tokens may drop in the market and you might not be able to sell them when the tokens are locked in the contract. This is why yield farming is preferred only when you are investing in the long term.
