What’s behind a fresh wave of enthusiasm for crypto? It’s something called decentralized finance (Defi). Defi looks more like traditional banking than anything crypto has come up with yet – but it is also nothing like traditional banking. It has its own fresh set of jargon, including yield farming – a buzzword that people are losing their minds over.
Let’s find out how you multiply your crypto assets with yield farming in Defi on the BSC network!
What is Yield Farming?
Yield farming is when Defi market participants use assets that would otherwise be sitting idly in their wallets. It often requires providing liquidity or lending liquidity in a permissionless Defi protocol to earn passive income.
Yield Farming to Earn Profits
For a long time, making or losing money in crypto was solely a matter of speculating on the price of assets (like Bitcoin and Ethereum). Then some people built software on top of the Ethereum blockchain that somewhat acted like banks but without bankers. You could now take a loan out against yourself. All you had to have was ether to use as collateral; no paperwork, ID, or credit rating.
So, you put up some ether, and you’d get dollars or dollar-backed stable coins in return. This innovation led to decentralized apps (Dapps). Dapps offer a peer-to-peer finance system on the Binance Smart Chain (BSC). Dapps are the platform where you can do yield farming and stake your crypto assets to earn profits.
So, if you are not staking/lending your crypto holdings and earning rewards as a holder, it’s like putting your life savings in a bank and telling the suits to keep the interest. Thus, yield farming is a fruitful way to increase your crypto returns and earn passive income on the crypto you don’t want to sell.
Yield Farming on BUSDMatrix
Yield farming has been making headlines lately and has been on everybody’s radar. If you too want to become a part of this booming trend, invest BUSD in BUSDMatrix.io. It is a Smart Contract-based dApp on the Binance Smart Chain (BSC). BUSDMatrix allows you to multiply BUSD (a USD-backed cryptocurrency) while earning a high ROI of 119% to 234%.
Let’s take a closer look at the benefits of using BUSDMatrix for yield farming:
- High ROI – BUSDMatrix Smart Contract gives stable yield percentages of 7.8% to 17% on daily deposits based on a period of 7 days to 30 days.
- User-friendly – BUSDMatrix offers a simple layout and design to make it easy to understand the platform.
- Safe and Secure – BUSDMatrix offers 100% safety and security to users. This dapp is also audited by Haze Crypto.
- 24/7 Customer Support – BUSDMatrix offers 24/7 customer support via live chat on Telegram and social media accounts.
- Referral Program – BUSDMatrix has a referral program for users to generate extra income.
- Quick Deposit and Withdrawal – BUSDMatrix has quick deposit and withdrawal processing.
- Supports Multiple Wallets – BUSDMatrix supports different decentralized wallets. It supports 64 Defi wallets on mobile and 4 on desktop.
How To Do Yield Farming on BUSDMatrix?
Here is how you can do yield farming on BUSDMatrix:
1. Connect Wallet
Connect your decentralized wallet to BUSDMatrix by scanning QR codes or logging directly on the website.
2. Deposit BUSD
Now, enter the amount of BUSD you want to deposit.
3. Select Period
Select the number of days (ranging from 7 days to 30 days), depending upon how much ROI you want to earn.
After investing, you can also share the referral link to earn extra income.
Once you earn the profit, you can withdraw it into your wallet.
For more information about BNBPeach, please visit their website
Check out their Smart Contract here
If you have any questions, you can ask on their telegram channel
Disclaimer: This is a paid post and should not be treated as news/advice.