How To Buy Harvest Finance (FARM)?

A common question you often see on social media from crypto beginners is “Where can I buy Harvest Finance?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. Thanks to its massive popularity, you can now buy Harvest Finance on most cryptocurrency exchanges, including Coinbase and Binance in 3 simple steps.

Step 1: Create an account on an exchange that supports Harvest Finance (FARM)

First, you will need to open an account on a cryptocurrency exchange that supports Harvest Finance (FARM).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Harvest Finance (FARM) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Harvest Finance (FARM)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Harvest Finance (FARM) or Harvest Finance (FARM) trading pairs. Look for the section that will allow you to buy Harvest Finance (FARM), and enter the amount of the cryptocurrency that you want to spend for Harvest Finance (FARM) or the amount of fiat currency that you want to spend towards buying Harvest Finance (FARM). The exchange will then calculate the equivalent amount of Harvest Finance (FARM) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Harvest Finance (FARM) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Harvest Finance (FARM)?

Harvest Finance is a Yield Aggregator that aggregates and automates the process of yield farming for the users. As Decentralized Finance (DeFi) has grown, it has become increasingly common practice for protocols to provide token rewards in return for utilizing their platform, generally in the form of ‘staking’ tokens. Collecting these rewards is generally referred to as ‘yield farming’ or ‘liquidity mining.’ Harvest Finance acts as in intermediary in this process, collecting tokens from many users and staking them en-masse on behalf of their users, saving them network fees (gas) and improving annual returns through auto compounding mechanisms.

On a regular basis, Harvest Finance automatically collects or ‘harvests’ the reward tokens on behalf of the users and exchanges them for more of the underlying assets that users deposited, thereby compounding the interest they earn. This saves the users both time and the network fees associated with making multiple transactions.

Harvest Finance team works hard every day to utilize the latest and most profitable techniques to bring returns to their users. New projects are relentlessly evaluated and pursued to increase our growing repertoire of yield farming strategies.

Every new project is evaluated through the following stages:

• Analyze project reputation
• Review Tokenomics – TVL, rewards, distribution, fees, deflation
• Audit smart contracts for safety
• Create a strategy for collecting and auto-compounding rewards
• Release and activate strategy – grant weekly FARM rewards

What is the FARM token?

FARM is Harvest’s governance token. And FARM token holders not only get to vote on the future direction of the protocol, but they also receive incentives to provide liquidity. Moreover, they get to participate in profit sharing from yield farming revenue. Cashflows come from Assets Under Management while protocol profits keep incentives aligned for users to hold a stake and govern. 

Harvest will cap the total supply of FARM tokens over the next four years at 690,420. And Liquidity Providers can deposit stablecoins, tokens, or pool tokens to earn their share of it. Users can either decide to swap their FARM tokens or use them to provide liquidity and earn fees. Capital will be distributed as follows: 30% of the yield farming revenue will go to those who stake FARM, while the remaining 70% will be returned to users who provide capital. 

Also, Harvest charges no additional fees for withdrawing or depositing assets. The protocol will, however, collect transaction fees from swaps. Harvest can use these funds for bug bounties, security audits, and also for new projects. 

Harvest Finance development updates in 2023

Harvest Finance, a decentralized finance (DeFi) protocol built on the Ethereum blockchain, has continued to evolve in 2023, focusing on enhancing its features and capabilities. Here’s a summary of the most notable developments:

• Enhanced Yield Farming Features: Harvest Finance remains a robust platform for yield farming, making it easy for users to discover and engage in yield-generating opportunities. The platform has been designed to simplify the process of yield farming, enabling users to deposit any token and track their earnings through a user-friendly interface. This includes viewing APY breakdowns, rewards, and detailed farm descriptions through dynamic charts and advanced search functionalities​​.

• Vault and Strategy Optimization: The protocol continues to use its vault system, where smart contracts hold deposited funds and execute various yield-generating strategies. These strategies are continuously evaluated and updated to ensure profitability and efficiency. The vaults automatically perform trading actions to maximize returns for users​​.

• Tokenomics and Governance: The FARM token, Harvest Finance’s native ERC-20 token, plays a crucial role in governance, staking, and voting on proposals within the platform. Users who stake FARM tokens can influence decisions regarding the project. The token’s distribution is designed to incentivize liquidity providers, operational treasury, and the development team. As of early June 2023, the FARM token had a market capitalization of around $19 million with a circulating supply of approximately 681,174.81 tokens​​​​.

• Community Engagement and Transparency: Harvest Finance continues to be community-driven, with an emphasis on open-source development. The platform encourages community contributions and engagement on social media and other channels. This approach has helped in maintaining transparency and fostering a collaborative environment among users and developers​​​​.

• Platform Security and Audits: Security remains a top priority for Harvest Finance. The platform has undergone multiple audits to ensure the safety and reliability of its smart contracts and overall system. These audits are aimed at identifying and mitigating potential vulnerabilities, thereby enhancing the protocol’s security​​.

• User-Friendly Interface and Access: Harvest Finance has made significant efforts to provide a seamless and intuitive experience for users. This includes offering tailored farm pages, a portfolio page for tracking earnings, and over 100 different farms catering to various preferences like NFTs, stablecoins, and liquid ETH derivatives​​.

These developments indicate Harvest Finance’s commitment to improving its DeFi offerings, focusing on user experience, security, and effective yield-generating strategies. As the platform continues to evolve, it remains an important player in the DeFi space, providing users with diverse and innovative ways to maximize their cryptocurrency investments.

Official website: https://harvest.finance/

Best cryptocurrency wallet for Harvest Finance (FARM)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Harvest Finance (FARM)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).