Farming 1BCH-rBCH for dummies

December 8, 2021. No. 90

Truth be told: This is my first time doing Farm. I had never done it, either due to lack of capital to invest, or of knowledge due to the number of steps that need to be done, and which I was completely unaware of. I think the thing that held me back the most when farming was the idea of ​​having to deposit double the capital. I have already had too many mistakes in my life to trust something that means "investing" again. My last experience, which I no longer want to mention, was very painful. So I didn't even want to investigate how to farm in-depth, lest I be tempted to do so.

As everyone knows, a while ago, I bought with 0.045 BCH about 3104 BPAD. After several weeks of waiting, the BPAD managed to increase in value on the market, and I sold them for 0.092 BCH, doubling my initial investment. At that time I bought the new 1BCH token, with the help of @fantagira who helped the entire community. It was not easy, because it required a minimum of 0.1 BCH to participate. By then, I took that capital out of my accounts. I just don't like having him, when it comes to calculating to reach 1 BCH, which is my main goal before the end of the year. We bought the 1BCH tokens and when they were distributed to everyone, I got more than 5000 1BCH and another token called rBCH.

When the 1BCH was listed, my 5000 1BCH tokens came to be worth 1.2 BCH. Guess what? I did not sell them. Very serious mistake, which apparently I am always destined to suffer. I have participated in a few startup events when a token goes to market, but whenever I do, the price skyrockets for a few seconds then plummets. So the idea is to wait for it to rise at that time. Sell ​​them and when the price drops, buy them again. Obviously, you could even have twice what you had in the first moment.

I came to tell fantagira to manage my tokens, that without fear of any regrets that she made a mistake in handling them or any wrong decision she made, I would not recriminate it. I have neither the time nor the knowledge to go in and do staking or farming.

It wasn't until today that I decided to farm. You didn't have to use BCH, you could just do it on the 1BCH-rBCH pair.

• Pair: 1BCH-rBCH

• APR: 961%

• Liquidity: $52,000

This is the farm that currently offers the most APR, so I wanted to make a foray into this one. Fantagira even encouraged me, he told me it was very easy. His exact words were as follows:

“Try and work it out David, it's not that difficult. Just add equal amount of each tokens in Liquidity and then stake it on the farm. I'm heading to sleep now. It's past 1am here. Good luck”

What could go wrong? What one is most afraid of is to click where it is not and lose all the capital.

Step One: Add Liquidity.

This is where you have to have the same amount of coins in both tokens. In this case the same amount of 1BCH as rBCH. In my case, in order not to have to touch my Bitcoin.com wallet and continue with my savings and the main objective, I used my own tokens that I already had in both currencies.

I got about 9266 LP Tokens. With those, we would do farming.

Second step: Stake LP

The other step is to put those LP Tokens in the pair that you are going to farm. Again, simpler impossible. A few clicks and everything is confirmed.

Since I started doing Farm, in a few seconds I had already generated my first reward rBCH and it is increasing much more every moment. If in the future this token increases in value, then it will be time to celebrate.

Always remember DYOR and invest only the capital that you can afford to lose.

This may not be new to any of you, but it has been a huge breakthrough for me today. For those of you who are new or may not know how to farm yet, I hope the article will be of help to you. In conclusion: Do not be afraid of anything. You can do it.

Many thanks to @CoquiCoin for their sponsorship renewal. Speaking of sponsorship, I am very sorry that I could not even renew many of them. The main problem is that they all joined me the same day, you will surely remember why ahah. So now I'm slowly renewing everyone.

The latter is thanks to all of you who read me. Excuse me if you have felt my absence the last few days. It has really been almost impossible for me to be connected. I hope you understand.

Thanks for reading me. A virtual hug to all.

Credits

100% original content.

All images are referenced.

Dex: https://1bch.com