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I just invested in Binance Smart Chain Harvest.Finance USDT Venus strategy! #BinanceFARMer

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Written by   5
8 months ago

After several investments today in DeFi, I have about $1400 left in USDT. I decided to invest it with the USDT Venus strategy on Harvest.Finance. The aim of this strategy is to make sure you get stable profits that are not disturbed by the different asset prices present in cryptocurrencies. See how I did it.

First, we go to the Harvest.Finance website and click the Venus section. Then we see the USDT strategy. The current interest rate is as high as 31.09%, of which 11.08% is XVS rewards and the remaining 20.01% is bFARM reward, which we will be able to exchange into FARM and sell at a profit or reinvest further in the FARM Profit Sharing Pool!

Click Deposit and confirm the first transaction.

After the first approval, it was time for the USDT deposit. We confirm the next transaction.

We then approve just two more trades on the fVENUS-USDT pair and start the Staking process. Great! At this point, our earning from staking stablecoin USDT has started. The interest rate of over 30% is really satisfying if we look at the fact that it is a stablecoin so the strategy does not allow us to make money on the possible price increase.

Now you are probably wondering how much the transaction price was for all these operations. $1.38, that's it. For that much we can buy ourselves some sweet drink. It's really nothing. Just 0.099% of my investment. If I wanted to do the same but on the Ethereum network I would not be so happy anymore. And this is the biggest plus of the Binance Smart Chain. It allows practically anyone to start the adventure with DeFi. Very low commissions compared to ETH offer high flexibility and a low entry threshold for users with a smaller portfolio.

Why do I think investing in stablecoins is necessary in the context of a cryptocurrency portfolio? Diversification, is the most important thing to be aware of. If we have a spread of funds across multiple tiers then our assets are then less likely to suddenly fall in value. Imagine buying a token and the next day it drops 20%. Then our whole portfolio falls by 20%. And if the token is only 10% of the portfolio, the drop will be only 2% of our capital. You can see the difference. That is why it is worth to have some stablecoins in the portfolio as well as in the investment. We are sure of the stability of the assets and in the meantime we earn on commissions and participation in strategies. Pure profit.

My adventure with Harvest.Finance began three months ago and still continues. I wish you fruitful profits!

This is post provided to you by Publish0x, cryptocurrency portal I love to write on. Please check it out!

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Avatar for nervi
Written by   5
8 months ago
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