Bitstamp demonstrates its ongoing support for decentralized finance by launching another DeFi-focused asset as part of August’s major coin-listing expansion for US consumers. YFI is a Yearn finance governance token.
Yearn Finance is a decentralized finance aggregator that streamlines operations to facilitate optimal yield farming profitability. It consists of a group of products aimed at generating profit on smart contract platforms like Ethereum. YFI token holders manage the protocol, maintained by a group of independent developers. For additional information, you can read Yearn.finance Review.
The new project debuted in February 2020 under the name iEarn. Within a year, it grew significantly due to the introduction of new goods and the launch of the YFI coin, which is currently available on Bitstamp.
One of the exciting things is that YFI is the first crypto token to be valued more than BTC. It happened only a few months after the token’s launch. While its value has subsequently fallen compared to BTC, its current worth of about $39,000 still says volumes about the token’s performance. This is due to the tiny number of tokens in circulation and the enormous amount of money locked up.
Founded in 2011, Bitstamp is the product by Damijan Merlak, who is also one of its co-founders. It is registered in Luxembourg and has its headquarters in the United Kingdom. It is one of the first cryptocurrency exchanges to enter the market, and caters to a wide range of customers, from novices to expert traders. Bitstamp allows users to trade fiat currency for Ethereum, Bitcoin, Litecoin, Bitcoin Cash, and Ripple.
Customers can use their debit and credit cards to withdraw and deposit currencies such as USD, GBP, and EUR. It is vital to read Bitstamp review by experts before using the exchange platform.
Bitstamp offers 15 digital assets and 56 Cryptocurrency trading pairings to its customers. One of Bitstamp’s key advantages is its user-friendly website for traders.
Bitstamp allows customers to buy Bitcoins using fiat money like the US dollar, Chinese Yuan, British Pound, etc.