The Yearn.Finance (YFI) Price Chart 

When looking at how to buy and sell cryptocurrency, keep in mind that numerous cryptocurrencies and blockchain projects were designed with specific goals in mind. Yearn.Finance is one such project, and, on this occasion, we’re looking deeper into what it is, how it works, the YFI historical price, and more. Let’s begin.

What is Yearn.Finance (YFI)?

Technically speaking, Yearn.Finance is an aggregator service for decentralized finance (DeFi) enthusiasts. However, you can think of it as a service aiming to simplify the DeFi world for its users. 

It aims to accomplish this goal by using automation to empower users to maximize yield farming rewards. More specifically, it was designed for users who wish to interact with the crypto and DeFi spaces in a less committal manner than seasoned traders, including those who are not technically minded.

Yearn.Finance history

The project was launched in February 2020. Its native token, YFI, was released in July, and following a series of new product introductions, the platform experienced significant growth.

By the end of September 2020, the platform’s situation changed, with assets under total value locked (TVL) coming in at just over $1 billion. 

Who are the founders of Yearn.Finance?

The founder of Yearn.Finance is Andre Cronje. Formerly known as iEarn, Cronje left the platform in February 2020, but returned a few months later in July to oversee its rebirth. 

Cronje’s impressive track record in the cryptocurrency world has made his name practically synonymous with DeFi. He also holds positions at CryptoBriefing, a resource dedicated to initial coin offerings (ICOs), the smart contract ecosystem, Fantom, and in crypto media. 

How Yearn.Finance works

In its pursuit to act as an all-encompassing aggregator for DeFi protocols, the platform operates by using various custom tools. As mentioned above, one of its main goals is to make DeFi activities more accessible and straightforward for a wider user base.

Yearn.Finance generates rewards by imposing gas subsidization and withdrawal fees. However, due to the platform’s governance model, these fees can technically be altered by consensus at any time. 

Additionally, as the project’s continuous goal is to maintain the platform’s long term value, it continuously introduces new features. In exchange for providing liquidity, Yearn.Finance users earn YFI tokens.

YFI token holders have several governance privileges, including participation in decision-making processes. The platform’s target market are users who wish to optimize their potential rewards and prefer seamless engagement with the increasingly complex DeFi environment. 

Consequently, Yearn.Finance represents a potentially useful tool for individuals, DAOs, and even other protocols looking to earn rewards on their holdings. 

Current YFI price index

Too often, crypto enthusiasts mistakenly begin by looking for ways to anticipate future prices. However, it’s crucial to remember that absolute certainty - much like the notion of zero risk - simply does not exist in the crypto ecosystem.  Rather than relying on superstition, conducting careful research can be a preferred way to gather information about this, or any project.

Observing past and current YFI price trends, and performing a detailed price analysis of its progress over the years, may help you make more informed decisions. When in search of such data, it is vital to have access to the most up-to-date price charts and market information related to the coin/token in question.

CEX.IO’s award-winning Spot Trading platform is a one-stop-shop for live cryptocurrency prices and can serve as an ideal resource to better inform your crypto journey. 

CEX.IO’s comprehensive ecosystem of crypto products and services aim to provide an intuitive, straightforward user experience. As its name implies, CEX.IO encompasses a centralized crypto exchange, along with a vast repository of industry knowledge for participants at every stage of their crypto journey.

Between educational materials to expand your crypto knowledge, tutorials to help you navigate our ecosystem, CEX.IO University, and access to live crypto prices, there’s something for the crypto curious and crypto serious alike. 

Additionally, CEX.IO Spot Trading brings more than 300 crypto markets to the proverbial table, available for buying, selling, trading, and numerous other crypto transactions to discover potential opportunities. If you’re looking to learn more about the Yearn.Finance token stock price, CEX.IO is the place to acquire that knowledge in just a few steps. 

Yearn.Finance price history

If Yearn.Finance price over time is what you’re looking to learn more about, there are several noteworthy events from the platform’s history. 

YFI reached an all-time high (ATH) of $90,786.89 on May 12, 2021. Conversely, its all-time low (ATL) of $31.65 occurred on July 18, 2020. Yearn.Finance’s market cap as of December 14, 2023, is $283,887,826, with a circulating supply of 33,236 YFI.

Where to buy YFI

Yearn.Finance, or more precisely, its native token YFI, are available on numerous reputable and secure crypto platforms and exchanges. CEX.IO is one of these ecosystems, where you can buy, sell, convert, and trade YFI with EUR, USD, and USDT almost instantly.

Since its founding in 2013, CEX.IO has served more than six million users worldwide. Whether you’re only dipping your toes in crypto waters, or already have knowledge under your belt, CEX.IO is excited to welcome you. Our ecosystem provides straightforward ways to acquire, sell, or trade YFI tokens through an intuitive interface.

Our ecosystem empowers users to benefit from numerous crypto transactions. For example, you can buy Bitcoin with a bank account, a credit or debit card (depending on your location), and even buy Bitcoin with PayPal (currently available only for U.S. customers). 

Besides, 300+ crypto markets are available at our award-winning Spot Trading platform, with advanced order types, multiple sub-accounts, deep liquidity, and more. At CEX.IO Spot Trading, you can buy Bitcoin, buy Dogecoin, buy Ethereum, buy USDC, buy Tether, buy Binance Coin, and numerous other cryptocurrencies. 

How to buy YFI at CEX.IO

YFI is available for buying, selling, trading, and various other transactions at CEX.IO through a few straightforward steps. You can use various payment methods to complete your transactions, including:

• E-wallets
• Bank transfers
• Debit cards
• Credit cards

However, please note that the availability of the above mentioned payment methods depends on your region. Regardless, CEX.IO Wallet, and our Instant Buy service are two of the most intuitive avenues at your disposal for these transactions. Additionally, eligible participants may enjoy converting features, such as BTC to USD exchanges through CEX.IO Wallet on a web browser, or via CEX.IO App.

How to buy YFI with CEX.IO Wallet

You can buy YFI using your CEX.IO Wallet by following these steps:

• Log into your CEX.IO account (or create one and get verified);
• Hover your cursor over the Products tab on the homepage;
• Click on Wallet;
• From the Wallet dashboard, scroll down and select YFI from the list of available cryptocurrencies;
• Choose between Add Funds or Convert buttons next to YFI; 
• Follow the instructions on the screen to complete the desired transaction.

How to buy YFI with CEX.IO Instant Buy service

Another convenient way to acquire YFI is through our Instant Buy service: 

• Log into your CEX.IO account (or create one and get verified);
• Hover your cursor over the Products tab on the homepage and select Instant Buy;
• Under You receive, click the drop-down arrow and select YFI from the list of available currencies, and the amount you wish to purchase;
• Or, under the You pay field, enter the amount of YFI you wish to acquire in a preferred fiat currency;
• Once you’re satisfied with the values, click Buy;
• From the Add Funds page, click Select Payment Method to choose between card, Google Pay, or Apple Pay to proceed;
• After conducting a personal risk assessment, and verifying all transaction information, confirm your purchase.

FAQ

What is the YFI token? 

YFI is the native cryptocurrency token of Yearn.Finance. It provides holders with voting rights and other governance privileges.

What makes Yearn.Finance unique?

The platform uses various tools like Aave, Compound, and Curve, to act as an aggregator for DeFi protocols. Its purported goal is to bring the highest possible yield to those staking cryptocurrency. 

Why choose CEX.IO to buy YFI?

CEX.IO’s long standing reputation makes it an excellent choice for transacting with YFI tokens. Our platform provides numerous convenient pathways to buy YFI tokens with several reputable payment methods. Additionally, our Spot Trading platform provides a comprehensive and intuitive trading experience for eligible users, be it YFI tokens, or any other other 300+ crypto markets available on the platform.