How to Farm
Here's the process to farm crypto for the first time:
- Choose an exchange and a liquidity pool.
- Obtain the crypto needed for the pool you chose. You can trade other crypto for it on the exchange's site. You may also be able to buy it on one of the major cryptocurrency exchanges.
- Connect your wallet to the exchange. Each exchange has a button you can click to link your wallet and deposit crypto.
- Go to the pool you want and click on the button to add liquidity.
- Decide how much crypto to deposit and approve the transaction.
The most important part is choosing an exchange and a liquidity pool. Research the reputation of the exchange and the crypto you'll be lending. Even though you'll be earning interest, you still want crypto that has the potential to grow and won't crash in value.
After you make your deposit, your crypto will be added to the pool and start earning interest. You can view your balance on the exchange at any time. Just go to the exchange's site, connect your wallet, and the pool will show your current balance.
If you want to withdraw your crypto, you can do that the same way. The only difference is that instead of choosing to add liquidity, you'll choose the withdrawal option. Some pools require you to commit your crypto for a set period of time or charge a fee if you withdraw yours too quickly.