How To Buy YFI UK – Buy YFI In Under 5 Minutes

Fact Checked by Gary McFarlane

In concert with other altcoins such as Shiba Inu and Bonfire, YFI is one of the latest cryptocurrencies to make its debut in the DeFi market. Since its official launch on 17th July 2020, Yearn.finance has grown exponentially within the space of 12 months, attracting plenty of attention

With a current market capitalization of $1,057,770,043 and a market price of $28,886.71 YFI, the ERC-20-based governance token of Yearn.finance, has been rallying to try and become the next crypto high-flyer.

If you want to buy YFI in the UK you will need to open an account with a trusted crypto broker or exchange that offers competitive fees and security when buying digital assets. In this beginner’s guide, we’ll explore all the key metrics from start to finish.

#1 Broker to Buy YFI – eToro

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$50Exclusive promotion
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  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

How To Buy YFI – Choose a Broker

With so many online brokers and crypto exchanges out there, how do you decide which one is the best match for your trading needs and goals? The key metrics you need to consider when selecting a crypto trading platform to buy YFI in the UK include fees and commissions, payment methods, regulations, account types, and financial instruments.

Let’s take a look at the best online brokers and crypto exchanges to use when it comes to buying Yearn.finance in the UK.

  1. eToro – Overall Best Broker to Buy YFI UK
  2. Coinbase – Best Crypto Exchange to Buy YFI for Beginners
  3. OKEx – Best Low-Cost Exchange to Buy YFI UK via a Crypto Deposit
  4. Binance – Best Cryptocurrency Exchange to Buy YFI with Low Commissions
  5. Coinjar – Best Crypto Exchange to Buy YFI UK with Low Crypto Deposit Fees

If you’re looking for in-depth reviews of each crypto exchange and online broker in the list above, make sure you keep reading.

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CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

How to Buy YFI in the UK – A Quick Guide For 2022

If you’re a UK-based trader and crypto enthusiast and want to invest in Yearn.finance today this walkthrough will show you how to buy Yearn.finance in a matter of minutes. For this bitesize guide, we’ll cover how to buy YFI in the UK with eToro – a commission-free FCA-regulated broker that offers market-leading spreads and copy trading features.

  • Step 1: Sign-up for an eToro Account – The eToro account opening process is user-friendly and easy. To get started, head over to the eToro.com website and click on Join Now, then populate the fields with your details.
  • Step 2: Account Verification – As part of the KYC process, new investors are required to upload proof of identity and address such as a driving license and recent utility bill.
  • Step 3: Deposit Funds – To buy Yearn.finance in the UK you will first need to deposit funds into your live brokerage account. Tap on ‘Deposit Funds’ then enter the amount and choose the currency. Finally choose from your preferred payment method i.e debit card or PayPal.
  • Step 4: Buy YFI – Now simply search for Yearn.finance, tap on the button marked ‘Trade’, and specify your investment amount. Last but not least, tap on ‘Open Trade’ to buy YFI in the UK.

When you place a market order on the eToro social trading platform, you will be buying the underlying asset straightaway. Furthermore, you can invest as little as $25 and take ownership of a portion of YFI as eToro supports fractional trading.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

Where to Buy YFI in the UK

With a simple ‘Buy YFI’ search on Google you will be inundated by the vast array of online brokers and crypto exchanges that are available. With so many options saturating the online trading space, how do you decide which one is best for your crypto trading goals?

In this section we will examine five of the best brokers and cryptocurrency exchanges to buy YFI in the UK!

1. eToro – Overall Best Broker to Buy Yearn.finance UK

From the thousands of available online brokers we found that eToro is by far the best place to buy YFI in the UK. Launched in 2006, this social trading eToro logo platform has become home to more than 20 million traders and boasts some of the best market-leading spreads and 0% commission trading in the online trading space. eToro offers a user-friendly trading experience with an intuitive platform available on both desktop and as a mobile trading app. All in all, opening an account, depositing funds, and buying YFI and a host of other altcoins can be done in a matter of minutes, anytime and anywhere.

When it comes to fees and commissions eToro offers 0% commission trading on its supported financial assets. With regards to cryptocurrencies, you will only have to pay the spread which is the difference between the bid and ask price. At eToro, the current spread for Yearn.finance is just 2.9%. Moreover, eToro facilitates low-cost trading as you can invest as little as $25 and take ownership of a more affordable percentage of YFI, especially as the market price for a whole YFI token is over $28,800.

In keeping with the user-friendly interface and structure, eToro offers two account types. You can choose between a live trading account and a demo account that features $100,000 of paper funds. Demo accounts are perfect learning vehicles for online investing, as you can practice your crypto trade strategies in a risk-free environment that is based on current market conditions. Once you are confident and have familiarized yourself with the eToro platform you can go ahead and open a real brokerage account and buy YFI tokens with tight spreads from the comfort of your own home.

eToro crypto trading YFI

If you’re searching for a more passive approach to online crypto trading, you will be pleased to learn that eToro offers copy trading features including CopyTrader and CopyPortfolio. With CopyPortfolio you can invest in a theme or portfolio of expert eToro traders with the click of a button. You should also keep in mind that the minimum investment for CopyPortfolio is $5,000. However, if you use the eToro CopyTrader tool the minimum investment is just $200 and you can copy the trade strategies of up to 100 different advanced traders at the same time.

In terms of payment methods, eToro supports a wide range of options for your convenience. These include credit cards, debit cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna / Sofort Banking, Bank Transfer, Online Banking – Trustly (EU region). There are no deposit fees or account fees, but withdrawals incur a fee of $5. eToro only supports USD as the account base currency. This means that a conversion fee of 50 pips is charged for non-USD deposits via bank transfer. The deposit times also vary depending on the chosen payment method; for example credit card deposits are credited instantly to your account, whereas bank transfers can take between 4-7 business days to process.

eToro CopyPortfolio

As for regulation and security, eToro is regulated and authorized by top-tier financial regulatory bodies including the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). What’s more, eToro holds 90% of its clients’ funds in segregated bank accounts as well as providing negative balance protection.

Clients in the United Kingdom can open a trading account with eToro (UK) Ltd and thus are covered by the Financial Conduct Authority. The Financial Services Compensation Scheme protects UK traders up to $85,000 if the broker goes bankrupt (FSCS). To summarise, eToro is the top online trading platform for investing in YFI and other financial products with low trading and non-trading fees.

Pros

  • Buy and sell cryptos with market-leading spreads
  • Access heaps of stocks listed on 17 international markets
  • Invest in multiple cryptos with as little as $25
  • CySEC, ASIC, and FCA-regulated
  • Wide range of payment methods available

Cons

  • USD is the only available account base currency

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – Best Crypto Exchange to Buy YFI for Beginners

Coinbase logo

Coinbase is one of the top cryptocurrency exchanges in the world with a market cap of $47.92B, and according to coinmarketcap.com it has an average dailytrading volume above $1.4 billion. Coinbase (NASDAQ: COIN) went public in a blockbuster IPO (initial public offering) on the NASDAQ exchange in April 2021.

When it comes to the trading fees, the fee structure is rather cumbersome to say the least. When you buy crypto coins with an instant purchase via a credit card or other instant deposit you can expect high fees as the majority of fees come from the instant deposit via debit or credit card which costs 3.99%. There is also an additional Coinbase Fee which is the greater of either a flat fee or a variable percentage fee based on region, product feature, and payment method. The flat fees are as follows:

Buy/Sell Transaction amount Flat Fee
$0 – $10 $0.99
$10 – $25 $1.49
$25 – $50 $1.99
$50 – $200 $2.99

Coinbase Variable Fees for UK Clients and Payment Methods

Standard Buy/Sell Instant Buys (debit card only) Bank Transfers (SEPA) – in/out* Faster Payments Instant Card Withdrawal
1.49% 3.99% Free/€0.15 Free up to 2% of any transaction and a minimum fee of £0.55

When it comes to non-instant purchases such as via bank transfers Coinbase offers free deposits and charges a spread of 0.5%. There are no minimum deposits at Coinbase and there are two account types to choose from including an individual standard account, and a Pro account which is suited to advanced and active crypto traders who are interested in trading larger volumes.

Coinbase

At Coinbase, UK-based users can choose from a variety of payment methods including debit cards, bank transfers (SEPA), Faster Payments.

Is Coinbase regulated? Coinbase complies with all existing and applicable standards and regulations set by each financial regulatory authority in every jurisdiction that it operates. Another promising factor when assessing the safety of Coinbase is that it is listed on the US NASDAQ exchange and therefore discloses its financial reports. Coinbase is also registered with FinCEN as a Money Services Business and continues to voice its commitment to obtaining the necessary licensing to comply with local laws and regulations.

Coinbase Buy YFI in the UK

Pros

  • User-friendly trading platform
  • Streamlined account opening process
  • No inactivity fees
  • $0 minimum deposits
  • Registered as a Money Services Business with FinCEN

Cons

  • No 24/7 customer support

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

3. OKEx – Best Low-Cost Exchange to Buy YFI UK via a Crypto Deposit

OKEX

OKEx, situated in Belize, was founded in 2014 by Star XU and is a popular cryptocurrency exchange. The company, which is based in Hong Kong, has substantial financial backing. Originally based in China, the exchange, along with its subsidiary OKCoin, relocated to Hong Kong when the Chinese government banned the trading of initial coin offerings (ICOs). As a result, OKEx now focuses its aim on the international markets.

OKEx features some of the lowest trading fees across the board when compared to other top-rated crypto exchanges such as Binance, Coinbase, and Bithumb. Limit orders put in the order book before the trade are known as maker orders. If the BTC market price is 10,000 USDT and you place a maker order for 9,900 USDT, the order will not be completed right away. Instead, it’s added to the order book, where it can be filled by other users. You’ll pay the creator fee after filling out the form, and another user will pay the taker fee.

Tier Total OKB holding 30-day trading volume(USD) Maker fee Taker fee 24h withdrawal limit (BTC)
Lv 1 < 500 < 5,000,000 0.080% 0.100% 500
Lv 2 ≥ 500 < 5,000,000 0.075% 0.095% 500
Lv 3 ≥ 1,000 < 5,000,000 0.070% 0.090% 500
Lv 4 ≥ 1,500 < 5,000,000 0.065% 0.085% 500
Lv 5 ≥ 2,000 < 5,000,000 0.060% 0.080% 500

You can buy YFI in the UK on OKEx in a few minutes using a wide range of payment methods such as debit and credit cards, bank transfers and PayPal.

OKEx buy YFI

In terms of regulation, OKEx provides users with access and utility through its trading platform via software, application program interface, technologies, products and more. OKEx uses the following service provider, Aux Cayes FinTech Co. Ltd, which is registered with the Seychelles Financial Services Authority (FSA). However, OKEx is not regulated by the UK’s FCA which means that UK-based clients are not protected by investor protection schemes such as the FSCS.

Pros

  • Interact with other OKEx traders via social media groups
  • Trade cryptos anywhere anytime with the OKEx mobile app
  • The minimum deposit is just 10 USDT
  • Access a wide range of 150 cryptos like YFI, SUSHI, AAVE
  • SA secure crypto cold wallet

Cons

  • Not regulated by the FCA

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

4. Binance – Best Cryptocurrency Exchange to Buy YFI with Low Commissions

Binance

Founded in 2017, Binance has become one of the world’s largest crypto exchanges that provides a platform for users to buy, sell and hold an array of digitalassets. According to coinmarketcap.com Binance recorded a 24-hour trading volume of more than $50 billion. Binance has roughly 13.5 million active users and offers access to over 150 cryptocurrencies including Bitcoin (BTC), Uniswap (UNI), Dogecoin (DOGE) and Ethereum (ETH).

With that said, Binance is host to a myriad of cryptocurrencies so whatever your preferred digital asset is, chances are you are likely to find it at Binance. The bulk of Binance’s offerings come in the form of crypto-to-crypto pairs, which means trading one crypto against another in a similar fashion to popular forex currency pairs. For example, the BTC/USDT crypto pair is the shortened term for Bitcoin against Tether. Binance also offers a range of fiat markets meaning that you can trade crypto-to-fiat pairs with the click of a button.

Binance buy YFI in the UK

To buy, sell, and trade cryptos with a Binance account, you will need to deposit funds into your account. Binance accepts both fiat and crypto deposits depending on your location, and you can choose to deposit via cryptos, debit or credit card, and bank transfer. On the flip side, there is no option to deposit via popular e-wallets such as PayPal. As for trading and non-trading fees, UK-based clients will face a 1.8% fee when depositing via debit/credit card, but when you deposit funds with a cryptocurrency you will only need to pay the blockchain fee on your side of the transaction.

Trading commissions are applied when buying, selling, or trading cryptos on the Binance exchange. As seen with most crypto exchanges, Binance supports a maker-taker commission model. For beginners who don’t know, a market maker is a trader that provides liquidity while a market taker is a trader that uses the available liquidity. The standard commission charged by Binance is 0.1% per slide. Simply put, you will have to pay 0.1% when you open a position and again when you close it. You can reduce the maker fee to 0.02% per slide if you trade over 150,000 Bitcoins per month.

You can also minimize your trading commission by holding the utility token – Binance coins (BNB) which can be used to trade and pay fees on the platform. Developers can also use the BNB tokens to power apps on the Binance Smart Chain.

Why is Binance facing investigation and criticism from financial regulators? In recent weeks the UK’s Financial Conduct Authority announced that Binance’s UK entity has been banned from conducting any regulated activity. On June 27th, the FCA warned crypto traders based in the UK about the associated risks when trading on the Binance platform, which is coming under increasing global scrutiny from regulators and governments. The concerns come after the US Justice Department and Internal Revenue Service flagged Binance for offering crypto tokens without an investor prospectus.

Nevertheless, UK crypto enthusiasts can still gain access to the Binance.com website, as the FCA does not have any governance over it.

Pros

  • Supports high daily trading volume levels
  • Offers heaps of crypto-to-crypto pairs
  • Market-leading trading commission as low as 0.1% per slide
  • Lower your trading fees with BNB tokens
  • Debit/Credit card, local bank transfer deposits accepted

Cons

  • Does not support deposits or withdrawals via e-wallets

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

5. Coinjar – Best Crypto Exchange to Buy YFI UK with Low Crypto Deposit Fees

Established in 2013, Coinjar is Australia’s top crypto exchange that has broadened its business to include UK markets, meaning that you can trade cryptos in Coinjar the UK with a CoinJar account. This widely popular crypto exchange may be ideal for beginners looking to buy YFI in the UK with low costs and a user-friendly platform. Just as an example of how inexpensive it is to invest in cryptos on CoinJar, you can invest in YFI with a minimum deposit of just £5.

This allows you to gain exposure to the volatile crypto markets without breaking the bank. Furthermore, withdrawing and depositing funds is straightforward as the crypto exchange accepts multiple convenient payment methods. These include credit/debit cards – which lead to instant YFI purchases in the UK. The instant purchases fees that you are likely to incur when trading cryptos on the Australian-based exchange amount to 2% of the transaction.

CoinJar buy YFI

Alternatively, you can deposit funds into your CoinJar account using a bank transfer, which comes with the advantage of 0% deposit fees. Once the funds are credited to your account, you can then purchase YFI in the UK at a 1% commission rate. In terms of security and licensing, CoinJar has obtained licensing from the Australian Transaction Reports and Analysis Centre. According to CoinJar, at least 90% of all client funds are stored offline in geographically redundant secure locations. CoinJar also utilises multi-signature technology to crypto assets that need to be stored in hot wallets.

Pros

  • User-friendly platform ideal for beginners
  • Access to 30+ cryptocurrencies
  • Convenient mobile trading app
  • £5 minimum deposit
  • Vast majority of client crypto-funds are held in cold wallets

Cons

  • Experienced traders may find CoinJar too basic for their needs and trading goals

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

How to Buy YFI in the UK – Detailed & Explained in Full

In this section of our beginner’s guide we will show you how to buy YFI in the UK in less than 5 minutes with the top-rated copy trading platform eToro.

Recommended Broker
eToro
Buy now

CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

Recommended Broker
Capital.com
Buy now

CFDs are complex instruments that have a high risk of losing money quickly due to leverage. 72.6% of retail investor accounts lose money trading CFDs with this provider.

Recommended Broker
AvaTrade
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CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

Rating
5.0
4.5
4.3
Mobile App Rating
1/10
10/10
9/10
Mobile App
Wallet
Number of Coins
1281715
Trading Fees
SpreadsCommissionN/A
Deposit Fees
N/A$0N/A
Withdrawal Fees
5 USD$0N/A
Regulated
N/AYesCBI and MiFID in Europe
Min. Deposit
50$$20$100
Leveraged Trading
N/AYes1:2 for cryptocurrencies
Bitcoin
$34544.83$34575.91$34662.27
Ethereum
$2380.64$2338.59$2344.43
XRP
$0.60$0.58$0.59
Tether
$1.00$1.00N/A
Litecoin
$108.59$106.68$107.21
Bitcoin Cash
$290.65N/A$288.80
Chainlink
$15.33N/A$15.56
Cardano
$1.06$1.03N/A
IOTA
$0.80N/A$0.78
Binance Coin
$358.82$412.76N/A
Stellar
$0.19$0.19$0.19
Bitcoin SV
$88.15N/AN/A
USD Coin
$1.01N/AN/A
EOS
$2.23N/A$2.20
Monero
$148.62N/AN/A
Credit Card
Paypal
Sepa Transfer
Skrill
Sofort
Giropay
Neteller

Step 1: Open a Crypto Broker Account

If you’re unsure which broker to choose from the plethora of crypto exchanges and online brokers, we have the best solution for you. We’ve studied the most reliable and popular online brokers and crypto exchanges and have concluded that eToro is by far the best available option in 2022.

eToro - Join now

So, to buy YFI in the UK you will first need to visit the eToro.com official website and click on the button marked ‘Join Now’. You will then be taken to an online form where you can populate the relevant fields with your personal details such as name, username, email address, password and phone number.

Next you will be asked to provide some additional information such as your national insurance number and your address. Lastly, to complete the setup process just verify your mobile number with the eToro code.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Verify your account

As part of the KYC process you will need to upload proof of identity and address, which can be in the form of a passport, driving licence, utility bill, or bank statement dated within the last six months.

The verification process can take between 1-2 business days, and you will be notified once your eToro trading account has been successfully verified.

Step 3: Make a First-Time Deposit

When it comes to funding your account, the minimum initial deposit is just $200, and thereafter the minimum requirement is $50. If you want to buy YFI in the UK instantly, the best option is to use a debit/credit card or an e-wallet such as Skrill, PayPal, and Neteller.

These payment methods are processed immediately, meaning that you won’t have to wait for the funds to be credited to your account as you would with a bank transfer which typically takes 4-7 days to process. Depositing capital into your eToro account is secure, private, and easy. All transactions are executed with SSL (Secure Socket Layer) technology, which helps to keep your personal data safe and secure.

When it comes to payment fees, eToro offers leading non-trading fees and thus charges $0 deposit fees and just $5 for withdrawals.

Step 4: Search for YFI

eToro search YFI