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

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

1
$200Exclusive promotion
Our score10
  • 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.

How to Buy YFI in the UK – A Quick Guide For 2021

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 tradingeToro 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

Buy YFI at eToro from $50 Now >

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

Cons

Buy YFI at eToro from $50 Now >

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

Cons

Buy YFI at eToro from $50 Now >

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 inCoinjar 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

Cons

Buy YFI at eToro from $50 Now >

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.

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 2021.

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.

Buy YFI at eToro from $50 Now >

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

Once you have successfully opened, verified, and deposited funds into your eToro brokerage account you can go ahead and buy YFI in the UK. Simply type ‘YFI’ in the search bar at the top of the screen and click on the relevant result in the drop-down list.

Step 5: Buy YFI UK

You should now have a YFI buy order window on your screen, as shown in the image below. From here you can specify how much you want to invest, but do bear in mind that the minimum investment for cryptos on eToro is $25.

eToro buy YFI Open Trade

A $155 investment in YFI will currently get you 0.01 YFI tokens. Once you are happy with your choices simply click the button marked ‘Open Trade’.

Buy YFI – Best Place to Buy YFI in the UK

What is the difference between a cryptocurrency exchange and a crypto broker? In this section of our beginner’s guide we will examine the differences between the two in more detail to help you make the right choice going forward.

Online Cryptocurrency Broker

The best place to buy YFI in the UK is with a regulated online broker such as eToro. This social trading platform is regulated by the UK’s Financial Conduct Authority and offers investor protection up to the first £85,000.

eToro online broker

Another key advantage of buying cryptos through a regulated online broker is that you can access other innovative trading features such as copy trading. eToro users have access to CopyTrader and CopyPortfolio which enable passive trading with the click of a button. In other words, you can copy the trade strategies of other experienced investors, or you can invest in a theme or portfolio of traders.

Cryptocurrency Exchange

A digital currency exchange is an exchange where you can trade cryptocurrencies online. You can buy cryptocurrencies with electronic monetary funds, fiat currencies, or other digital assets. A common characteristic of a crypto exchange is that it operates 24/7.

Another reason why many crypto enthusiasts are attracted to crypto exchanges is the anonymity factor. Decentralised crypto exchanges do not comply with KYC regulations, meaning that buyers and sellers are kept anonymous.

Binance crypto exchange

However, it is this level of anonymity that has caused many financial authorities and governments around the world to crack down heavily on crypto exchanges in recent times. Financial regulators are concerned about consumer protections and the real risks that cryptocurrencies pose in terms of money laundering and terrorist funding.

Developments in innovative technologies including cryptography ensure that crypto transactions are very secure. Decentralized crypto exchanges offer attractive benefits such as:

On the other hand, decentralized exchanges have a number of disadvantages including:

Ways to Buy YFI UK

In terms of payment methods, there are multiple ways you can buy YFI in the UK. What are some of the most popular ways to buy cryptos? Read on to find out.

Buy YFI with a Debit Card

Arguably the best way to buy YFI in the UK is via a Visa or Mastercard debit card, because the purchase is processed instantly.

Just bear in mind that to use your UK debit card to buy YFI, you will be required to verify both your identity and address as part of the KYC process. Consequently, eToro is the cheapest option with no deposit fees and a conversion fee of 0.5%.

Buy YFI at eToro with Debit Card Now >

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

Buy YFI with a Credit Card

Alternatively, you can buy YFI in the UK with a credit card. This payment method allows you to invest instantly – as the transaction is processed within seconds. Nevertheless, you may incur a cash advance fee, typically around the 4% mark, by your credit card provider.

Buy YFI at eToro with Credit Card Now >

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

Buy YFI With a Bank Transfer

You can also buy YFI with a bank transfer in the United Kingdom. You might want to use Binance for this because it supports the UK Faster Payments network. This means that your deposit will be credited to your account in a matter of seconds. Binance also doesn’t charge a fee for bank transfer deposits.

Buy YFI on eToro

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

Buy YFI With PayPal

PayPal, a widely popular and trusted e-payment method, allows you to buy YFI in the UK instantly easily and securely. If you’re looking to buy YFI with PayPal, then you’ll be happy to learn that eToro accepts deposits via PayPal.

Buy YFI at eToro with PayPal Now >

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

Buy YFI with Bitcoin

Lastly, you may be interested in crypto-to-crypto pairs such as YFI/BTC. In other words you may want to buy YFI in exchange for another cryptocurrency such as Bitcoin. You can do this via Binance or OKEx.

When it comes to buying YFI with Bitcoin, simply deposit your chosen DeFi token into the exchange and exchange it directly for YFI. You can store your YFI tokens on the crypto exchange until you are ready to sell at the right market price or you can withdraw them to a third-party crypto cold or hot wallet.

Why Buy YFI UK?

Price of Yearn.finance almost reached $70,000 in May 2021, but what is fuelling this bullish sentiment?

A lusterless crypto market did little to counterbalance Yearn.finance’s bullish trend as YFI’s price, its governance token, hit all-time highs in USD on May 12th, 2021 – of $93,435.53. However, since then the price of YFI has dropped by -69.4014% to a current figure of $28,589.93.

Yearn.finance has a 24-hour trading volume of $148,269,488, and its current price represents a 4.68% increase when compared to the same time yesterday.

CoinMarketCap YFI chart

Yearn.finance was launched by Andre Cronje and was designed to make DeFi trading and activities simpler for the casual investor. The platform uses several tools to act as aggregators for the DeFi protocols including Curve and Aave, providing traders with the best returns. Yearn.finance is compensated by charging a 0.5% withdrawal fee, in addition to a 5% gas subsidization fee. Due to its governance structure, these fees can be voted upon and altered by consensus.

How does Yearn.finance work?

The way Yearn.finance works is relatively easy to fathom, particularly for beginners with little to no online trading experience. The Yearn.finance protocol utilises an app that continuously monitors data on crypto lending projects. It then compiles this information thus giving crypto traders accurate insights as to where they can earn the highest interest from lending. The premise is to give investors a platform to amplify their potential returns.

Additionally, Yearn.finance also automatically moves your crypto assets through lending platforms to help you gain maximum profits on your investments. Aside from its return boosting functionality, Yearn.finance also supports several popular crypto assets such as USDC, USDT, SUSD, TUSD, DAI.

In other words, at Yearn Finance you can earn a profit from your stablecoin holdings. Besides this, you can also speculate on the price movements of YFI, which is the protocol’s governance token.

Yearn.finance native governance token YFI has a fixed supply of 30,000 coins

Arguably the top reason for any speculative trader to invest in YFI is that it has a low fixed supply of tokens. Like all other financial markets, with cryptocurrency trading the coin supply has a direct impact on the long-term potential of the asset.

The principle is relatively straightforward. A lower supply of tokens/coins leads to greater demand that forces the market price upwards. This is a crucial reason why Bitcoin (BTC) has seen exponential growth with highs of $63.7k within ten years. The demand for Bitcoin has been increasing while the supply of coins has been decreasing.

By applying the same thinking to the Yearn.finance protocol, you can clearly see that YFI has better token dynamics, in terms of supply and demand, when compared to Bitcoin. Simply put, Bitcoin has a fixed supply of 21 million whereas Yearn.finance has a fixed token supply of 30k.

This explains why YFI has seen all-time highs of over $93k, with some analysts predicting that the price could hit the 100,000 dollar mark in the foreseeable future.

The Cost of Buying YFI

As we have already discussed, to invest in YFI you will need to do this through an online broker or crypto exchange. Such providers are also looking to make money, and with many offering 0% commissions and tight spreads, you should expect to pay a small fee to invest in YFI in the UK.

Let’s explore some of the key fees to keep in mind when buying YFI online.

Deposit fees

Deposit fees vary depending on your preferred payment method. We found that eToro operates in USD and therefore does not charge any fees for deposits made in US dollars. The copy trading platform accepts deposits in 14 international fiat currencies which include: EUR, GBP, AUD, RMB, THB, IDR, MYR, VND, PHP, SEK, DKK, NOK, PLN, CZK. When converting the funds to USD, you will incur a conversion fee, typically set at 0.5% or starting from 50 pips.

Trading Fees & Commissions

When it comes to buying cryptos online via a broker or an exchange, you will likely encounter trading commissions and fees. In the case of eToro, this top-rated broker offers 0% commission trading with market-leading spreads. For those who are unfamiliar with spreads, this is simply the difference between the bid and ask prices.

For example, the only trading fees charged by eToro are tight spreads. This means that when you buy YFI you will pay a spread of just 2.9%. Additionally, when you purchase cryptos on eToro you gain ownership of the assets, and can store them in the secure eToro Money crypto wallet.

Risks of Buying Uniswap in the UK

There are associated risks involved when trading cryptos as they are decentralized assets and therefore are susceptible to high levels of volatility. With an all-time high of more than $93k YFI is now trading in the high $20k mark. This represents a dramatic vacillating market price which is influenced by investor sentiment.

Regulations

Although the FCA does not regulate cryptocurrencies, crypto exchanges are required to register with the UK’s financial authority. The Financial Conduct Authority (FCA) has outlawed the use of crypto derivatives by ordinary investors in the United Kingdom. Furthermore, just last month the FCA issued a warning to the popular crypto exchange Binance, and announced that it is not permitted to conduct any regulated activity in the UK.

YFI has competition

Several investment analysts have suggested that Bitcoin’s price has bottomed out, but even if these forecasts are true, there are other popular altcoins that are stirring things up in the DeFi sector such as Polygon (MATIC), and Cardano (ADA).

Selling YFI: A Quick Overview

When it comes to speculative trading, investors make profits from rising market prices and can therefore sell their digital assets at a higher price than the initial purchase cost.

Another trading strategy designed to make the most amount of profit within the standard trading hours of a single day. The rationale behind crypto day trading is to seek out unique trading opportunities that have the potential to yield quick and high profits.

So, let’s take a quick look at this scalping strategy:

How to Buy YFI UK – Conclusion

This beginner’s guide has covered everything you need to know to buy YFI in the UK securely and with low costs. While crypto exchanges may be a popular choice for active traders due to the anonymity factor they are targets for hackers and are unregulated by top-tier financial regulatory bodies such as the FCA.

In summary, we recommend eToro as the best online trading platform as it is regulated by multiple financial authorities including the FCA, CySEC, and ASIC. Opening an account, depositing funds, and buying cryptos is fully digital and easy when using eToro. Furthermore, you can gain exposure to the crypto markets on a budget and buy YFI in the UK with a minimum investment of just $25. You can also use the social and copy trading tools to your advantage, as well as benefit from commission-free trading.

1
$200Exclusive promotion
Our score10
  • 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

FAQs

What is YFI?

What is DeFi?

Which crypto to buy?

How much is 1 Bitcoin?

Where to buy Bitcoin?

About Dassos Troullides PRO INVESTOR

Dassos Troullides is an experienced finance writer who specializes in CFD, stock, and crypto trading. In particular, Dassos is skilled at breaking down complex financial topics to help new and advanced investors make better trading decisions. Dassos has also written for BuyShares as well as TradingPlatforms.