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Many investors and developers are trying to develop the next generation of yield farming platforms in the cryptocurrency space, which appears to be the hottest trend in the industry. Making passive income with the top yield farming platforms might help you get a jump start on building your crypto compound profits.
In this article, we’ll go over and assess the best cryptocurrency yield farming platforms, looking at their major features and stats along the way. We’ll also look at various cryptocurrency platforms for beginners who are interested in yield farming, as well as some leveraged crypto platforms.
If you’re new to yield farming, here’s a short video explaining how it works;
Here’s the list of the best yield farming platforms you need to look out for in 2022:
At the top of the list it has to be Weave. Weave is a Next Generation Yield Farming Platform that allows users to customize and optimize their farming. Yield farmers will be able to create their custom strategies for their favourite pairs (including cross-chain strategies as part of Phase 2) and set the yield to be harvested/compounded exactly as they want it using their proprietary drag and drop strategy builder. Users can may choose to compound only half of their yield and withdraw the other half, swapping into their favourite token on the way. Building strategies is simple and even enjoyable because of the drag and drop interface!
They are delivering an extremely powerful set of DeFi tools that are unlike anything else currently available on the market. They want to build the most valuable and powerful Staking and Liquidity Pool DApp in the world, while also making it simple for even complete beginners to get started. Providing unique properties to both experienced yield farmers and complete beginners will result in a symbiotic relationship in which both parties benefit from one another, resulting in the creation of a wholly unique platform and community.
While Weave tends to focus on more experienced users, it also provides high-yield investment opportunities to even complete beginners through a decentralized copy farming mechanism that securely grants users access to high-yield farmers while also allowing them to manage the allocation of funds within their private wallet.
- Easy To Use
- Yields in excess of 100% APR Can Be achieved
- 100% Customizable Farming
- Very secure (their dapp creates smart contracts rather than shared pools or vaults)
- Currently low TVL
- $Weave token required to unlock full platform features
They are establishing a community that will welcome both experienced yield farmers and complete newcomers to the industry in the same spot. Those who are experienced in yield farming will discover some of the most profitable yield farming opportunities available anywhere, with the potential to earn much more by sharing their strategies with others who are just starting out. With just a few clicks of the mouse, beginners will be able to earn their first-ever rewards from yield farming by copying the strategies of experienced users.
Weave “Passive” includes a “Copy Farming” feature that is extremely simple to use and is ideal for absolute beginners or those who simply want to profit from DeFi without having to build and manage their strategies. Simply identify the Pro Users whose strategies you admire and copy them into your Wallet to get started. Whatever your level of experience, we will walk you through the entire process and have you earning yield in no time!
AQRU is owned by Accru Finance Ltd, a financial services company based in London. The platform provides a user-friendly method for those who purchase cryptocurrency to earn a return on their investments. This functions in a similar fashion to traditional bank deposits – hence the phrase “crypto savings account.”
The AQRU crypto lending platform has been conceived and built by a team of experienced investment, payment, and technology professionals to give a straightforward approach to generating a return on cryptocurrency holdings. Now, AQRU supports both stablecoins and non-stablecoins — more precisely, BTC, ETH, USDT, USDC, and DAI.
AQRU aims to give investors a simple and accessible way to store and profit from their cryptocurrency holdings and investments. The platform will pay interest rates ranging from 7 percent to 12 percent for the simple service of acting as a custodian for your digital assets. Furthermore, AQRU is a user-friendly website that removes any needless financial and crypto terminology from the equation, and it is possible to track revenues in real-time using the platform.
Given that it will be launched in December 2021, it will have a lot on its plate, just like it will have a great deal to prove against its competitors in the market. However, it differs from most of its competitors due to its platform-based idea. It says that thanks to the experience and understanding of the team behind it, it would provide the greatest possible user experience while also providing the best possible return on exchanges based on decentralized financial markets (DFMs) (DeFi). The final product will be an open ecosystem that will be accessible to anyone.
The user interface of AQRU is simple, making it appealing to both new and experienced investors. Both the web-based platform and the mobile application, according to our research and testing for this AQRU review, were extremely user-friendly. Immediately upon logging in to the web platform, you will be able to see your total balance, as well as your total earnings as well as your earnings each day. It’s also simple to start earning money since all you must do is click on ‘Buy’ and select from a variety of USD Stablecoins, Ethereum, or Bitcoin to get started. In only a few clicks, you’ll be able to begin producing interest payments on your investments, which will be computed daily for your convenience. Alternatively, if you require any assistance at all, there is a convenient live chat function where you may ask questions, with response times averaging less than 10 minutes on average.
AQRU incorporates several useful features that are intended to make the yield-generation process as simple as possible for users. Let’s take a closer look at some of the most important features in greater depth:
As previously stated, the interest rates offered by AQRU are significantly higher than the interest rates offered by typical savings accounts. As reported by The Guardian, interest rates on personal accounts are continuing to decline, with the average rate offered by rapid access accounts being less than 0.2 percent! This comparison demonstrates how attractive AQRU’s yields are, as well as how they can assist you in growing your assets over time.
Many cryptocurrency savings accounts force customers to ‘lock up’ their crypto holdings for a defined amount of time, which means they are unable to withdraw their funds during that time (or are heavily penalized if they do). In the case of AQRU, there is no lock-up arrangement in place, which means that investors can withdraw their funds at any moment. This is particularly advantageous when the cryptocurrency market is volatile or when the investor requires the cryptocurrency for other purposes.
In addition, because of AQRU’s relationship with Fireblocks, its customer holdings are completely safe. In addition, according to the Fireblocks website, the software is trusted by more than 800 organizations around the world and has so far protected the transfer of more than $2 trillion in digital assets. Furthermore, Fireblocks uses a unique technology in conjunction with next-generation protocols to ensure that cryptocurrency holdings are kept at the highest level of security possible.
Discovering a cryptocurrency exchange platform that is regulated by top-tier financial regulators can be difficult in today’s world of cryptocurrencies. This is an extremely important safety net, and eToro is one of the few that provides it.
Importantly, eToro is a top-rated broker that is regulated by the SEC, the FCA, the ASIC, and the CySEC. While eToro allows you to purchase and sell digital assets with ease, it does not offer conventional yield farming services, according to the company.
The platform, on the other hand, provides automated staking capabilities that allow you to earn passive income on your cryptocurrency assets.
Staking services are offered for Cardano, Tron, and Ethereum on eToro, and you will receive a payment of 75% of the monthly staking income because of your participation. By joining eToro’s loyalty program, you may save up to 95 percent on your trading fees. All your returns are computed automatically and are deposited into your account every month.
Because there are no set lock-in periods associated with the staking program, you also can drop out whenever you want. In this way, eToro, in contrast to most of the staking sites, allows you to access your digital assets whenever you want.
We also appreciate eToro because it provides safe and low-cost brokerage services, which is important when it comes to yield farming.
Beginners can use the demo account to experience investing in cryptocurrencies using paper money, which is ideal for learning the ropes. Not only that, but it also provides free wallet services, so you won’t have to worry about where you’ll store your digital assets when you’re done with them.
With eToro, you may begin acquiring any of the more than 40 supported tokens for as little as $10. If you wish to diversify your cryptocurrency portfolio, the platform also offers Copy Trading and Smart Portfolio services.
- Heavily regulated
- No lock-in periods
- Low-cost brokerage services
- In-built wallet
- Might not suit advanced crypto investors
This is made possible using its automatic staking mechanism, which has no lock-up period. As a result of Coinbase’s recent entry into the cryptocurrency yield industry, the platform now offers only six different currencies. Cosmos (5 percent), Tezos (4.63 percent), Ethereum (4.5 percent), and Algorand (0.5 percent) are among the coins represented (4 percent). Dai (2 percent) and USDC are examples of stablecoins (0.15 percent). Although Coinbase is an excellent choice for beginners, the annual percentage yields (APYs) on offer are significantly less competitive when compared to other platforms.
Coinbase, one of the most effective yield farming sites, allows customers to choose which DeFi protocol to employ to earn income. Bitcoin (ETH), Ethereum (ATOM), Algo (DAI), Dollar (USDC), and XTZ are the cryptocurrencies that are supported and eligible for interest earning. ATOM has the greatest annual percentage yield (APY), at 5 percent.
The teaching tools offered on Coinbase, which makes it one of the top platforms for yield farming novices, are maybe the most valuable aspect of the platform. It is not only possible to complete comprehensive courses on how to earn and yield farm from cryptocurrency but completing some of these resources may also allow you to obtain free cryptocurrencies.
- Beginner-friendly platform
- Several popular coins available for yield
- User-friendly mobile app available
- Easy to deposit and access profile
- A limited number of yieldable crypto
- Below average returns
If you’re ready to stake a significant amount of their native tokens, Crypto.com has the potential to be one of the best yield farming platforms with high stablecoin annual percentage yields.
Aside from offering a high annual percentage yield (APY), Crypto.com distinguishes itself from the competition by offering a variety of earning opportunities. Additionally, Crypto.com offers three different holding plans to go along with the approximately 50 cryptocurrencies that are accessible for yield farming use. Flexible holding periods, 1-month fixed term, and 3-month fixed term are the options available for these holding terms.
As a result, depending on how much Crypto.com Coin (CRO) you stake, the holding term you choose, and whatever cryptocurrency you use to yield farm, the annual percentage yield (APY) will differ. Take, for instance, earning the maximum amount possible on USDT, which is 14 percent annualized return on investment (APY), which requires staking $40,000 worth of CRO and using a 3-month fixed holding period.
Crypto.com’s wallet app, on the other hand, is one of the most effective DeFi yield farming systems on the market. There are over 35 tokens available for purchase here, all of which have no lock-up periods and provide reasonable returns.
A separate DeFi platform is available on Crypto.com, which allows you to earn interest on your digital assets directly from your wallet. This is delivered in the form of an app that may be downloaded to your mobile device.
At the time of writing, this service is available for more than 35 different coins, including Yearn Earn V2, Compound, Aave, and Cosmos, among others.
If you invest in the network’s native token, CRO, you can earn as much as 16.02 percent each year in returns. This will be directly added to your wallet and will not be subject to any lock-up period restrictions or limitations.
Additionally, Crypto.com provides trading and exchange facilities, as well as cryptocurrency-backed debit cards, in addition, to yield farming services.
- Supports over 40 cryptocurrencies for earning
- 14% annual returns on staking stablecoin on the platform
- Earn rewards from staking CRO
- DeFi wallet available for DeFi yield farming
- Fees are competitive, transparent, and offer discounts
- Lower returns per annum without staking CRO
- Difficult to navigate trading fee discounts
BlockFi is a cryptocurrency platform that is easy to use, and it has its cryptocurrency wallet and cryptocurrency exchange. You can receive an annual percentage yield of 8% on stablecoins such as USDT, DAI, and USDC when you use BlockFi.
For the time being, BlockFi’s yield farming product, known as the BlockFi Interest Account (BIA), is not available to customers in the United States. Because BIA has not been registered under the Securities Act of 1933, the product is currently unavailable in the United States. Users of BlockFi wallets, on the other hand, may still link their BlockFi wallets to other high-interest cryptocurrency savings accounts.
Depending on whether rules have been clarified, BlockFi could be one of the most effective venues for yield farming, owing to the large maximum limitations for cryptocurrency earning. For example, consumers can expect an annual percentage yield (APY) of 8 percent on their first 20,000 USDT in their account. From there, the remaining stablecoins up to a total of 10,000,000 USDT will earn an annual percentage yield of 7 percent.
Even though BlockFi isn’t strictly speaking one of the leveraged yield farming platforms, it does allow users to loan up to 50% of the value of their cryptocurrency.
- Allows for monthly compounding on earning positions
- Over 14 stablecoins and other cryptos are available for earning
- Higher upper limits for crypto interest tiers
- Rewards credit card and investment products are available
- Mobile app available
- No 24/7 live support
- Available only for non-US clients
Gemini is a well-established cryptocurrency platform that provides traders and investors with a wide range of financial services. Not only can you buy, sell, and store your digital assets with this service, but you can also deposit payments using a credit card to complete the transaction.
To yield farm crypto through Gemini, you simply transfer your tokens from your trading account to the interest account of the cryptocurrency exchange. The returns will be credited to your account daily unless otherwise specified.
With Gemini Earn, you may earn up to an 8.05 percent annual percentage yield on your cryptocurrency investments. Over 40 digital assets, including many DeFi and stablecoins, are supported through yield farming, including bitcoin and Ethereum.
The Gemini Dollar, which is Gemini’s native token, earns the highest annual percentage yield (APY) of 8.05 percent. This is followed by a 7.99 percent yield on the USDC and USDT, respectively. However, a handful of prominent crypto assets, such as Chainlink and Zcash, will only provide you with an annual percentage yield of 0.50 percent.
Because it allows you to redeem and move your assets back into your trading account at any moment, we consider Gemini to be one of the top yield farming cryptocurrency platforms.
You are not required to satisfy any minimum deposit or withdrawal requirements, and there are no transfer or redemption fees associated with your account.
A comprehensive risk management approach was used to examine each of the third-party lenders with which Gemini entered a partnership with them.
Furthermore, before lending out your assets, Gemini will collect collateral from you as well. The zodiac sign of Gemini also takes precautions to safeguard the security of your funds by storing digital assets in an airtight cold storage system. Those who keep their money in the hot wallet for making transactions are likewise protected.
Furthermore, Gemini is a regulated entity in the United States.
- Supports 40+ cryptocurrencies
- No yield farming fees and no lock-in periods
- Interest offered on some coins is relatively low
- High trading fees for buying digital assets through the Gemini exchange
You can earn yields on your digital assets in a variety of ways thanks to the work that Binance has put into developing a full-fledged crypto ecosystem that offers a myriad of services, including a variety of various ways to earn yields on your digital assets. You have the option of opening a cryptocurrency savings account, depositing your funds for staking, or investing in a liquidity pool.
As you might expect, the amount you receive will be determined by the token you choose, the length of the lock-in period, and the current state of the market.
Consider the following scenario: you wish to gain a profit on the Axie Infinity (AXS) tokens that you now possess. If you choose a fixed staking account, you will earn an annual percentage yield (APY) of 104.62 percent for the first 90 days.
If you opt for a savings account instead, the benefits are lowered to 50% for 15 days, after which the rewards are no longer valid. Your earnings will be reduced even more to 20% if you use a flexible savings strategy.
Another option is to put your money into a liquidity pool. At the time of writing, Binance is offering a return of 14.88 percent on the AXS/USDT pair, which includes fees and commissions.
If you choose a fewer liquid pair, such as ALPINE/USDT, the yield will be higher as well, currently standing at 222.93 percent at the time of writing this article.
According to the information provided, Binance has a variety of investment possibilities available to you, but it frequently requires a trained eye to determine the best combination of risks and returns.
Furthermore, Binance distinguishes itself as one of the top yield farming cryptocurrency platforms since it offers over 60 different digital currencies.
Also available on Binance is the option of exchanging your tokens for cryptocurrencies that yield larger profits, as well as the option of purchasing digital assets directly with fiat money.
I’m Jon, owner of Trade Wise at https://tradewise.community/ and https://www.youtube.com/channel/UC7VmOx8DbvX4Rbrac2pPcjw
I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader.