Post
Topic
Board Altcoin Discussion
Re: Yield farming or staking?
by
babygun
on 19/04/2022, 01:08:06 UTC

It is essentially the same thing. The only difference is that Yield farming involves different movements of funds to maximize profits. All this requires certain skills and knowledge, in contrast to the same steaking, where you just give your funds and get a percentage of them. The good times for Yield farming were in 2020, when the DeFi hype was raging.

Personally, for now, it's much more efficient to be staking in proven pools, even the same DeFi protocols that have proven themselves since the DeFi hype of 2020. Yield farming is riskier and more costly in terms of interaction with smart contracts. Personally, I would recommend newbies to use staking and stay out of Yield farming until they have the necessary knowledge

I agree with you. If you want to set up yield farming, it takes various steps and even with the BSC network, the costs all add up quickly. I always tried to lowering the fees but than sometimes transactions got declined while you still need to pay for them. Tried the yield farming out in the past, it was a hype after all, but stopped doing it after a while. Staking is a lot easier and less worrisome.