In this guide we’ll review the best yield farming crypto platforms including some lesser known new additions in 2022 that provide a high APY (annual percentage yield) for investors.
Best Yield Farming Crypto Platforms - Overview
DeFi Swap - Highest APY Yield Farming Platform
AQRU - Simple Daily Yield Payments
eToro - Most Regulated Crypto Platform open to the United States
Crypto.com - Up to 14.5% Annual Yield as Crypto Interest
Coinbase - Yield Farming in the US
Reviews of the Top Yield Farming Platforms
We’ll take a closer looks at how yield farming works on the above platforms:
DeFi Swap - Highest APY Yield Farming Platform
DeFi Swap went live in 2022 and is a new decentralized exchange (DEX) for crypto swaps without the need for a centralized exchange. It also functions as a yield farming platform as the project’s native token DeFi Coin (DEFC) can also be staked for a high APY of up to 75%.
To yield farm on DeFi Swap first buy DeFi Coin on either DeFi Swap itself or one of the exchanges it’s listed on - Bitmart and Pancakeswap. Then select ‘Farm’ on the Defiswap.io website and connect your wallet. On the screen that follows you’ll be able to choose a lock-up period to stake DeFi coin for, from 30 - 365 days.
Enter the DeFi Coin staking amount and click ‘Approve’. You’ll then receive your principal investment back after the lock-up period plus 75% annualized yield. Learn more about DeFi Coin and how to farm DeFi Coin at the Deficoins.io website. The site also covers the latest news in the decentralized finance industry.
The DeFi Coin price went on a 40x bull run in 2021 from its presale price of $0.10 to a current all time high of $4. DEFC is now trading around $0.3 - $0.5 after a retrace, presenting an opportunity to buy the dip. Notably it began a new uptrend at the same time as the rest of the crypto markets dipped in May 2022.
AQRU - Simple Daily Yield Payments
The AQRU crypto savings account was launched in December 2021 and while staking isn’t involved, still functions as a yield farming crypto platform in the sense you earn an APY.
How AQRU works is they operate as a crypto lending provider and loan out deposits - in the same way banks do with fractional reserve banking, ensuring everything is collateralized - enabling you to earn part of the interest rate on those crypto loans.
AQRU aims to simplify the yield farming process as much as possible - no lockup period is required, and compound interest is paid daily. They also focus on the main cryptos - Bitcoin, Ethereum and the major stablecoins like USD Coin (USDC).
eToro - Most Regulated Crypto Platform open to the United States
eToro began as a platform to invest in stocks, commodities, ETFs and trade forex in 2007 - which it still is today, alongside now being a crypto platform since shortly after the development of Bitcoin and other cryptos.
As well as listing BTC and ETH to buy it has over a dozen DeFi coins and its own bespoke DeFi portfolio which you can use to invest in DeFi, ranging from DeFi project native coins like Aave and Bancor to Compound, Kyber Network and Uniswap.
Crypto.com - Up to 14.5% Annual Yield as Crypto Interest
Crypto.com is a well-established crypto exchange and derivatives platform that also has a popular DeFi wallet and metal VISA card to pay with crypto in retail stores. Recently the value of their native token CRO dropped when they cut their debit card rewards program, so that’s now trading at a discount.
It’s also a yield farming platform for 50 cryptos, which wasn’t affected by the rewards structure changes. The ways to earn yield include an APY on Bitcoin, Ethereum, Dogecoin, stablecoins and more - their highest yield of 14.5% is available on Polkadot (DOT) and Polygon (MATIC).
Coinbase
Coinbase is the most popular crypto exchange in the United States (Binance is partially open via Binance US) and the largest worldwide in terms of registered users - in 2022 it hit a milestone of 89 million users.
As a yield farming crypto platform its APY is on the low side - up to 5.75% - but it’s also one of the most trusted names in the crypto industry, with industry-leading security. That APY also still far outperforms traditional savings accounts at high street banks, which in 2022 pay an average of 0.05% interest to savers.
Coinbase staking coins as of mid 2022 include:
2.6% APY on Cardano (first advertised as 3.75%)
0.15% APY on DAI stablecoin
4.63% APY on Tezos (XTZ)
5% APY on Cosmos (ATOM)
3.675% APY on Ethereum 2.0
5.75% APY on Algorand (ALGO)
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