Best coin to farm right now

[Tellek Garing]

In the past couple of years back we are not familiar with the term cryptocurrency farming not until the development of defi projects that see to the introduction of yield farming and since then many investors have dived in just to make some good profits from this new invention.
But to choose the right coin to farm is another vital aspect of it, so am kind of thinking to go into farming but my concussion is in choosing the coin to farm at the moment that will guarantee speedy profits.

[JeffBrad12]

But to choose the right coin to farm is another vital aspect of it, so am kind of thinking to go into farming but my concussion is in choosing the coin to farm at the moment that will guarantee speedy profits.

You can farm cake and why? The price was quite stable and this can also be farmed used so many pairs and there are also stable tokens pair on its farm. The liquidity was also big enough and that will give a guarantee to liquidate your farmed cake to the market easily. If you wanna get a big profit in a short time but with the big risk and then you can go to the pair that will give you very big APY but remember that the risk was so high consider you may face impermanent lose as well but it will be getting replaced with cake. You can try to use some new coins that offer very big APY and you can earn huge profit in a short term by farming it. The only problem is how can you deal with the volatility of your token? i meant there are two tokens that are used as pairs to farm it. 1 new token and 1 legit coin like BNB and the only problem is the price of new tokens is really volatile.

[flip4flop]

I have been going into the double rewards farms on Trader Joe and just building positions on projects that I like along with getting the added bonus of JOE. The two I am focused on right now is IME for the P2E game that is backed by 3AC and many others as well as CLY since they provide funding and access to so many other Avalanche projects. Every week or two I will harvest the gains from CLY and add it to my stake on CLY to increase the number of tokens I get per airdrop.

[ultrloa]

These new NFT almost everywhere is probably just like the same as the other since they were being hype up when in it's quite popular but people like you who always aim a very quick profit in a short span of time will eventually destroy the market price. Fortunately, some NFT owner knows how to avoid the surge of players who just want to gain profit in a short period of time and make a daily limit of withdrawal.

Most NFT nowadays would end up dropping their price as the investors only invest when it's convenient and then drop if the price starts to pump.

[livingfree]

There's less than 2 months for the Axie Infinity's new token would come. Farming ron token is risky because there's impermanent loss for your wrapped ethereum and AXS/SLP as you put it in farm.

But I'm just hoping the positive result of it when it launches by February of 2022. They've been generous for their value when they've rewarded early ronin wallet users with bunch of AXS and hopefully they do the same for the value of their ron token.

[Tellek Garing]

There's less than 2 months for the Axie Infinity's new token would come. Farming ron token is risky because there's impermanent loss for your wrapped ethereum and AXS/SLP as you put it in farm.

But I'm just hoping the positive result of it when it launches by February of 2022. They've been generous for their value when they've rewarded early ronin wallet users with bunch of AXS and hopefully they do the same for the value of their ron token.

Infinity coin is one of the most hyped projects of 2021 but whatever the outcome of the launch in February is that will determine the faith of its investors.
Am becoming more interested in farming rewards that will be paid in ethereum rather than the farmed coin because the future of those coins is uncertain and one will not predict so to be in the best position I will rather have my farmed reward in a more stable coin such as ethereum.

[livingfree]

There's less than 2 months for the Axie Infinity's new token would come. Farming ron token is risky because there's impermanent loss for your wrapped ethereum and AXS/SLP as you put it in farm.

But I'm just hoping the positive result of it when it launches by February of 2022. They've been generous for their value when they've rewarded early ronin wallet users with bunch of AXS and hopefully they do the same for the value of their ron token.

Infinity coin is one of the most hyped projects of 2021 but whatever the outcome of the launch in February is that will determine the faith of its investors.
Am becoming more interested in farming rewards that will be paid in ethereum rather than the farmed coin because the future of those coins is uncertain and one will not predict so to be in the best position I will rather have my farmed reward in a more stable coin such as ethereum.

Well, don't get it wrong.

There are other coins that are named 'infinity' and they're different from Axie Infinity Shard(AXS).

Talking about Axie, yes their token is one that took the hype by 2021. And by 2022, they're also releasing another token and I'm farming it hoping that it would give some decent rewards just as what they did with axs.

[Skinny48]

Find new gaming tokens to farm or new metaverse projects to farm just make sure the project have real doxxed team and that they are professionals, this days new projects are coming up to join metaverse and p2E games just to make quick money it's why one needs to be careful

[zasad@]

In the past couple of years back we are not familiar with the term cryptocurrency farming not until the development of defi projects that see to the introduction of yield farming and since then many investors have dived in just to make some good profits from this new invention.
But to choose the right coin to farm is another vital aspect of it, so am kind of thinking to go into farming but my concussion is in choosing the coin to farm at the moment that will guarantee speedy profits.

The desire to make quick profits leads to quick ruin.
If you want to get a small profit but safe, then you can study Uniswap or 1 inch and invest in the USDT /USDS /DAI stablecoin pools, but this method will not give 100% investment security either.
And under the reassurance of the bullish market cycle, I would not invest in shitcoins.

[fadil46]

Find new gaming tokens to farm or new metaverse projects to farm just make sure the project have real doxxed team and that they are professionals, this days new projects are coming up to join metaverse and p2E games just to make quick money it's why one needs to be careful

Why do you say "careful" ? what you suggest is not necessarily good for everyone ? if so, why would you suggest this game to others when you yourself are still very doubtful about it.
Give a good reason for this.

[Taskford]

If you are actively investing in Axie Infinity, I believe it is worthwhile to farm RON token.

Currently, the axie ecosystem does not require their users to pay transaction fees; however, the Sky Mavis team is planning to require RON very soon, which I believe will be used to reward people who create NODES into the network as well as to support the network's security. One important thing to note here is that the Ronin network exceeds the volume of transaction in the Ethereum chain^[1] -- and that is green flag for me.

And, as far as I know, the developer team aims to invite other NFT games on their sidechain to use RON not only on the axie ecosystem but also in other games' transactions, similar to how BNB works on the BSC network. I could be wrong, but that's what the community and content creators are saying.

Unfortunately, the value of RON token is still unknown to everyone and the update regarding the token is still yet to be announced. The only thing you can do today is to maximize the remaining days in farming RON^[2] on their Katana website.

[1] https://axie.substack.com/p/dec2021
[2] https://axie-infinity.gitbook.io/katana-docs/

[Jackl87]

In the past couple of years back we are not familiar with the term cryptocurrency farming not until the development of defi projects that see to the introduction of yield farming and since then many investors have dived in just to make some good profits from this new invention.
But to choose the right coin to farm is another vital aspect of it, so am kind of thinking to go into farming but my concussion is in choosing the coin to farm at the moment that will guarantee speedy profits.

Regarding yield farming and/or staking of your crypto assets there are almost endless possibilities now. So you have to choose for yourself want you want to do or how much risk you are willing to take. You can go for staking BTC or stable coins (here i would probably go for staking USDC and not USDT because you can never know what happens to USDT) but in most cases you will only get relatively low APY here of around 3 to 5%. If you stake smaller cap coins or just altcoins in generall then you can achieve APY's of 50% or even waaaaay more but there i would be cautious because such high APYs are usually not sustainable because the sell pressure becomes to high.

[pealr12]

It is hard to keep up with the various farming platforms we have lately and their apy but to me I like farming projects with standard and quality, or projects whos future is bright, lately I come across tns - ust liquidity pool farming with 287.37% Apr, we all know tns was recently airdrop to all users who have been actively used the terra name service platform,  so I assuming tns can worth something in future and farming it now won't be such a bad idea,
As I said, there are many farming platforms with different offers but am only familiar with a few.

[FloridaKid]

If farming reward is too high just make sure you know what you are doing, there is chances of getting rekt along the way but the first thing to watch out for is how good the project is and what's coming for the project through roadmap, farming is dangerous if APY is too high you've been warned

[oemar bakrie]

quick profits are only based on luck, because not everyone knows coins that can get a lot of profit, but everything can be learned in new markets, and there will definitely be exceptions if we start routinely transacting in them, like there is a..certain coin rewards if we have or often transact on the coin..maybe my understanding is like that..

[Tellek Garing]

quick profits are only based on luck, because not everyone knows coins that can get a lot of profit, but everything can be learned in new markets, and there will definitely be exceptions if we start routinely transacting in them like there is a..certain coin rewards if we have or often transact o
n the coin..maybe my understanding is like that.

Your statement is not far from what farming is all about because in yield farming you provide liquidity for the coin to support its transaction and also prevents the value of the farmed coin from dropping, but the major challenge is in choosing the coin to farm because is you farm the wrong coin all your efforts may be in futility as the project may die in the future so you need to carefully choose the coin you will want to risk on.

[livingfree]

snip

How many ron/wron you currently have been farming? I don't have that much but I'm happy that I've got it already and hopefully its value will blow just as AXS.

Since slp is not really an investment but just a utility and reward to them. AXS and RON will be the biggest governance token that they have. It's no longer just about axie but they're really making their own network from it which could really make the value up IMO and I'm just putting my faith on it.

[Jaered]

I usually stay away from DeFi farming. That's an easy way to lose a ton of money. Which has been my case, time after time. You farm a token or LP token and by the time you get your dividend or payout, the worth has dropped or dumped way too low to consider it a profit. All this would be also irrelevant if the project doesn't rugpull or exit scam

[Taskford]

snip

How many ron/wron you currently have been farming? (snip..)

Currently, I have a position in the Liquidity pool for the WETH-SLP pair worth around $400 USD, and I am averaging, I believe, 1 RON every two days. Now, I think the total WRON being farmed is around 15WRON as of this writing, but I feel inclined to top-up the position once more to maximize the remaining days until February 2nd.

I also set the groundwork in staking AXS to generate at least 0.5 AXS per day, which I believe is achievable.

[alisonwonder]

If farming reward is too high just make sure you know what you are doing, there is chances of getting rekt along the way but the first thing to watch out for is how good the project is and what's coming for the project through roadmap, farming is dangerous if APY is too high you've been warned

It's true as you said but as long as the coin is still very good, it doesn't hurt to continue farming with it even though most of the good coins don't give too much reward when farming is activated by the team or the exchange.