Q&A: How does “yield farming” work?

Notes from Chris

Episode 1640

There are new opportunities in the new economy. So many, in fact, that I’m starting to call it the new, new economy—especially in response to all of the stuff happening with NFTs and decentralized finance and markets in just about everything.

With that in mind, have you heard of yield farming? That’s what we’re talking about in this episode. A listener is wondering how it works and how to profit from it. I’ve done some research … I went deep into the fields and drove a tractor … and I think it’s really interesting!

"I've heard that some cryptocurrencies are offering 60-80% annual interest, not including whatever growth they experience. The people who earn this interest are called yield farmers ... and I never thought I’d want to be a farmer, but it sounds intriguing. Is there a good place to learn about how it works? I missed out on Bitcoin mining back in the day, and now I'm keeping an eye out for opportunities. I need something that's easy and doesn't take a lot of money, which is why I listen to Side Hustle School."

Listen to today's episode to learn more...

 

 

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SEE ALSO:

• Q&A: Can I get paid in Bitcoin without converting to dollars?: PayPal allows you to accept cryptocurrency payments, but then converts those payments into fiat currency (like dollars or pounds). Is there a way to take payments with no conversion?
• Q&A: How to set up cryptocurrency charity pledges?: A listener wants to create “Kickstarter for crypto.” Is this a side hustle, a billion dollar idea, or a pipe dream?
• Q&A: Should I accept Bitcoin as a payment method?: Today’s listener is wondering about Bitcoin, the world’s best known cryptocurrency—should he accept it as payment for his new app?

Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,