Best coin to farm right now - page 2.

Tellek Garing

full member

Activity: 854

Merit: 130

Quote from: cryptoaddictchie on December 30, 2021, 07:35:32 AM

Quote from: Tellek Garing on December 28, 2021, 03:35:11 PM

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.

Go for Spiritswap. I am LPing on their boosted farm spirit-ftm pool. The rewards are juicy Spiritswap tokens. Now I am using my Spiritswap tokens to locked in on their inspirit pool which is time in locked the longer you lock it the more boosted for farming it will give you. Also there is a reward given to all those who locked their spirit into inspirit with spirit rewards weekly. I think this is the most passive and good farming I've seen in such a defi product.

Spiritswap is a highly viable coin to farm at the moment where another coin in the farming pool is paying a low percentage of their native coin. I was considering investing a large part of my capital on this coin in the coming year of 2022. But again Ape swap coin is also a good alternative and also a viable asset to farm it has a high LPG with weekly reward payment.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

People are sleeping on Axie and its current situation. I am sure that right now people see that SLP price is dropping, and it may drop even more so that is totally understandable. However what they are missing is that for something like as cheap as 300 dollars, you could build a meta team. This means if you could make about 150 SLP per day, which is not really that impossible (could make a lot more) you have a chance to make nearly 130 dollars a month.

I am not saying that you will buy a great meta team for 300, nor will make 130 dollars a month, all I am saying is there is a "chance". Of course do not forget about the fact that each extra 300 dollars you spend could be another scholar who could bring 50-60 dollars easily, probably even more. So, we are talking about a great return on investment. There are also other games and such on the roadmap which could make people earn more, and increase the prices of axies as well.

This could be bottom for it, or it could be going down even more, we do not know but I feel like it worths the risk. If I had money, I would definitely build a team right now.

Balmain

hero member

Activity: 2156

Merit: 685

When you say farm, I think you mean defi farming. There are hundreds of Defi projects, they all have pools and different annual apy rates are available. There is a problem in Defi projects, there are too many contract gaps and flashloan hacking can occur. That's why I don't look at a lot of new projects. Cake farm does not look bad even now, its annual apy is 68%. I never get involved with LP tokens anyway. It is best to take advantage of the farm by showing a single token as collateral.

justdimin

hero member

Activity: 3164

Merit: 675

www.Crypto.Games: Multiple coins, multiple games

Quote from: Tellek Garing on December 28, 2021, 03:35:11 PM

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.

I am just seeing significant number of people started showing interest on investing into any type of passive income generation based coins. But unfortunately, no such long lasting opportunity have been available in this crypto space. There might be some good yielding cryptocurencies will arrive but over the time it will turn scam and the people who invested will be left with only coins but no values for the holding coins. This has been happened in the crypto space for more than hundred times still people like you never learned any lessons from others' experience.

It can be defi or anything with fancy terms but you cannot create value out of nothing; speculative assets will fail over the time because no investor could remain without profit booking.

Questat

hero member

Activity: 2982

Merit: 610

Quote from: Tellek Garing on December 28, 2021, 03:35:11 PM

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.

You may take a look at this,
https://thevrsoldier.com/top-5-yield-farming-coins-to-watch-in-2022/

I can assure you about the speedy profits coz that is not the thing we are after, I guess but at least, we make a good profit out of them as it was possible. Well, actually, I didn't try it recently and I'm not sure if farming is still in a good position now unlike before. Because what I see is in big opposite but who knows if 2022 is a good year for farming.

Ten98

sr. member

Activity: 1008

Merit: 250

Quote from: Rocky993 on December 30, 2021, 07:30:42 AM

Among the projects that are currently coming up with MEtaverse and P2E Gaming are the ones on which the big companies have projects that will undoubtedly yield good results and it is important to invest only if those projects are well verified. And only by knowing how much is its market cap, all those successful projects will give more return than everyone's investment.

The others are also not so bad even though the amount of profit is different, and what is clear is that each benefit will always be valuable to everyone even though it is not the same because the journey of each project is not the same and very often different.

cryptoaddictchie

legendary

Activity: 2254

Merit: 1377

Fully Regulated Crypto Casino

Quote from: Tellek Garing on December 28, 2021, 03:35:11 PM

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.

Go for Spiritswap. I am LPing on their boosted farm spirit-ftm pool. The rewards are juicy Spiritswap tokens. Now I am using my Spiritswap tokens to locked in on their inspirit pool which is time in locked the longer you lock it the more boosted for farming it will give you. Also there is a reward given to all those who locked their spirit into inspirit with spirit rewards weekly. I think this is the most passive and good farming I've seen in such defi product.

Rocky993

copper member

Activity: 560

Merit: 1

Among the projects that are currently coming up with MEtaverse and P2E Gaming are the ones on which the big companies have projects that will undoubtedly yield good results and it is important to invest only if those projects are well verified. And only by knowing how much is its market cap, all those successful projects will give more return than everyone's investment.

Coin_trader

copper member

Activity: 2800

Merit: 1179

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

Quote from: Quantum907 on December 30, 2021, 12:56:42 AM

Of course, it is a new coin or token that dares to give APR of up to thousands of percent, if we are staking on a strong coin like MATIC then the APR is only about 22% and I think the best thing to get big profits is to invest in new coins or tokens that provide staking services.

And usually new coins or tokens that provide staking services with large APRs will not run in the long term, in contrast to coins like Matic which have no doubt about their potential even though the APR looks small in terms of Staking.

It's common that new token offers higher APR to attract token holder to farm using there token due to tough competition as you already stated when you brought up Matic. But it doesn't that the coin is not trusted or will not gonna success since they adjust the APY % base on the demand of the stakers so basically even if they have a thousand APY initially, It will still go down when the volume of token stakers surge in.

livingfree

hero member

Activity: 2884

Merit: 579

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Taskford on December 29, 2021, 09:52:28 PM

Quote from: livingfree on December 29, 2021, 03:08:52 PM

Quote from: Taskford on December 29, 2021, 06:45:19 AM

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.

Wow, that's nice.

I currently only have 2 ron at the moment and I don't know how to calculate the average that I'm getting daily.

I'm also planning to get into AXS staking soon but I'll wait until the farming of ron ends. I'll be going on it soon. 0.5 AXS is already a good amount per day if that's what you're planning. I'll set myself too with it soon. But do you have any estimation how much AXS you need to stake for you to earn 0.5 axs per day?

barbara44

hero member

Activity: 2534

Merit: 605

Quote from: Tellek Garing on December 28, 2021, 03:35:11 PM

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.

Yield farming? A new kind of alternate to POS after masternode scams? I am sure if you attempt to maximize your networth through any of these and I am sure you will bite the dust and no other result will be possible in 99.9% of cases. Yeah, you got only 0.1% chances to achieve as per what such farming yielding promises.

Quote from: Tellek Garing on December 28, 2021, 03:35:11 PM

to choose the right coin to farm is another vital aspect of it, so am kind of thinking to go into farming

Where there cannot be any right coin to be existing then how you could finish up your first step? This is why most investors do settle down with stranger's advice which never can be in your favor.

Quote from: Tellek Garing on December 28, 2021, 03:35:11 PM

my concussion is in choosing the coin to farm at the moment that will guarantee speedy profits.

I am not seeing it as "speedy" but as "greedy" which is the first target of all such scams in this altcoin space.

flip4flop

full member

Activity: 378

Merit: 135

If you are looking for a decent return without an insane amount of risk the second phase of Algorand's governance program opens up in a few days. You just have to sign up and leave them in your wallet. With the bonus it should yield around 20% if you continue to do it. You can find out more info below if interested.
https://algorand.foundation/governance

Quantum907

member

Activity: 644

Merit: 10

Quote from: Tellek Garing on December 28, 2021, 03:35:11 PM

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.

Of course, it is a new coin or token that dares to give APR of up to thousands of percent, if we are staking on a strong coin like MATIC then the APR is only about 22% and I think the best thing to get big profits is to invest in new coins or tokens that provide staking services.

alisonwonder

sr. member

Activity: 882

Merit: 251

Quote from: FloridaKid on December 29, 2021, 09:18:28 AM

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.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: livingfree on December 29, 2021, 03:08:52 PM

Quote from: Taskford on December 29, 2021, 06:45:19 AM

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.

Jaered

jr. member

Activity: 840

Merit: 4

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

livingfree

hero member

Activity: 2884

Merit: 579

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Taskford on December 29, 2021, 06:45:19 AM

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.

Tellek Garing

full member

Activity: 854

Merit: 130

Quote from: oemar bakrie on December 29, 2021, 01:03:21 PM

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.

oemar bakrie

full member

Activity: 1260

Merit: 100

SOL.BIOKRIPT.COM

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..

FloridaKid

member

Activity: 375

Merit: 15

$CYBERCASH METAVERSE

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

Topic: Best coin to farm right now - page 2. (Read 511 times)