How to buy Beefy token with credit card
Want to buy BIFI, but don't know how to get started? Follow these easy steps! All you need is an email address and a credit card.
Ondefy offers the fastest way to buy Beefy
Follow these steps to get started:
1. Enter Amount
2. Connect your email or wallet
3. Pay by credit card or bank transfer
What is Beefy?
$BIFI tokens are ‘dividend-eligible’ revenue shares in Beefy Finance, through which holders earn profits generated by Beefy Finance and are entitled to vote on important platform decisions.
Beefy Finance is a Decentralized Finance (DeFi) Yield Optimizer platform that allows its users to earn compound interest on their holdings.
DeFi applications are unique in the sense that they are permissionless and trustless, meaning that anyone with a supported wallet can interact with them without the need for a trusted middleman.
Through a set of investment strategies secured and enforced by smart contracts, Beefy Finance automatically maximizes the user rewards from various liquidity pools (LPs), automated market making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem.
For all the vaults deployed on every blockchain, Beefy Finance has its native governance token $BIFI at its core. Platform revenue is generated from a small percentage of all the vault profits and distributed back to those who stake $BIFI.
Beefy Finance is a supported partner of Binance’s official decentralized wallet, Trust Wallet, and audited by Certik to guarantee the robustness of deployed smart contracts. Certik has already provided audits for such projects as Ocean Protocol, NEO, Ontology, and Waves.
The supply of $BIFI is limited at 80,000 tokens and available on the top decentralized exchanges such as Binance, 1inchexchange and PancakeSwap.
What is $BIFI?
$BIFI is the native governance token of Beefy Finance. $BIFI Tokens can be staked on the Beefy platform to gain rewards and interest. A portion of the fees paid by anyone using Beefy’s yield optimization vaults are distributed to holders of $BIFI staked on the platform. Token holders also have a right to create and vote on proposals to the platform as part of its governance system. They can vote without un-staking their tokens.
What makes Beefy Finance unique?
There are lots of farms to choose from across several blockchains. Beefy automates and optimizes different investment strategies, allowing token holders to benefit from the upside of complex farming protocols. Users can request new vaults directly from Beefy’s developers and the time it takes to answer these requests is very low.
What are yield farming and yield optimization?
Yield farming is simply a way to make some interest with crypto holdings. A yield optimizer is an automated service that seeks to gain the maximum possible return on crypto-investments made through DeFi platforms. They work much more efficiently than attempting to maximize yield through manual means. Each yield optimization method on Beefy Finance has its own unique strategy for farming, which normally involves the reinvestment of crypto assets staked in liquidity pools. At the most simple level, it farms the rewards given from staked assets and reinvests them back into the liquidity pool for the user.
What are Beefy vaults?
Vaults are investment instruments that employ an optimized set of strategies for yield farming. They make use of automation to continually invest and reinvest deposited funds, which help to achieve high levels of compounded interest. Vaults are the core of the Beefy Finance ecosystem. In a Beefy vault, you earn more of the asset you stake, regardless of whether it’s a liquidity pool (LP) token or a single asset.
Despite what the name 'vault' suggests, user funds are never locked on Beefy.Finance. Users can withdraw from a vault at any moment in time and Beefy does not own the funds staked in its vaults.
What fees are incurred from using Beefy Finance?
The performance fees are already built into the displayed APY of each vault and daily rate. Most vaults available on Beefy Finance take 4.5% of harvest rewards.
The performance fee on users vault profits is largely distributed back to $BIFI stakers and is the main source of Beefy Finance's platform revenue: 3% is distributed back to $BIFI stakers, 0.5% is allocated to treasury, 0.5% to the strategist that developed the vault and 0.5% for the one calling the harvest function.
Each vault has either a deposit or withdrawal fee of 0.1% or less, which is there to protect bad actors from abusing the vaults. This is shared with all other stakers in that specific vault. Users should also consider network transaction fees when adding or removing funds. These fees do not go to Beefy, but to the operators keeping the blockchain network up and running.
How do I buy Beefy in 2023?
You can buy Beefy using credit card (Visa or MasterCard), bank transfer, Apple Pay or Google Pay. All you need to do is to choose a fiat currency, e.g. CHF, and enter an amount. A conversion rate is calculated for you. Once you are happy with the rate, tap the "Continue" button to get started. At this point, you will need to connect your email or wallet (if you are buying crypto for the first time, it will be easier for you to use your email, but Metamask and WalletConnect are also supported). Depending on wether Beefy is supported by our ramp provider, you may be invited to buy an intermediary token, that we will then swap to Beefy for you. In this case, you will first need to sign a permit in order to allow us to perform this swap on your behalf. Finally, you will be able to choose your payment method, and finalise your purchase. If this is your first time buying with Ondefy, you will need to complete a short KYC (Known Your Customer) verification.
Is it safe to buy Beefy?
Your payment processing is securely handled by our partner Transak, and your purchased Beefy tokens benefit from the security of the blockchain. Nevertheless, as an investor you must assume the risk of owning cryptocurrencies, due to their inherent price volatility.