Yearn.Finance offers a plethora of options to those involved in the crypto scene. However, is it a practical option for those who want to bet at crypto casino sites? After all, Yearn.Finance is more of a suite of tools rather than a dedicated crypto token.
Join us as we explore some of the casinos that do experiment with YFI tokens and as we explain how Yearn.Finance works today. Let’s get started.
Yearn.Finance isn’t a cryptocurrency, per se, at least not in any conventional way. Instead, it is a suite of decentralized products designed to help you with your digital assets. For instance, Yearn.Finance supports vaults where you deposit tokens to receive yield; it allows you to optimize any earnings you might have by lending and trading services on its platform.
Yearn.Finance runs on the Ethereum blockchain and does have its own dedicated token, though. Known as YFI, it is an Ethereum-based token that is primarily used to move funds about in the ecosystem to generate high returns. Despite not operating in quite the same manner as a typical cryptocurrency, there are a couple of places where you can deposit with YFI online.
Yearn.Finance is not one of the heavy hitters when it comes to cryptocurrencies used for online gambling. Despite this, we shouldn’t write off YFI tokens because they do still have the ability to be used to deposit at crypto casinos. Any so-called YFI casino or Yearn.Finance casino should at least give you the option of depositing with this option.
One of the things we should say about Yearn.Finance is that it isn’t well-suited for gambling on games. Sure, there are casinos out there that permit you to deposit with YFI, but the crypto token can’t be used to wager on games, or at least, we didn’t see any examples where YFI-supported games were available. Instead, gameplay will likely take place in another crypto, meaning your YFI deposit will be converted.
The advantages to playing with Yearn.Finance at crypto casinos is limited. Below you’ll find the primary reasons for doing so.
Yearn.Finance is particularly handy when it comes to getting a good return on your investments. This is predominantly for those who move money around using the crypto option. However, it has a steep learning curve and isn’t overly user-friendly.
We realize this isn’t much of a perk, but YFI can at least be used to deposit at some sites. However, we should stress that there are no real perks to using YFI at casinos that you won’t find with other cryptocurrencies.
The disadvantages of playing with Yearn.Finance is arguably more pronounced than the benefits, and we’ve highlighted the need-to-know information below for you.
Yearn.Finance and the YFI token are ideally placed to see you generate revenue when you move the token around. However, they aren’t specifically well structured for use as a standard cryptocurrency at online casinos.
At the same time as Yearn.Finance isn’t particularly well-placed to be used to deposit; it also isn’t ideal for the act of betting. There are precious few (if any) YFI-friendly online casino games out there at crypto betting sites.
Yearn.Finance casinos aren’t commonplace, but if you do come across one, we’d recommend that you check the following features:
If YFI is your bag, then either of these top Yearn.Finance casinos should fit the bill nicely:
If you’re committed to getting started with Yearn.Finance casinos, follow these short steps to begin:
Yearn.Finance has its perks, but those are mainly reserved for those who want to invest in the crypto option and use its full suite of tools to generate revenue. As a crypto token, it isn’t particularly going to blow you away or prove overly useful when it comes to gambling online.
Not at all. In fact, only a limited number of casinos currently accept Yearn.Finance deposits.
We’d have to say no. We didn’t see any casino games that were YFI-friendly.
Again, based on what we’ve seen, we’d have to say that the answer to this is, most likely, no.
Safety doesn’t seem to be an issue at Yearn-Finance, but there is a steep learning curve involved.
Fees of anything from 0.5% up to 5% can be expected when shifting YFI assets around using Yearn-Finance.