FARM

Cryptocurrency Overview

Harvest Finance is a decentralized finance (DeFi) platform that automates yield farming. It helps users maximize returns by automatically moving their assets to the highest yielding opportunities available in the DeFi space.

FARM is the governance token of Harvest Finance. Holders can vote on proposals and receive fees from Harvest operations. The platform was launched in 2020 and has since become a key player in the DeFi ecosystem. However, it's important to note that Harvest Finance experienced a significant exploit in 2020, which resulted in a loss of funds and a drop in its total value locked (TVL).

Despite the setback, Harvest Finance continues to operate and adapt to the changing DeFi landscape.

Introduction to cryptocurrency exchanges

Harvest Finance (FARM) is available on several major exchanges, including:

Binance: Offers a wide range of trading pairs for FARM.

Coinbase Exchange: Provides a user-friendly platform for buying and selling FARM.

MEXC Global: Offers various trading options for FARM.

Kraken: Allows users to easily buy and trade FARM.

Mobile trading app for buying cryptocurrencies

You can buy Harvest Finance (FARM) on your mobile device using the following apps:

Binance App: Widely used and offers a large selection of cryptocurrencies, including FARM.

Coinbase App: User-friendly interface and a popular choice for beginners.

Crypto.com App: Features a variety of DeFi services and supports FARM trading.

KuCoin App: Offers a wide range of altcoins, including FARM.

Token address

Harvest Finance's primary token, FARM, exists on multiple blockchains, each with a distinct contract address:

Ethereum (ERC-20):

0xa0246c9032bc3a600820415ae600c6388619a14d

This is the original and most widely traded version of FARM.

Binance Smart Chain (BEP-20):

0x4b5c23cac08a567ecf0c1ffca8372a45a5d33743

This version is used for trading and interacting with DeFi protocols on the Binance Smart Chain.

Polygon (MATIC):

0xab0b2ddb9c7e440fac8e140a89c0dbcbf2d7bbff

This version is specifically for use on the Polygon network, known for its faster and cheaper transactions compared to Ethereum.

Base (BASE):

0xd08a2917653d4e460893203471f0000826fb4034

This version is used on the Base network, an Ethereum Layer 2 solution developed by Coinbase.

Token transfer

To transfer Harvest Finance (FARM) tokens, you'll need:

A compatible wallet: Most wallets supporting Ethereum or Binance Smart Chain tokens will work.

Recipient's address: The correct wallet address of the person you're sending FARM to.

Sufficient FARM and network fees: Ensure you have enough FARM and the necessary network fees (like ETH or BNB) to cover the transaction.

Cryptocurrency wallets

Harvest Finance (FARM) is compatible with several wallets, each with its own features and benefits:

Software Wallets:

MetaMask: A popular browser extension and mobile app that supports Ethereum and many EVM-compatible chains, including Binance Smart Chain and Polygon. Easy to use and widely supported by dApps.

Trust Wallet: A mobile wallet with a user-friendly interface, supporting a wide range of cryptocurrencies, including FARM on various networks.

Coinbase Wallet: A secure wallet by a reputable exchange, ideal for beginners and those who use Coinbase services.

Atomic Wallet: A desktop and mobile wallet supporting over 500 cryptocurrencies, including FARM on multiple networks. Offers built-in exchange and staking features.

Hardware Wallets:

Ledger Nano S/X: High-security hardware wallets that store your private keys offline, protecting your FARM from online threats. Supports FARM on Ethereum and other networks through compatible software wallets.

Trezor Model One/T: Similar to Ledger, these hardware wallets offer enhanced security for your FARM holdings by keeping them offline.

Earning free cryptocurrencies/airdrops

Harvest Finance offers several ways to earn cryptocurrency and potentially receive free tokens through airdrops:

1. Yield Farming:

Depositing Assets: The primary way to earn with Harvest Finance is by depositing your crypto assets into their vaults. The platform automatically moves your funds to the most profitable yield farming strategies available, earning you rewards in various tokens.

Staking FARM: You can also stake your FARM tokens to earn additional rewards and participate in platform governance.

2. Providing Liquidity:

Liquidity Pools: Providing liquidity to Harvest Finance's liquidity pools on decentralized exchanges (DEXs) like Uniswap or SushiSwap can earn you trading fees and potential rewards in FARM or other tokens.

3. Participating in Airdrops:

Past Airdrops: Harvest Finance has conducted airdrops in the past to reward early users and active community members. These airdrops typically involved distributing FARM tokens or other project tokens to eligible participants.

Future Airdrops: While there are no guaranteed future airdrops, staying active in the Harvest Finance community and participating in their initiatives could increase your chances of eligibility for potential future airdrops.

Cryptocurrency taxation

Taxation on Harvest Finance transactions can be complex and varies depending on your jurisdiction and specific circumstances. However, here are some general points to consider:

Income Tax:

Yield Farming and Staking Rewards: Profits from yield farming and staking FARM tokens are generally considered taxable income. The specific tax rate depends on your country's tax laws and your individual income bracket.

Token Swaps: Swapping FARM for other tokens may trigger a taxable event if you realize a gain. The gain is calculated based on the difference between the fair market value of the tokens at the time of the swap and your original acquisition cost.

Capital Gains Tax:

Selling FARM: If you sell your FARM tokens for a profit, you may be liable for capital gains tax. The tax rate depends on whether the gain is short-term (held for less than a year) or long-term (held for a year or more).

Loss Harvesting: If you sell FARM at a loss, you may be able to offset other capital gains or deduct the loss from your taxable income, subject to certain limitations.

Record Keeping:

Transaction History: It's crucial to keep detailed records of all your Harvest Finance transactions, including dates, amounts, and token values. This will help you accurately calculate your tax liability and avoid potential issues with tax authorities.

Cryptocurrency security

Harvest Finance's security has been a concern due to a significant exploit in 2020 where millions of dollars were lost. Since then, the platform has taken steps to improve its security measures, including audits by third-party firms and implementing bug bounty programs.

As with any DeFi protocol, there are inherent risks involved. Smart contract vulnerabilities and potential exploits remain a concern. It's crucial for users to do their own research and understand the risks before interacting with Harvest Finance.

Currency login

To access your Harvest Finance tokens, you'll need to connect your wallet to the platform. Here's how:

Choose a Compatible Wallet: Ensure you have a wallet that supports the network your FARM tokens are on (Ethereum, Binance Smart Chain, Polygon, etc.). Popular options include MetaMask, Trust Wallet, and Coinbase Wallet.

Visit the Harvest Finance Website: Go to the official Harvest Finance website (https://www.harvest.finance/).

Connect Your Wallet: Click on the “Connect Wallet” button and select your wallet provider. Follow the prompts to connect your wallet to the platform.

Access Your FARM: Once connected, you should see your FARM balance and be able to interact with the platform's features, such as depositing into vaults, staking, or withdrawing your tokens.

Supported Payment Methods for Purchasing

Harvest Finance (FARM) can be purchased on various exchanges using different payment methods, depending on the platform you choose:

1. Cryptocurrency Exchanges:

Crypto-to-Crypto Trading: Most exchanges allow you to trade other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) for FARM. This is often the most common method for those already holding cryptocurrencies.

2. Fiat-to-Crypto Exchanges:

Bank Transfer: Many exchanges accept bank transfers as a payment method for buying FARM. This typically involves linking your bank account to the exchange and initiating a transfer.

Credit/Debit Card: Some exchanges allow direct purchases of FARM using credit or debit cards. However, this option might come with higher fees compared to other methods.

Third-Party Payment Providers: Certain exchanges integrate with third-party payment providers like Simplex or Banxa, which offer additional payment options like Apple Pay or SEPA transfers.

3. Peer-to-Peer (P2P) Trading:

P2P Platforms: Platforms like Binance P2P or LocalBitcoins facilitate direct trading between users, allowing you to buy FARM from other individuals using various payment methods, including cash, bank transfers, or online payment services.

Online purchase of USD/USDT

To buy Harvest Finance (FARM) using USD or USDT, you can use the following platforms:

Binance: Offers direct purchase of FARM with USD via debit/credit card or bank transfer. You can also trade USDT for FARM on their exchange.

Coinbase: Allows buying FARM with USD using bank transfers or wire transfers.

Kraken: Supports buying FARM with USD or USDT through various funding methods.

Gate.io: Offers FARM/USDT trading pair and various deposit methods for USD/USDT.

Buying cryptocurrency with a bank credit card

Yes, you can buy Harvest Finance (FARM) using your bank credit card on several platforms:

Binance:

Binance allows direct purchases of FARM using Visa or Mastercard credit/debit cards. This is a convenient option for beginners or those who prefer using their cards for crypto purchases.

Note that Binance may have regional restrictions and fees associated with card purchases.

Crypto.com:

Crypto.com supports buying FARM and other cryptocurrencies with credit/debit cards. They offer a user-friendly app and various features like staking and earning rewards.

Be aware of potential fees and geographical limitations when using Crypto.com.

Changelly:

Changelly partners with providers like Banxa, MoonPay, and Indacoin to enable credit/debit card purchases of FARM. They offer competitive rates and a straightforward process.

Note that Changelly might have different fees depending on the provider and your location.

Purchasing at ATM machines

To purchase Harvest Finance cryptocurrency at an ATM, follow these steps:

Locate an ATM: Find a crypto-friendly ATM supporting Harvest Finance (FARM) tokens.

Identity Verification: Verify your identity if required. This may involve scanning an ID or entering a phone number.

Select Cryptocurrency: Choose “Harvest Finance” or “FARM” from the list of supported cryptocurrencies.

Deposit Cash: Insert the amount of cash you wish to exchange for FARM tokens.

Enter Wallet Address: Provide your Harvest Finance wallet address to receive the tokens. Ensure it's correct to avoid loss of funds.

Confirm Transaction: Review and confirm the transaction details.

Receive Tokens: After confirmation, the ATM will process your transaction and send FARM tokens to your wallet.

Buying with loans/financing

Harvest Finance itself doesn't directly offer borrowing or lending services for buying its native token, FARM. you can indirectly use borrowed funds to purchase FARM through other platforms:

Margin Trading on Exchanges: Some cryptocurrency exchanges like Binance and Kraken offer margin trading, allowing you to borrow funds to increase your buying power. Be cautious, as margin trading amplifies both potential gains and losses.

DeFi Lending Platforms: Platforms like Aave or Compound allow you to borrow cryptocurrencies using your existing holdings as collateral. You can then use the borrowed funds to buy FARM on a decentralized exchange (DEX).

About support for monthly payments of tokens

To buy Harvest Finance tokens on a monthly basis, follow these steps:

Choose a Platform: Select a crypto exchange supporting recurring buys of Harvest Finance (FARM) tokens.

Set Up an Account: Register and complete necessary identity verification.

Link Payment Method: Connect a bank account or credit card for automatic payments.

Create a Recurring Purchase: Specify the amount of FARM tokens to buy monthly and schedule the purchase.

Confirm Details: Review and confirm the recurring buy setup.