Beefy Finance Tutorial – Comprehensive Guide Farming LP Crypto.com Defi Wallet with Beefy Finance #Finance

in this CashNews.co i’m going to walk you through the steps on how you go about using beefy Finance which you can find in the

href="https://cashnews.co/crypto" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Crypto.com d5 wall this is not investing advice always do your own research and know your risk before investing in text-decoration: none;">Crypto so what i’m going to do is go back to the home page of my smartphone and just to show you we’re going to open this up with the Crypto.com defy

wallet and then from the home page of the d5 wall we go down here towards the bottom and click on where it says d apps and this is going to give us a list of popular apps that we can find here in the none;">Crypto.com defy wall and you might be asking yourself why would i use beefy Finance instead of vvs

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance and you can use either of these they’re both fine options but the main difference here is vvs none;">Finance you have to manually harvest your rewards yourself and then you can decide what you do with those whether you want to put them right back into a Liquidity pool or maybe do something else with the rewards whereas beefy

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance is a more hands-off approach where it’s going to automatically take your rewards and put them right back in to the Liquidity pool so if you just kind of

want to set it in there and forget about it and then have that auto compounding then beefy Finance is a good option to go with and i also have tutorial CashNews.cos on how to

use vvs Finance if you’re interested in that as well as the chronos chimp club nfts if you’re interested in learning about those i’ll post links to those

CashNews.cos down in the description but getting into beefy Finance here clicking on that and it might look a little daunting at first when you’re scrolling through the

homepage of beefy Finance but basically what i recommend especially if you’re just getting started is finding something that uses vvs because it’s going to be

really simple to get those Liquidity pool tokens over in the vvs Finance app and then you can just use those over in beefy

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance and i’ll walk you through the steps on how that is accomplished but for me i’m going to be doing an example here of

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Crypto.com coin and i’m going to do a pairing with wrapped bitcoin so if i scroll down we find that we have this none;">Crypto.com coin with the bitcoin pairing and this is going to use vvs so i need to get Liquidity and i can get this over in the vvs Finance

application so i’m going to go back and then click on vvs Finance and then go down here and click where it says trade and right now i have a balance of about 1 500 cro

so about half of this is going to be kept in cro whereas the other half i’m going to put over into wrapped bitcoin and you don’t want to do a pure 50 50 split because you’re going to need to pay for gas fees so just for this example i’m going to leave about 40 cro left in my

balance so i’m gonna transfer about 750 cro over interrupt bitcoin so going down and finding the wrapped bitcoin and then i’m gonna do 750 cro and then i’m going to click swap and then confirm swap and then confirm and then close and then it should just take a little bit of time

for this transaction to go through and you can see that the transaction was accepted and now my cro balance has gone down by about 750 so now at this point we need to go up towards the top and click on where it says Liquidity and we’re going to add Liquidity

and then we need to select those two tokens so we have cro and we have wrapped bitcoin and we’re gonna do the max amount of bitcoin and that looks good so we’re gonna go down and click where it says supply and then confirm supply and then confirm again and then close and again

it’ll take just a little bit of time for this to go through all right so now we have those Liquidity pool tokens and we can see that if we just scroll to the bottom of this page and it says the lp tokens in your wallet and we can see the wrapped bitcoin cro and we’re

gonna use these over in beefy Finance so now going back and then clicking on beefy text-decoration: none;">Finance and then again we’re gonna go and find the Crypto.com coin and wrapped bitcoin pairing and we can see the

href="https://cashnews.co/crypto" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Crypto.com coin with the wrapped bitcoin pairing that uses vvs we now have Liquidity in here so if we just click on this box and then we go down and click where it says approve

and then confirm and then it’ll just take a little bit of time for that approval to go through and we can now deposit our balance so i’m going to be doing a hundred percent of my balance so i’m just going to click where it says deposit all and remember earlier when i said we

wanted to have some cro balance left over to pay for gas fees this is what i’m talking about the estimated network fee is around 5.3 cro so we have more than enough to cover this expense so then we click confirm and it says deposit success and now from our wallet it has moved over into our

deposited Liquidity pool and then we’re pretty much good to go at this point in time we can just leave this in here and it’s going to auto compound our rewards are going to go right back into this deposited amount and that is the main difference here or one of the main

differences between beefy Finance and vvs Finance

is those rewards are going to be auto deposited right back in so we don’t have to manually do that ourselves while if you are over in vvs Finance you would have to farm

to get your rewards and then you could decide what you wanted to do with those rewards yourself so both of those options have their pluses and minuses but i just wanted to walk through a step-by-step process on how you go about using beefy

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance and pointing out the main difference between it and vvs Finance so i hope this

CashNews.co was helpful i appreciate you guys stopping by consider subscribing to the youtube channel and i’ll catch you back here next time