1640
6 min 5 sec

Q&A: How does “yield farming” work?

Did you know you can earn interest (sometimes at very high rates) for “staking” digital currencies? It’s a wild world …. this episode explains how it works.
Q&A

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What It's About

Today's listener seeks farming advice ... sort of.

Notes from Chris

Episode 1640
There are new opportunities in the new economy. So many, in fact, that I’m starting to call it the new, new economy—especially in response to all of the stuff happening with NFTs and decentralized finance and markets in just about everything.

With that in mind, have you heard of yield farming? That’s what we’re talking about in this episode. A listener is wondering how it works and how to profit from it. I’ve done some research … I went deep into the fields and drove a tractor … and I think it’s really interesting!

"I've heard that some cryptocurrencies are offering 60-80% annual interest, not including whatever growth they experience. The people who earn this interest are called yield farmers ... and I never thought I’d want to be a farmer, but it sounds intriguing. Is there a good place to learn about how it works? I missed out on Bitcoin mining back in the day, and now I'm keeping an eye out for opportunities. I need something that's easy and doesn't take a lot of money, which is why I listen to Side Hustle School."

Listen to today's episode to learn more...

 
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Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,

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To infinity and beyond,

Chris Guillebeau