10+ Best Yield Farming Crypto Platforms to Invest in 2024

If you are in the market for increased returns on crypto investments, yield farming may be of interest to you. Yield farming is a crypto approach that uses decentralized finance (DeFi) protocols to earn higher returns on your crypto assets.

This article will cover the best yield farming crypto platforms for 2024, as well as finer details of how crypto yield farming works, including the best strategy for yielding.

The Best Yield Farming Platforms Ranked

  1. Bitcoin ETF Token – The $BTCETF token can be staked to earn high APYs, and will burn 25% of its supply in the long term.
  2. Bitcoin Minetrix New yield generation platform with an inventive ‘stake-to-mine’ concept with huge APYs and over 10 million USDT raised.
  3. Meme Kombat – This new meme crypto can generate annual yields as high as 107%. Offers staked $MK tokens through an AI-driven battle arena.
  4. Wall Street Memes Highly successful meme crypto platform with double-digit PoS staking yields, now listed on exchanges.
  5. SushiSwapDecentralized exchange offering yield farming on 350+ tokens and 1.29% APY.
  6. OKX – Large crypto exchange with no KYC requirement. Yield farming available for multiple blockchains, low-cap altcoins, and stablecoins.
  7. UniswapLargest decentralized exchange on Ethereum offering high liquidity for yield farming pairs. Price reached an all-time high (ATH) of $44.97.
  8. PancakeSwapBinance Smart Chain-based exchange with high yields for BNB and BUSD, as well as higher yields for pairs with native CAKE tokens.
  9. AAVESupports yield farming across Ethereum, Polygon, Avalanche, Optimism, and Arbitrum networks. Also enables crypto staking.
  10. Yearn.financeAll-in-one DeFi platform with yield farming based on Curve protocol. Offers high-yield pairs with Ethereum.
  11. BinanceWorld’s largest crypto exchange offering high liquidity for yield farming, as well as crypto staking.
  12. HuobiOffers dual investment pools offering all-or-nothing yields similar to options. All dual investment pools include USDT.
  13. CropperFinanceSolana-based yield farming platform. Offers very high yields for emerging tokens on the Solana blockchain.

Top Yield Farming Crypto Platforms Reviewed

1. Bitcoin ETF Token – Best New Yield Staking Cryptocurrency With Initial Market Cap Of Over $12 Million

Bitcoin ETF Token’s $BTCETF token can be staked on a verified Ethereum smart contract to generate huge APYs.

Currently, investors can directly buy $BTCETF on their website and instantly stake their holdings. Your staking yields will depend on the total number of staked tokens and the percentage of the annual return. 

bitcoin etf homepage

So far, there are more than 564 million tokens totally staked, of which 25% will be burned over time. Bitcoin ETF Token will also distribute staking rewards after each successful milestone. Bitcoin ETF Token has a total supply of 2.1 billion – which will reduce to 1.575 billion. Additionally, 25% of the token supply has been set aside for staking rewards. 

At the time of writing, $BTCETF is priced at $0.001685. Read the Bitcoin ETF Token whitepaper and join the Telegram or X channel for more information on this project.

What We Like

  • More than $1 million daily trading volume
  • Will burn 25% of its token supply in the long-term
  • Allocating 40% of its token supply for presale investors
  • Already raised over $120K in a few days of the presale

2. Bitcoin Minetrix – Stake-to-Mine Platform Providing High APYs and Accessible BTC Cloud Mining

Our next best yield farming crypto on the list is Bitcoin Minetrix ($BTCMTX). This token is not a yield farm in the technical sense of the word. Instead, Bitcoin Minetrix offers a new way to mine Bitcoin through an eco-friendly Ethereum framework, which is more beneficial than traditional Bitcoin mining.

The upfront cost of Bitcoin Minetrix is only $10. This is because the platform provides a stake-to-mine ecosystem whereby users stake their $BTCMTX tokens in return for Bitcoin cloud mining credits. These credits are then burned in exchange for BTC. Essentially, the more cloud credits that are burned, the bigger the BTC rewards. 

bitcoin minetrix staking

All this is achieved through a unified dashboard, which is accessible to everybody at the click of a button. All investors need is a Web3 wallet like MetaMask. A mobile application will also be released for increased accessibility.

The project has already proven quite popular, with over $10m raised and a presale price of $0.0134. For more information, be sure to join X and Telegram social accounts and read their whitepaper.

What We Like

  • APY levels are huge for the present time
  • Mining Bitcoin over an Ethereum network is a creative way to get the benefits of BTC mining, with none of the drawbacks.
  • Users can earn from staking, from burning tokens in return for BTC, or from straight price appreciation.
  • Discounted presale price of $0.0136.

3. Meme Kombat - Fight with Meme Coin Avatars on a Battle Arena and Earn Rewards and 112% Staking APYs

Meme Kombat is about to launch its play-to-earn AI-driven battle arena after the end of its ongoing $MK token presale. 

This meme cryptocurrency offers high-income-earning opportunities through its staking mechanism. Token holders can stake $MK and APYs as high as 107% during the course of the presale. Tokens are priced at just $0.279 and will automatically be staked after purchase. 

Meme Kombat presale

 

The main feature of Meme Kombat is the upcoming Battle Arena, where players can pick and battle opponents with their favorite meme coin avatars. Through Player vs Player and Player vs Game modes, you can engage in online battles to earn rewards. Meme Kombat lets token holders wager their tokens on live battles to increase their earnings. 

From a maximum supply of 120 million, Meme Kombat will offer 30% of the token supply as battle and staking rewards. To stay updated with this meme project, check the Meme Kombat whitepaper and join the Telegram channel.

What We Like

  • High-staking APYs of over 100%
  • Meme battle betting rewards
  • Token waging on live battles for increased earning
  • Low presale price of $0.0279

4. Wall Street Memes - Highly Popular Meme Presale & Staking Platform, Presale Complete And Listed on Exchanges

Wall Street Memes ($WSM) is one of the best yield farming platforms with a nearly $15m market cap. $WSM is a retail-focused token aiming to mock and make fun of Wall Street fat cats who make a profit at the expense of retail investors. 

Wall Street Memes homepage

The project offers potential for price appreciation alongside staking rewards, which currently sits at 28.32% with a total amount staked of over 566 $WSM. Investors can stake coins by using the staking dashboard, ensuring first they have purchased $WSM tokens using either MetaMask or Wallet Connect. Some ETH or BNB needs to be kept at hand to pay gas fees.

$WSM is currently listed on multiple T1 exchanges. Tokens that list on these exchanges often experience immediate increases in prices and trade volume. 

For more updates, join their X and Telegram accounts.

What We Like

  • Aimed at retail investors, not corporate actors or elites. Could follow successful tokens like Shiba Inu and Dogecoin.
  • Over 60% APY is an impressive yield and more constant than other high APY projects, where the yields can quickly come down.
  • 1 million social followers across multiple outlets, with interaction from Elon Musk.
  • A $15 million market capitalization.

5. SushiSwap - Decentralized Exchange for Staking and Yield Farming

SushiSwap is widely considered to be among the best yield farming crypto platforms in the market today. This decentralized exchange offers plenty of services, including trading, staking, and yield farming. 

SushiSwap, built on top of the Ethereum blockchain, supports over 350 tokens, where investors can link their crypto wallet to the platform and begin yield farming their preferred pairs. One of the most used products for 2023 was SushiXSwap (a cross-chain solution) which is now extended across 7 networks.

SushiSwap crypto yielding

Regarding yield farming pools, there are more than 500 of pairs to choose from. Most are paired with either ETH or USDT. For example, USDT/ETH is currently yielding 11.71%, while YFI/ETH is yielding 17.73%%. Investors should keep in mind that higher yields usually come with higher risk. Pairs with huge yields typically contain at least one low-cap coin, so investors can likely expect extreme volatility.

To get started with SushiSwap, users can connect a supported wallet like MetaMask, Trust, or Gnosis and then choose a suitable yield farming pair. Investors can withdraw their tokens and rewards at any time. 

What We Like

  • Supports hundreds of yield farming pools
  • Farming rates of over 100% on dozens of pairs
  • No account is needed – simply connect a supported wallet
  • Buy and sell tokens via decentralized pools
  • Over $415 million in total liquidity

6. OKX - Crypto Yield Farming Pools With Huge APYs

While OKX is primarily known for its exchange services, which is offered on the platform’s decentralized exchange wing with various Web3 tools. 

OKX has yield farming pools that are supported across multiple networks, including Ethereum, Arbitrum, Binance Smart Chain, and more. For example, USDC/WETH is currently yielding 4.7%. 

OKX crypto yield farming

Another option on OKX is to deposit crypto tokens into a staking pool, which also offers high-earning yields. No personal information or KYC is required when using the OKX DEX for yield farming and staking. OKX can be accessed via desktop browsers and its app for iOS and Android.

What We Like

  • Yield farming tools backed by one of the world’s largest exchanges
  • Estimated yields of up to 7,000%
  • Supports multiple blockchains – including Compound yield farming pools
  • Thousands of yield farming pairs to choose from
  • No KYC or personal details

7. Uniswap - Largest DEX on the Ethereum Network 

Uniswap is built on top of the Ethereum network and supports all ERC-20 tokens for trading and yield farming. This means that investors have ample choices when selecting a suitable pair. 

The most popular pairs contain stablecoins, such as USDC/ETH and DAI/USDC. These pools have $291 million and $108 million in total value locked (TVL), respectively. Other popular pairs include WBTC/ETH, FRAX/USDC, and ETH/USDT. While yields are higher on these pairs, so are the risks. As a decentralized exchange, yield farming is accessible anonymously. Investors simply need to connect their wallets to get the process started.

uniswap yield farming

Uniswap is also one of the best crypto exchanges for trading tokens. The platform uses automated market maker pools, so no seller is needed at the other end of the trade. This makes it simple to obtain tokens for yield farming. 

The platform can be accessed via desktop and mobile browsers. It is also compatible with other 300 decentralized apps, including Croco Finance, DeFi Saver, and AAVE.

What We Like

  • Largest decentralized exchange on the Ethereum network
  • Supports all ERC-20 tokens
  • Huge levels of liquidity
  • Earn yields anonymously

8. PancakeSwap - Earn Yields on Binance Smart Chain Tokens

PancakeSwap is another yield farming crypto platform for Binance Smart Chain (BSC) tokens. It also supports staking pools and decentralized trading in addition to yield farming. 
PancakeSwap is often the go-to exchange for new cryptocurrencies that have just been launched. More than 1.3 million users have conducted 17.2 million trades in the last 30 days. According to their monthly recap, there were over approximately 1.8 million unique traders just in January. PancakeSwap runs daily lotteries as well, with an average total of 35,000 CAKE being added to lottery rounds on a weekly basis

PancakeSwap yield farming

DeFi yield farming rates vary widely depending on the chosen pair. Some of the best yields are offered on pairs containing CAKE – which is the native token of PancakeSwap. Currently, CAKE/WBNB is yielding 15431.75%, whereas USDT/BUSD is yielding 575.59%.

PancakeSwap is also used for multipliers which boosts farming yield rewards with additional CAKE tokens. USDT/BNB, for example, currently offers a multiplier of 150x. 

What We Like

  • Popular yield farming platform for BSC tokens
  • More than $1.8 billion in TVL
  • Huge CAKE multipliers on most pairs
  • Also supports staking and trading

9. AAVE - Cross-Chain Yield Farming Pools to Maximize Returns 

AAVE is an open-source liquidity protocol that offers yield farming services. It offers cross-chain functionality, meaning AAVE enables investors to earn income on multiple blockchain networks at the same time.

In addition to Ethereum, AAVE supports networks like Polygon, Avalanche, Optimism, and Arbitrum. The platform has over $111 million in TVL across these five blockchain networks. 

AAVE homepage

Some of the most popular coins farmed on AAVE include Dai, LUSD, USD Coin, Tether, and Balancer. It is also possible to stake AAVE tokens, which are native to the platform. Currently, there are $379.57M funds in the safety module used for staking. As is the case with other crypto farming sites, earning rates vary depending on the pair.

What We Like

  • Cross-chain functionality to maximize income
  • Supports Ethereum, Polygon, Avalanche, and more
  • More than $11 billion in TVL
  • Also supports crypto-backed loans

10. Yearn.finance - Yield Farming Pools via Curve With Earning Boosts

Yearn.finance is a popular decentralized finance platform with various DeFi services, including yield farming.

The vast majority of yield farming pools are offered via the Curve protocol. A popular earning product on Yearn.finance is ‘vaults’. These are similar to staking, as only one deposited token is required. Some of which come with huge earning potential. Currently, Curve YFI-ETH Pool yVault and Curve YFI-ETH Pool yVault have yielded estimated returns of 2.09% and 140.22%, respectively.

Yearn.finance yield farming

Yearn.finance also has its own governance token, YFI, which happens to be one of the most valuable cryptos in the industry due to its limited supply of just over 36 thousand YFI. The token currently valued at $7,757 is just a fraction of its former all-time high of over $82,000.

What We Like

  • Earn yields via the Curve protocol
  • Estimated APYs of up to 500%
  • A total market cap of over $246 million
  • Also supports single-token vaults

11. Binance - Provide Exchange Liquidity and Earn Farming Rewards

Binance offers a share of collected trading fees, which means that passive income can be earned for as long as the investor has funds in the respective yield farming pool. 

Binance can be a great option for earning high yields. For example, BEL/USDT and IDEX/USDT yield over 62% and 58%, respectively. While PROM/BUSD and IDEX/BNB yield 35% and 34%. Reasonable yields can also be earned on farming pools containing two large-cap tokens. For example, BTC/USDT and XRP/USDT yield 2.4%.

Binance yield farming

Those looking to reduce market volatility can also farm stablecoins at competitive APYs. For instance, TUSD/USDT yields nearly 5%. While USDC/USDT and BUSD/USDT yield 4.7% and 3.3% respectively. Binance also offers other DeFi tools, such as staking, dual investments, and vaults.

What We Like

  • High yields on dozens of farming pools
  • Great option for farming stablecoins
  • Backed by the world’s largest exchange
  • Unparalleled levels of liquidity

12. Huobi - Dual Investment Pools With High Yields 

Huobi is a popular crypto exchange that offers dual investment pools, which are similar to yield farming but with a twist. Each dual investment pool requires the investor to deposit two crypto tokens. 

On Huobi, this always includes USDT. The yield earned by the investor will depend on the price of the pair once the dual investment expires. As an example, let’s suppose that an investor opts for BTC/USDT with a strike price of $28,000. If BTC/USDT closes above $28,000 on expiry, the investor will earn over 123%. The investor will lose money if the pair closes below the strike price. Losses vary depending on the price at the time of expiry.

HTX - Huobi - homescreen

Huobi supports multiple chains for its dual investment products, including Bitcoin, Ethereum, Avalanche, and Solana.

What We Like

  • Dual investment pools suitable for high-risk investors
  • Multiple blockchain networks supported
  • Also supports staking rewards
  • Store rewards in a decentralized wallet

13. CropperFinance - Top DeFi Platform for Farming Solana

Another option to consider is CropperFinance, which is a high yield crypto platform currently available for Solana yield farming. Built on top of the Solana network, CropperFinance offers a wide range of DeFi services. 

In addition to yield farming, CropperFinance includes token swaps, liquidity pools, and staking. Currently, investors can deposit funds into a CRP/SOL farming pool, with CRP being the native token of the CropperFinance ecosystem.

CropperFinance yield farming

This yield farming pool offers estimated APRs of over 370%. Other popular pools containing Solana-backed tokens include HTO/USDC, FUM/USDC, and ATC/USDC. 

CropperFinance is also a popular option for investing in new cryptocurrency launches from the Solana network, which usually offers early investors the lowest price possible.

What We Like

  • Earn an APY of over 370% on CRP/SOL
  • Built on top of the Solana blockchain
  • Staking rewards can also be earned
  • Also offers access to newly launched Solana projects

What is Crypto Yield Farming?

Yield farming is a complex investment tool that enables crypto holders to earn a passive income from tokens they own.

Generally, crypto exchanges pay interest to yield farming investors for providing liquidity for trading on the exchange. In effect, investors allow their tokens to be used for market-making and lending on the exchange. 

Yield farming rewards are funded by trading commissions, where investors receive a share of commissions collected by the respective exchange. It is also available on both centralized and decentralized exchanges.

Unlike crypto staking, yield farming requires investors to deposit two different tokens. This is because the investor provides liquidity for a trading pair, such as USDC/ETH or DAI/USDC. Investment returns will also be determined by the market value of both tokens, which is why yield farming is considered a high-risk, high-return investment option.

How Does Yield Farming Crypto Work?

In general, the yield farming process follows these steps:

  • Exchange liquidity: From the perspective of the exchange, the platform receives the much-needed liquidity, which ensures that buyers and sellers can trade in optimal market conditions. Insufficient levels of liquidity will result in slippage and an inability for market participants to agree on a price. From the perspective of investors, the exchange will share a percentage of trading commissions with those providing liquidity. Once the tokens are deposited by the investor, the earning process is completely passive.
  • Trading pairs: This means the investor will need to deposit two different tokens, where an equal amount needs to be deposited based on real-time market prices. Yield farming is also an option on low-cap tokens. This means that liquidity levels will likely still be low. But equally, yield farming rewards can be significantly higher.
  • Volatility: Investors need to consider the token's market value when assessing profits and losses when staking crypto. In the case of yield farming, the investor needs to consider two different tokens. For example, if both tokens deposited rise in value, this can amplify returns for the investor. But if the opposite happens, losses are likely to be encountered.
  • Share of farming pool: The greatest rewards are offered to those with a larger stake in the respective farming pool. This is because rewards are distributed based on the investor's stake.
  • Impermanent loss: This relates to losses that occur when the value of the two deposited tokens changes in relation to each other. This is because the yield farming platform will need to adjust the balance of the tokens in the pool to ensure they are equally valued. Because of that, yield farming is considered such a high-risk investment product, and many investors will opt for staking platforms like Binance.

Yield Farming vs Staking

Crypto staking is used to validate transactions on a proof-of-stake blockchain network. Rewards are released when a new block of transactions is validated.

Yield farming is used to provide liquidity to crypto exchanges. Rewards come from commissions paid for trading in a token pair at the exchange.

Yield farming and staking have many similarities. For example, both enable investors to earn passive income on idle crypto tokens. Furthermore, returns are based on multiple factors, including the token's market value being staked or farmed.

However, there are also some clear differences between the two:

  • Staking only requires the investor to deposit one token. This alleviates the risk of impermanent losses. On the other hand, yield farming requires the investor to deposit two different tokens since they form a trading pair.
  • Another difference between the two is how passive income is generated. In the case of staking, the platform will usually use the funds to facilitate crypto loans. The borrower will pay interest on the loan, and the investor will receive their share. Yield farming tokens are used to provide exchanges with liquidity. In turn, investors make money from trading fees that are collected from the respective pair. 

Remember that staking and yield farming both come with a high degree of risk. While rewards can be unprecedented, so can the losses.

Best Yield Farming Crypto List: Quick Overview

USDT/WBNB

Both Tether (USDT) and Wrapped BNB (WBNB) are solid tokens with high liquidity and trading volumes, which makes the USDT/WBNB ideal for yield farming. Currently, this yield farming pair offers an APY of 19.4% on SushiSwap.

USDT-WBNB

Do note that the pool currently has over $67k in TVL. This means that a large investment would allow the investor to control a sizable percentage of the pool.

WETH/USDC

Another popular pair for yield farming is Wrapped Ethereum (WETH) and USDC. This pair is currently available on SushiSwap with a huge TVL of $13.9 million. All three pools offer high levels of liquidity, offering a more stable yield farming process. 

WETH-USDC

An APY of 5.5% can be achieved when opting for Arbitrum.

USDC/USDT

USDC/USDT is a great option here, both of which are pegged to the US dollar. When adding liquidity to this farming pair on Uniswap, a yield of just over 1% is available. Currently, the pool contains a TVL of nearly $220.12 thousand on SushiSwap.

USDC/USDT

ACID/ETH

Investors with a high-risk appetite will need to consider micro-cap tokens when targeting the highest yield farming rewards. A good example of this is ACID/ETH. Currently, ACID Token carries a market capitalization of just $4.2 million, so it's possible to get a huge APY of 89% on ACID/ETH. 

ACID/ETH

This pair is listed on the Camelot protocol via the Arbitrum network. A TVL of over $452,000 is currently available.

BTC/ETH

BTC/ETH is a popular liquidity pool that is available across many of the best yield farming pools.

BTC/ETH yield farming

We found that the highest yield on offer is currently 3.2%. This is available at SushiSwap, and the TVL is $31.07 million. At SushiSwap, this pair operates on the Fantom network.

Note: All of the yield farming pairs discussed below can be accessed via the OKX DEX. This is because OKX offers aggregator services, meaning it can connect to dozens of leading yield farming platforms.

Best Yield Farming Strategy

There is no one-size-fits-all solution when exploring the best yield farming strategy. Ultimately, the strategy will depend on the investor's risk appetite and financial goals.

For instance, an investor with a lower tolerance for risk will likely be more suited for yield farming pairs that only contain stablecoins. In theory, this removes the risk of impermanent loss and volatility. Although stablecoins are never risk-free, compared to conventional cryptocurrencies, the risks are typically much lower. In turn, APYs on stablecoin yield farming will be modest.

SushiSwap yield farming

At the other end of the scale, investors with a high appetite for risk might consider a yield-farming pair containing a new or low-cap crypto. This will present the best chance possible of making sizable returns. 

A good middle ground is to consider yield farming pairs that contain two large-cap tokens with an established track record, such as Ethereum, Litecoin, Bitcoin Cash, Solana, and Cardano. Irrespective of the chosen pair, it is important for investors to diversify.

Is Crypto Yield Farming Taxed?

The bottom line: In most countries, rewards earned from yield farming are considered taxable income, meaning that yield farming rewards will be added to the investor’s income and also push the investor to a higher tax bracket.

The amount that needs to be added to the investor's income is determined by the value of the tokens when received. Remember that the amount withdrawn from a yield farming pool will vary depending on market forces. For example, if an investor originally deposits 10 ETH and 1 BTC into a farming pool, when they withdraw them, they get the same amount back. However, the value of both ETH and BTC has increased by 50%, which means that the reported income should be based on the higher value.

On the flip side, investors making a loss from yield farming (even if the token values have increased) will likely be able to make tax deductions. Additionally, investors can learn how to safely avoid crypto taxes and potentially reduce their tax bracket.

Is Crypto Yield Farming Legit & Safe?

In most countries, DeFi services like yield farming and staking are legal. However, investors should ensure they are well-versed in the risks of yield farming before proceeding.

This includes researching the chosen yield farming platform. In most cases, there is no requirement to deposit funds into the platform itself when using a DEX like Uniswap or SushiSwap. Instead, the tokens are deposited into a smart contract, meaning the provider cannot personally access the funds. Sometimes, however, even the best yield crypto can have vulnerability in the smart contract itself, so the funds could be at risk. 

There is always the chance that investors will lose some or even all of their money due to risk issues. This can happen if the tokens being farmed witness a sizable devaluation, so it might be best to stick with a regulated platform that offers staking.

Conclusion

When choosing the best yield farming crypto platform, investors should always be on the lookout for factors such as security, user experience, APY rates, and tokenomics. 

While yield farming offers the potential to earn unprecedented rewards, risks can be relatively high. So, before trying it out investors should remember to make a risk estimation as well as thorough research on the platforms they are investing in.

It offers huge staking yields by allowing investors to lock their tokens on a verified smart contract. Currently, $BTCETF can be purchased through the ongoing presale.

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Kane Pepi

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…