How To Store & Secure Your Yearn Finance(YFI)

Yearn Finance(YFI) is one of the biggest DeFi yield farming platforms we have today.

💡 Achieve enterprise-grade wallet security by using a Ledger hardware wallet.

With that said, having great and successful cryptocurrency investments are pretty pointless if your funds are insecure and could be potentially stolen sometime in the future.

So if you’re a fan of the Yearn Finance platform and are looking for a guide to properly secure your Yearn Finance(YFI) tokens, you’ve come to the right place.

What wallet should I use?

Yearn Finance(YFI) is currently an Ethereum ERC20 token. So just like any other ERC20 token, you can store your Yearn Finance(YFI) on reputable Ethereum wallets like MyEtherWallet(MEW) and MyCrypto; or preferably, through a reputable hardware wallet like a Ledger Nano S or the newer and Bluetooth-enabled Ledger nano X if you’re holding a significant amount.

READ: The brand new Ledger Nano X: Is it worth buying?

How do I create a secure Ethereum wallet for my Yearn Finance(YFI)?

You can follow our guide here: How To Create a Secure Ethereum Wallet

After creating an Ethereum wallet using our guide, you can simply send out your Yearn Finance(YFI) to the Ethereum address of the wallet you’ve created.

Does the Ledger Nano S or Nano X support Yearn Finance(YFI)?

Yes, Ledger hardware wallets do support Yearn Finance(YFI) tokens and all Ethereum ERC20 tokens in general.

If you don’t have a Ledger hardware wallet yet, you can grab one here: Ledger Nano

How do I store my Yearn Finance(YFI) on the Ledger Nano S/X?

If you own a significant amount of money on Yearn Finance(YFI) or any other cryptocurrency, we heavily recommend using a hardware wallet like the Ledger Nano S/X. You can follow our guide here: Store your Ether & ERC20 Tokens on the Ledger Nano S/X

After installing the Ethereum app on your Ledger Nano S/X and on Ledger Live, simply send in your Yearn Finance(YFI) to your Ethereum address on Ledger Live.

After sending in your funds to your Ethereum wallet on Ledger Live, you can access your Yearn Finance(YFI) and your other ERC20 tokens on MyEtherWallet here: https://www.myetherwallet.com/access-my-wallet

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