Lecture 2.0.0. Two Myths About Yield Farming
FIRST MYTH: Yield farming is complicated, hence, only few people can profit from it.
Many platforms that provide yield farming are constantly innovating and upgrading; each upgrade seeks to simplify the yield farming process.
Hence, today anyone, whether you are new to the Crypto Market or not, can participate in yield farming.
SECOND MYTH: Yield farming is only for those with large sums of money.
Before, it was only those with large sums of money that could engage in yield farming on the Ethereum blockchain, which has grown to become quite expensive in gas fees.
However, with the birth of Binance Smartchain in September 2020, the story has changed. Binance Smartchain is much faster and moreover far much cheaper in gas fees than the Ethereum Smartchain.
Also, a number of newer smartchains with cheaper gas fees and faster speed of transactions are springing up rapidly in the Crypto Market. Meaning that today anyone with any amount of money, some as little as 50 dollars or even less, can participate in yield farming and grow his crypto portfolio.