Rabbit Finance brings leveraged yield farming to the Binance Smart Chain, and its price is reaching dizzy new heights. Here’s the best place to buy RABBIT today.
Leveraged yield farming is one of the more advanced weapons in the arsenal of decentralised finance (DeFi), and was pioneered by Alpha Finance Labs on the Ethereum blockchain. Thanks to prohibitive costs in the Ethereum ecosystem, however, much of DeFi is now available on the Binance Smart Chain (BSC), with Rabbit Finance bring leverage yield farming to the party.
Keep reading to jump down the rabbit hole and find out how to buy RABBIT coins today.
How & where to buy Rabbit Finance in the UK and elsewhere
Rabbit Finance is available on many of the top exchange and broker platforms. Create an account with one of our selected partners below. Once you have completed sign up and funded your account, you can begin trading cryptocurrencies immediately.
Some traders like to use decentralised exchanges (DEXs) to trade BSC-native tokens. This approach has its benefits, but we advise our readers to avoid DEXs wherever possible, as they are unregulated. This means that they operate outside the purview of financial authorities, and could be shut down at any time, potentially leaving funds vulnerable.
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
CedarFX is an eco-conscious broker offering 0% commission trading on 170+ assets, including Forex, Cryptocurrency Pairs, Stocks, Indices and Commodities. With up to 1:500 leverage, no-fee transactions and low spreads, traders can make the most of their funds. CedarFX also offers an Eco Account option to support tree planting and sustainability projects.
What is Rabbit Finance?
Rabbit Finance is a BSC DeFi protocol that enables users to engage in leveraged yield farming. What is yield farming? Yield farming is the process of locking up liquidity pool (LP) tokens, by staking, in return for rewards – usually newly minted inflationary DeFi tokens. This incentivises users to provide liquidity and secure the network by staking.
Protocols like Rabbit Finance bring leverage to this corner of DeFi. This allows users to borrow capital (using leverage) to increase the size of their LP position. Naturally, this carries with it a higher risk profile, but the potential for much higher rewards is a huge draw for more technically attuned investors, who often call themselves “farmers”.
Should I buy Rabbit Finance today?
If you want to get in on the leveraged yield farming action, but don’t want to involve yourself with the complex technicalities or take on the risk involved, you can simply buy RABBIT tokens. RABBIT tokens are the principle reward medium of the Rabbit Finance protocol, meaning that as Rabbit Finance gains popularity, RABBIT coins should theoretically increase in value.
If the general success of DeFi is anything to go by, this is certainly a possibility. Billionaire investors like Mark Cuban, the owner of the Dallas Mavericks, have been piling into DeFi during this bull market, and BSC projects have been picking up steam as of late. This is due to Ethereum’s lagging upgrade to proof-of-stake consensus, and the low fees offered by Binance’s chain.
The post Rabbit Finance enjoys 450% price hop: dive down the RABBIT hole today appeared first on Coin Journal.