How to Buy Yield Basis (YB) Coin on Bitrue: Step-by-Step Guide

If you’re looking to invest in DeFi tokens with innovative mechanics, YieldBasis (YB) is one of the most interesting projects currently available on Bitrue. 

Instead of going through complicated DeFi protocols or liquidity pool setups manually, Bitrue allows users to buy YB easily through a centralized and secure interface. 

In this guide, we’ll walk you through how to buy YieldBasis (YB) Coin on Bitrue and give you a quick overview of what the project offers, including a brief price analysis based on today’s chart.

What is YieldBasis (YB) Coin?

YieldBasis (YB) Coin is a DeFi protocol designed to eliminate impermanent loss for liquidity providers. Built on Curve Finance’s infrastructure, it uses a 2× compounding leverage system where users deposit assets and receive YieldBasis LP tokens representing their position.

Here’s how it works in simple terms:

- The protocol borrows crvUSD against LP positions using a CDP (Collateralized Debt Position).

- When market fluctuations occur, an automated Rebalancing-AMM and VirtualPool system kicks in, allowing arbitrageurs to rebalance positions back to a targeted leverage ratio.

- This setup allows YieldBasis LP tokens to track crypto asset prices 1:1, while also earning trading fees from Curve pools.

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YB Coin, Native Token of YieldBasis

The YB token is the governance and utility token of the YieldBasis ecosystem.

Here’s the main functions of YB coin:

1. Governance & Voting: YB holders can lock tokens for up to 4 years to receive veYB, granting them voting rights for protocol decisions.

2. Staking Rewards: Users who stake YieldBasis LP tokens are rewarded with YB emissions.

3. Fee Allocation: A dynamic fee structure splits fees between unstaked LP holders and veYB holders, depending on staking activity.

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YieldBasis (YB) Coin Price Overview  

Referring to the latest chart on Bitrue, YB coin price is currently trading between $0.65 and $0.80 with noticeable volatility throughout the 24-hour window. 

The chart above shows:

- A sharp spike at the start, indicating early speculative buying pressure.

- A pullback to the $0.65 range, suggesting a consolidation zone where traders are accumulating.

- Multiple attempts to break above $0.75, but each rally faces quick sell-offs, a sign of short-term profit-taking.

From a technical perspective, $0.65 acts as the current support, while $0.75-$0.80 is the resistance area. 

Traders watching for a breakout might consider waiting for a clean move above $0.80, while long-term holders might see dips below $0.70 as a potential accumulation zone, but always combine this with personal risk management.

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How to Buy YieldBasis (YB) Coin on Bitrue

Buying the YB coin on Bitrue is straightforward, and you don’t need to interact directly with DeFi pools or complex AMMs.

Here’s a step-by-step guide on how to YieldBasis (YB) coin on Bitrue:

Step 1: Create a Bitrue Account

- Visit Bitrue exchange or download the official app.

- Register using your email or phone number.

- Enable Google Authenticator (2FA) for extra account security.

Step 2: Complete KYC Verification

- Go to “Identity Verification” in your account settings.

- Select your region, upload your ID documents, and complete the facial verification.

- Once KYC is approved, you’ll get access to full trading features.

Step 3: Deposit USDT 

- Head to Assets → Deposit and transfer USDT into your Bitrue wallet.

- These stablecoins are required to trade for YB through the spot market.

Step 4: Trade YB in the Spot Market

- Click Trade → Spot on the Bitrue platform.

- Search for YB/USDT pairs.

- Choose between “Market Order” to instant execution at live price or “Limit Order” to set your desired entry price and wait for execution.

- Confirm the trade and wait for it to process.

Step 5: Store or Withdraw Your YB

- After purchasing, YB will appear in your Bitrue wallet.

- You can either hold or trade it within Bitrue; stake it if the option is available; or withdraw to an external wallet that supports YB tokens.

If your YB doesn’t show up after a confirmed order, contact Bitrue Support or check the Help Center for manual updates.

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Conclusion

YieldBasis (YB) coin introduces a powerful solution for DeFi liquidity providers by protecting against impermanent loss while offering fee rewards and governance incentives. 

With Bitrue, investors now have easier access without dealing with complicated DeFi mechanics. Following the steps above, you can buy YB in just a few minutes using USDT or USDC.

As always, monitor the price chart, keep an eye on support and resistance levels, and trade responsibly based on your risk tolerance.

Explore expert insights, in-depth articles, and the latest crypto market trends on Bitrue blog. Whether you're a beginner or a seasoned trader, there's something valuable for everyone. Stay informed and ahead in your crypto journey. Register now on Bitrue and take the next step!

FAQ

What trading pair is available for YB on Bitrue?

You can trade YB using YB/USDT or YB/USDC pairs.

Do I need KYC to buy YB on Bitrue?

Yes, you must complete identity verification to access Bitrue Alpha trading.

Can I buy YB using a credit card?

You need to first buy USDT or USDC using your card, then swap it to YB via spot trading.

Where is my YB stored after buying?

Your YB tokens will be stored in your Bitrue trading wallet by default, and you can transfer or withdraw them anytime.

Is YieldBasis a DeFi or CEX-based token?

YieldBasis is a DeFi protocol, but Bitrue provides a centralized and user-friendly gateway to buy the token easily.