What is Goose Finance (EGG)?
Goose Finance is Yield farming project on the Binance Smart Chain. You can also follow our tutorial on how to stake Egg on Goose Finance.
How to Buy EGG Crypto?
Step 1 - Register on Binance
Binance is one of the main exchanges for crypto. We'll need to register on Binance and use it to buy the Binance Token, known as BNB.
Now it's the boring part where you need to fill out your information. Make sure to use your real information because Binance will ask you for verification of everything.
Step 2 - Buy USDT with Fiat Money and Trade it for BNB
Now that all the boring verification part is done, you have to add a payment method. You can choose between a Bank Transfer or Credit/Debit card. Credit Card has higher fees, but you can make an instant purchase. Bank Transfer is cheaper, but you have to wait a couple of days for the money to arrive at Coinbase.
For this demonstration, I will be using the Credit Card payment method.
On the upper left corner, click on Buy Crypto, and select your payment method:
On the next page, select or add the card you're going to use to buy crypto. And the cryptocurrency you'll need to buy is USDT. The reason we are buying USDT is for the purpose of saving in fees. Buying USDT will have much lower fees than buying BNB directly because each USDT token represents one US dollar. So we'll be buying USDT, and trading it for BNB afterwards. If you wanna skip this step you can buy BNB directly now, but I recommend you not to, so you can save on the fees and get more crypto out of your Fiat money.
Add your card if you haven't yet, and proceed with the purchase of USDT.
Time to convert it to BNB. Click on Trade on the top menu:
Select the amount you want to trade (click on MAX if you want to trade it all). Proceed, wait for a few moments and you should now have BNB in your Binance Wallet. That's it for this step.
Step 3 - Setting up a Metamask Wallet
Metamask is by far the most used walled in the world of Ethereum. Whenever you want to buy and sell cryptocurrencies or even use blockchain apps that run on the Ethereum Network, Metamask will be your best friend. Setting up the wallet is also very simple and easy.
Head over to metamask.io and click Download. You'll need to use Google Chrome, Brave Browser, Firefox, or Microsoft Edge for this to work. So make sure you are using one of these four browsers. Now at the end of the page, click on the browser you're using and install the extension.
You are now the Welcome Page of Metamask. Click on 'Get Started.' Now click on 'Create a Wallet.' Choose a strong password for your Metamask wallet and continue.
Very Important Part! Keeping your backup phrase safe is the difference between having millions in your account or be that guy on the landfill looking for his old hard drive.
Click on reveal your backup phrase and write every word down on paper. Make sure you don't save your backup phrase on anything digital. This is for your security. After you wrote down your backup phrase, you'll be asked to confirm it. Click on every word in the correct order, and you should be done.
Now since we are using the Binance Smart Chain, we'll need to add the Network. I'll go over this very quickly. If you need a more in-depth tutorial for this part, you can check out Binance's tutorial right here.
Click on the upper right corner where you see the image and then click Settings. Select Networks and click on Add Network.
Fill out the boxes with this info:
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
Click save and now you have Binance Smart Chain installed on your Metamask.
Step 4 - Send your BNB to the Metamask Wallet
To buy EGG, you'll need to have some BNB in your Metamask balance so you can trade it for EGG. That is why I instructed you to buy BNB first, instead of Bitcoin, for example.
To have your previously purchased BNB on your Metamask wallet, you have to send it from your Binance account to your Metamask wallet.
Copy your Metamask Wallet address by clicking here:
Go back to your Binance. On the upper right corner, click on Wallet - Fiat and Spot.
You should see a list of the cryptocurrencies in your wallet, find BNB and click on withdraw:
Now you should paste the Metamask wallet address that you copied before to the Recipient's BNB Address. Select the Binance Smart Chain (BSC) and choose the amount you want to send. This address is the same as the one you use with the Ethereum Network.
Confirm everything is correct and continue. Fill out the verification codes sent to your email, phone number or Google Authenticator and proceed. You should receive your BNB on your Metamask Wallet within minutes.
Step 5 - Buy EGG on Goose Finance with BNB
Before we head over to Goose Finance, we need to prepare your Metamask Wallet to receive EGG. Open Metamask, scroll all the way down, and click here:
Select Custom Token and paste this token contract address there:
The rest should autofill, and you need to click next and then add tokens. Your account is now ready to receive Goose Finance (EGG).
You can check the price and confirm the correct token address of EGG on Coingecko.
Let's buy some EGG!
Go to Goose Finance. On the upper right corner, click on Connect Wallet and select Metamask. A confirmation popup should open on Metamask (click on the "little fox logo" if you don't see it). Now you need to accept, connect, and your wallet should be connected to Goose Finance.
Click on Select Token, search "EGG" and select it.
This is what you should see now:
Now you have to select the amount of BNB you want to trade for EGG. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.
Wait a few minutes, and your EGG should appear on your Metamask Wallet.
Congratulations! You are now a proud Investor of Goose Finance EGG!
In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Goose Finance's gear icon, and put 5% here:
Is Goose Finance a good investment?
Goose Finance is not a good long-term investment. Their farming and staking options lure investors with extremely high APR's but the tokens you're earning will decrease in price so much and so quickly that you will most likely lose money instead. In my opinion, Goose Finance is not a good investment and you should look into better and serious projects like Polkacover or Hbar.
Check out Goose Finance's links:
Please make sure you read our Disclaimer. We are not financial advisors.