Introduction
Lending Avalanche can be a great option for those who want to hold AVAX but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-step
- 1
Obtain Avalanche (AVAX) tokens
In order to lend Avalanche, you need to have it. To obtain Avalanche, you’ll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Avalanche lender
Once you have AVAX, you’ll need to choose a Avalanche lending platform to lend your tokens. You can see some options here.
- 3
Lend your Avalanche
Once you’ve chosen a platform to lending your Avalanche, transfer your Avalanche into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.
- 4
Earn interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compounding interest to maximise your returns.
What to be aware of
Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.
Latest movements
Avalanche (AVAX) is currently priced at $36.08, with a 24-hour trading volume of $623.56M. In the last 24 hours, Avalanche has experienced a decrease to -2.9. The market cap of Avalanche stands at $14.14B, with 380.54M in circulation. For those looking to buy or trade Avalanche, reputable platforms like OKX, Binance, BTSE, Kraken, YouHodler and EarnPark offer avenues to do so securely and efficiently.
- Market cap
- $14.14B
- Volume
- $623.56M
- Circulating supply
- $380.54M
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