Introduction
Lending Binance Coin can be a great option for those who want to hold BNB 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 Binance Coin (BNB) tokens
In order to lend Binance Coin, you need to have it. To obtain Binance Coin, you’ll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Binance Coin lender
Once you have BNB, you’ll need to choose a Binance Coin lending platform to lend your tokens. You can see some options here.
- 3
Lend your Binance Coin
Once you’ve chosen a platform to lending your Binance Coin, transfer your Binance Coin 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
Binance Coin (BNB) is currently priced at $599.5, with a 24-hour trading volume of $866.83M. In the last 24 hours, Binance Coin has seen an increase to 1.2. The market cap of Binance Coin stands at $87.48B, with 147.59M in circulation. For those looking to buy or trade Binance Coin, reputable platforms like Binance, BTSE, YouHodler, EarnPark and Nexo offer avenues to do so securely and efficiently.
- Market cap
- $87.48B
- Volume
- $866.83M
- Circulating supply
- $147.59M
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