Introduction
Lending Bitcoin Cash can be a great option for those who want to hold BCH 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 Bitcoin Cash (BCH) tokens
In order to lend Bitcoin Cash, you need to have it. To obtain Bitcoin Cash, you’ll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Bitcoin Cash lender
Once you have BCH, you’ll need to choose a Bitcoin Cash lending platform to lend your tokens. You can see some options here.
- 3
Lend your Bitcoin Cash
Once you’ve chosen a platform to lending your Bitcoin Cash, transfer your Bitcoin Cash 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
Bitcoin Cash (BCH) is currently priced at $461.42, with a 24-hour trading volume of $235.36M. In the last 24 hours, Bitcoin Cash has experienced a decrease to -1.68. The market cap of Bitcoin Cash stands at $9.26B, with 19.70M in circulation. For those looking to buy or trade Bitcoin Cash, reputable platforms like OKX, Binance, Coinbase, Kraken, YouHodler and EarnPark offer avenues to do so securely and efficiently.
- Market cap
- $9.26B
- Volume
- $235.36M
- Circulating supply
- $19.70M
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