Introduction
Lending BitShares can be a great option for those who want to hold BTS 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 BitShares (BTS) tokens
In order to lend BitShares, you need to have it. To obtain BitShares, you’ll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a BitShares lender
Once you have BTS, you’ll need to choose a BitShares lending platform to lend your tokens. You can see some options here.
- 3
Lend your BitShares
Once you’ve chosen a platform to lending your BitShares, transfer your BitShares 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.
