Introduction
Lending dYdX can be a great option for those who want to hold DYDX 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 dYdX (DYDX) tokens
In order to lend dYdX, you need to have it. To obtain dYdX, you’ll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a dYdX lender
Once you have DYDX, you’ll need to choose a dYdX lending platform to lend your tokens. You can see some options here.
- 3
Lend your dYdX
Once you’ve chosen a platform to lending your dYdX, transfer your dYdX 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
dYdX (DYDX) is currently priced at $2.16, with a 24-hour trading volume of $12.69M. In the last 24 hours, dYdX has seen an increase to 2.94. The market cap of dYdX stands at $952.10M, with 464.68M in circulation. For those looking to buy or trade dYdX, reputable platforms like OKX, Binance, BTSE, Kraken, Nexo and Crypto.com offer avenues to do so securely and efficiently.
- Market cap
- $952.10M
- Volume
- $12.69M
- Circulating supply
- $464.68M
