Find the best lending platforms
Lending Wrapped stETH can be a great option for those who want to hold WSTETH 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.
In order to lend Wrapped stETH, you need to have it. To obtain Wrapped stETH, you’ll need to purchase it. You can choose from these popular exchanges.
Once you have WSTETH, you’ll need to choose a Wrapped stETH lending platform to lend your tokens. You can see some options here.
Once you’ve chosen a platform to lending your Wrapped stETH, transfer your Wrapped stETH 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.
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.
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.