Monero (XMR) is currently priced at $124, with a 24-hour trading volume of $51.90M. In the last 24 hours, Monero has experienced a decrease to -2.13. The market cap of Monero stands at $2.33B, with 18.43M in circulation. For those looking to buy or trade Monero, reputable platforms like BTSE and Kraken offer avenues to do so securely and efficiently.
Lending Monero can be a great option for those who want to hold XMR 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 Monero, you need to have it. To obtain Monero, you’ll need to purchase it. You can choose from these popular exchanges.
Once you have XMR, you’ll need to choose a Monero lending platform to lend your tokens. You can see some options here.
Once you’ve chosen a platform to lending your Monero, transfer your Monero 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.
