Introduction
Lending Orchid Protocol can be a great option for those who want to hold OXT 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 Orchid Protocol (OXT) tokens
In order to lend Orchid Protocol, you need to have it. To obtain Orchid Protocol, you’ll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Orchid Protocol lender
Once you have OXT, you’ll need to choose a Orchid Protocol lending platform to lend your tokens. You can see some options here.
- 3
Lend your Orchid Protocol
Once you’ve chosen a platform to lending your Orchid Protocol, transfer your Orchid Protocol 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
Orchid Protocol (OXT) is currently priced at $0.1002, with a 24-hour trading volume of $4.27M. In the last 24 hours, Orchid Protocol has seen an increase to 4.81. The market cap of Orchid Protocol stands at $93.96M, with 979.78M in circulation. For those looking to buy or trade Orchid Protocol, reputable platforms like Binance, BTSE, Kraken, Coinbase and Crypto.com offer avenues to do so securely and efficiently.
- Market cap
- $93.96M
- Volume
- $4.27M
- Circulating supply
- $979.78M
