Introduction
Lending Shiba Inu can be a great option for those who want to hold SHIB 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 Shiba Inu (SHIB) tokens
In order to lend Shiba Inu, you need to have it. To obtain Shiba Inu, you’ll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Shiba Inu lender
Once you have SHIB, you’ll need to choose a Shiba Inu lending platform to lend your tokens. You can see some options here.
- 3
Lend your Shiba Inu
Once you’ve chosen a platform to lending your Shiba Inu, transfer your Shiba Inu 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
Shiba Inu (SHIB) is currently priced at $0.00002469, with a 24-hour trading volume of $910.87M. In the last 24 hours, Shiba Inu has experienced a decrease to -1.43. The market cap of Shiba Inu stands at $13.35B, with 589.29T in circulation. For those looking to buy or trade Shiba Inu, reputable platforms like OKX, Binance, BTSE, Kraken, YouHodler and Nexo offer avenues to do so securely and efficiently.
- Market cap
- $13.35B
- Volume
- $910.87M
- Circulating supply
- $589.29T