How to Lend Dai (DAI): A Step-by-Step Guide

Introduction

Lending Dai can be a great option for those who want to hold DAI 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 Guide

1. Obtain Dai (DAI) Tokens
In order to lend Dai, you need to have it. To obtain Dai, you’ll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Uphold Dai (DAI) 1
Bitget Dai (DAI) 1
See all 25 prices
2. Choose a Dai Lender
Once you have DAI, you’ll need to choose a Dai lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate
Nexo Dai (DAI) Up to 14 APY
Aave Dai (DAI) Up to 11.64 APY
Bitget Dai (DAI) Up to 5 APY
Blockchain.com Dai (DAI) Up to 10 APY
Wirex Dai (DAI) Up to 16 APY
See all 18 lending rates
3. Lend Your Dai
Once you’ve chosen a platform to lending your Dai, transfer your Dai 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.

Platform	Coin	Price
Uphold	Dai (DAI)	1
Bitget	Dai (DAI)	1

Platform	Coin	Interest rate
Nexo	Dai (DAI)	Up to 14 APY
Aave	Dai (DAI)	Up to 11.64 APY
Bitget	Dai (DAI)	Up to 5 APY
Blockchain.com	Dai (DAI)	Up to 10 APY
Wirex	Dai (DAI)	Up to 16 APY

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

Dai (DAI) is currently priced at $6 with a 24-hour trading volume of $147.11M. The market cap of Dai stands at $3.41B, with 3.41B DAI in circulation. For those looking to buy or trade Dai, Nexo offers avenues to do so securely and efficiently}

Market cap: $3.41B
24h volume: $147.11M
Circulating supply: 3.41B DAI

See latest information

Frequently Asked Questions About Lending Dai (DAI)

What are the current Dai lending rates in the UAE?: Dai lending rates can vary across platforms. Use Bitcompare's real-time price comparisons to find the best rates on reputable exchanges. Stay informed by checking regularly to make well-informed decisions.
How often do Dai lending rates change?: Dai lending rates can change frequently due to market volatility. Bitcompare offers tools like email alerts and sentiment analysis to monitor these changes. Bookmark the page to stay updated.
Are there fees associated with Dai lending?: Fees for Dai lending vary by platform. For specific details, compare rates and fees using Bitcompare. Staying informed with the latest updates ensures you choose platforms with favorable terms.
Is Dai lending in the UAE safe?: Lending Dai involves risks like any financial activity. Use Bitcompare to find reputable exchanges and review sentiment analysis for additional insights on safety. Stay informed to mitigate risks.
Where can I find the latest news about Dai?: Stay updated with the latest Dai news events on Bitcompare. Check the platform regularly for news and analysis to remain informed about market trends and make decisive actions.
Can I receive alerts for changes in Dai lending rates?: Yes, Bitcompare offers email alerts to notify you about changes in Dai lending rates. Sign up to receive updates directly, helping you stay informed and make timely decisions.
Why are Dai lending rates different across platforms?: Dai lending rates may differ due to supply/demand variations and platform-specific policies. Use Bitcompare for real-time cross-platform comparisons to identify the best opportunities.
How can I make sure I'm getting the best Dai lending rate?: Utilize Bitcompare's real-time price comparisons and thorough analyses. Regularly check updates to ensure you are opting for the most advantageous rates. Bookmark the page for easy access.
What tools can help me track Dai's performance?: Use Bitcompare’s real-time price comparisons, sentiment analysis, and the latest news features to monitor Dai’s performance. Bookmark the page and check back frequently to stay ahead of market changes.