How to Lend MultiversX (EGLD)

Introduction

Lending MultiversX can be an excellent choice for those looking to hold EGLD while generating returns. The process may seem overwhelming, particularly for first-time users. That’s why we’ve created this guide specifically for you.

Step-by-Step Guide for UAE Residents

1. 1. Acquire MultiversX (EGLD) Tokens

   To lend MultiversX, you must first acquire it. To obtain MultiversX, you will need to purchase it. You can select from these well-known exchanges available in the UAE.

   Platform	Cryptocurrency	Price
   PrimeXBT	MultiversX (EGLD)	6.21
   YouHodler	MultiversX (EGLD)	6.21
   Binance	MultiversX (EGLD)	6.21
   BTSE	MultiversX (EGLD)	6.22
   Coinbase	MultiversX (EGLD)	6.21
   Kraken	MultiversX (EGLD)	6.26

   View all 53 prices

2. 2. Select a MultiversX provider in the UAE

   Once you have EGLD, you'll need to select a MultiversX lending platform to lend your tokens. You can explore some options available in the UAE market here.

   Platform	Cryptocurrency	APY
   YouHodler	MultiversX (EGLD)	Up to 16% APY
   Bitget	MultiversX (EGLD)	Up to 0.3% APY
   Kucoin	MultiversX (EGLD)	Up to 6% APY

   View all 5 financing rates

3. 3. Lend Your MultiversX in the UAE

   Once you've selected a platform to lend your MultiversX, transfer your MultiversX into your wallet on the lending platform. Once it's deposited, it will begin to earn APY. Some platforms offer interest payments daily, while others may do so weekly or monthly.

4. 4. Earn APY on Your Investments

   Now all you need to do is relax while your cryptocurrency earns APY. The more you deposit, the higher your potential returns. Ensure that your lending platform offers compounding interest to maximize your earnings.

What to Consider in the UAE Market

Lending your cryptocurrency can carry certain risks. It’s essential to conduct thorough research before depositing your cryptocurrency. Only lend what you can afford to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.