Introduction
Lending Sui can be an excellent choice for those looking to hold SUI 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. Acquire Sui (SUI) Tokens
To lend Sui, you must first acquire it. To obtain Sui, you will need to purchase it. You can select from these well-known exchanges available in the UAE.
2. Select a Sui provider in the UAE
Once you have SUI, you'll need to select a Sui lending platform to lend your tokens. You can explore some options available in the UAE market here.
3. Lend Your Sui in the UAE
Once you've selected a platform to lend your Sui, transfer your Sui 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. 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.
Recent Developments
Sui (SUI) is currently priced at $2.8 with a 24-hour trading volume of $1.93B. The market cap of Sui stands at $14.6B, with 3.01B SUI in circulation. For those looking to buy or trade Sui, Bitget offers avenues to do so securely and efficiently
- Market capitalization
- $14.6B
- 24-hour trading volume
- $1.93B
- Circulating supply
- 3.01B SUI
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