Where and How to Lend Synthetix (SNX)

Introduction

Lending Synthetix can be a great option for those who want to hold SNX 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. 1. Obtain Synthetix (SNX) Tokens

   In order to lend Synthetix, you need to have it. To obtain Synthetix, you’ll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	Synthetix (SNX)	1.36
   Bitpanda	Synthetix (SNX)	1.36
   Wirex	Synthetix (SNX)	1.36
   Uphold	Synthetix (SNX)	1.36
   Kraken	Synthetix (SNX)	1.39
   OKX	Synthetix (SNX)	1.36

   See all 23 prices

2. 2. Choose a Synthetix Lender

   Once you have SNX, you’ll need to choose a Synthetix lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   YouHodler	Synthetix (SNX)	Up to 12.00 APY
   Bitget	Synthetix (SNX)	Up to 1.50 APY
   Kucoin	Synthetix (SNX)	Up to 0.20 APY

   See all 7 lending rates

3. 3. Lend Your Synthetix

   Once you’ve chosen a platform to lending your Synthetix, transfer your Synthetix 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. 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.