How to Earn Solana (SOL): A Comprehensive Guide for Australians

Introduction

Lending Solana can be a great option for those who want to hold SOL while earning yield. The steps may seem a bit 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 Solana (SOL) tokens
To lend Solana, you need to possess it. To acquire Solana, you'll need to buy it. You can select from these popular exchanges.
Platform Coin Cost
Nexo Solana (SOL) 140.96
PrimeXBT Solana (SOL) 140.51
EarnPark Solana (SOL) 139.14
YouHodler Solana (SOL) 140.71
Binance Solana (SOL) 140.71
BTSE Solana (SOL) 140.64
See all 84 prices
2. Choose a Solana lender
Once you have SOL, you'll need to choose a Solana lending platform to lend your tokens. You can find some options here.
Platform Coin Interest rate
Nexo Solana (SOL) Up to 8% p.a.
EarnPark Solana (SOL) Up to 7% p.a.
YouHodler Solana (SOL) Up to 12% p.a.
Bitget Solana (SOL) Up to 3.8% p.a.
Blockchain.com Solana (SOL) Up to 5% p.a.
See all 20 lending rates
3. Earn Solana
Once you've chosen a platform to earn your Solana, transfer your Solana into your wallet on the earning platform. Once it's deposited, it will start earning interest. Some platforms pay interest daily, while others do so 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. Ensure your earning platform pays compounding interest to maximise your returns.

Platform	Coin	Cost
Nexo	Solana (SOL)	140.96
PrimeXBT	Solana (SOL)	140.51
EarnPark	Solana (SOL)	139.14
YouHodler	Solana (SOL)	140.71
Binance	Solana (SOL)	140.71
BTSE	Solana (SOL)	140.64

Platform	Coin	Interest rate
Nexo	Solana (SOL)	Up to 8% p.a.
EarnPark	Solana (SOL)	Up to 7% p.a.
YouHodler	Solana (SOL)	Up to 12% p.a.
Bitget	Solana (SOL)	Up to 3.8% p.a.
Blockchain.com	Solana (SOL)	Up to 5% p.a.

What to Be Aware Of

Lending your crypto can be risky. Ensure you do your research before depositing your crypto. Don't lend more than you're prepared to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.

Latest Movements

Solana (SOL) is currently priced at USD 6.51 with a 24-hour trading volume of USD 4.55B. The market cap of Solana stands at USD 91.18B, with 483.75M SOL in circulation. For those looking to buy or trade Solana, Nexo offers avenues to do so securely and efficiently

Market capitalisation: USD 91.18B
24-hour volume: USD 4.55B
Circulating supply: 483.75M SOL

See the latest information

Frequently Asked Questions About Lending Solana (SOL)

What are the current lending rates for Solana (SOL)?: Solana (SOL) offers a variety of lending rates from different platforms. Currently, there are a total of 11 lending rates available. The best lending rate can be found on Nexo, which provides competitive terms for those looking to lend their SOL. It is essential to stay updated on these rates, as they can fluctuate frequently. For real-time comparisons and alerts, consider using Bitcompare to ensure you are getting the best deals available.
How can I find the best lending rates for Solana (SOL)?: To find the best lending rates for Solana (SOL), you can use comparison platforms like Bitcompare, which provide real-time rate comparisons across various lending providers. Currently, there are 11 lending rates available, with Nexo offering the most competitive rate. Regularly checking these rates and setting up email alerts can help you stay informed and make the most advantageous lending decisions for your SOL holdings.
What factors influence the lending rates for Solana (SOL)?: Lending rates for Solana (SOL) are influenced by several factors, including market demand and supply, overall cryptocurrency market trends, and the specific policies of lending platforms. Additionally, the risk assessment of borrowers and the liquidity available on the platform can also affect rates. It is essential to stay updated on these factors through resources like Bitcompare for a comprehensive understanding of the lending landscape for SOL.