Where and How to Earn Synthetix Network (SNX) in Australia

Introduction

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

   To lend Synthetix Network, you need to possess it. To acquire Synthetix Network, you'll need to buy it. You can select from these popular exchanges.

   Platform	Coin	Cost
   Nexo	Synthetix Network (SNX)	0.67
   YouHodler	Synthetix Network (SNX)	0.68
   Binance	Synthetix Network (SNX)	0.67
   BTSE	Synthetix Network (SNX)	0.68
   Coinbase	Synthetix Network (SNX)	0.67
   Kraken	Synthetix Network (SNX)	0.67

   See all 68 prices

2. 2. Choose a Synthetix Network lender

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

   Platform	Coin	Interest rate
   YouHodler	Synthetix Network (SNX)	Up to 12% p.a.
   Aave	Synthetix Network (SNX)	Up to 0.23% p.a.
   Bitget	Synthetix Network (SNX)	Up to 1.5% p.a.
   Blockchain.com	Synthetix Network (SNX)	Up to 1% p.a.

   See all 11 lending rates

3. 3. Earn Synthetix Network

   Once you've chosen a platform to earn your Synthetix Network, transfer your Synthetix Network 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. 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.

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.