How to Lend Aave YFI (AYFI) in Australia

Introduction

Lending Aave YFI can be a great option for those who want to hold AYFI 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 Aave YFI (AYFI) Tokens

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

2. 2. Choose a Aave YFI lender

   Once you have AYFI, you'll need to choose a Aave YFI lending platform to lend your tokens. You can find some options here.

   Platform	Coin	Interest rate
   Aave	Aave YFI (AYFI)	Up to 0.000002377% p.a.

3. 3. Lend Your Aave YFI

   Once you've chosen a platform to lend your Aave YFI, transfer your Aave YFI into your wallet on the lending 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 lending 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 willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.