How to Lend Balancer (BAL) in Australia

Introduction

Lending Balancer can be a great option for those who want to hold BAL 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 Balancer (BAL) Tokens

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

   Platform	Coin	Cost
   Binance	Balancer (BAL)	0.97
   BTSE	Balancer (BAL)	1.34
   Coinbase	Balancer (BAL)	1.33
   Kraken	Balancer (BAL)	1.35
   OKX	Balancer (BAL)	1.54
   Uphold	Balancer (BAL)	1.09

   See all 49 prices

2. 2. Choose a Balancer lender

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

   Platform	Coin	Interest rate
   Aave	Balancer (BAL)	Up to 1.14% p.a.
   Bitget	Balancer (BAL)	Up to 2% p.a.
   Gemini	Balancer (BAL)	Up to 0.01% p.a.
   Kucoin	Balancer (BAL)	Up to 0.5% p.a.

   See all 7 lending rates

3. 3. Lend Your Balancer

   Once you've chosen a platform to lend your Balancer, transfer your Balancer 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.