Introduction
Lending Binance-Peg Bitcoin Cash can be a great option for those who want to hold BCH 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 Binance-Peg Bitcoin Cash (BCH) Tokens
To lend Binance-Peg Bitcoin Cash, you need to possess it. To acquire Binance-Peg Bitcoin Cash, you'll need to buy it. You can select from these popular exchanges.
2. Choose a Binance-Peg Bitcoin Cash lender
Once you have BCH, you'll need to choose a Binance-Peg Bitcoin Cash lending platform to lend your tokens. You can find some options here.
Platform Coin Interest rate Kucoin Binance-Peg Bitcoin Cash (BCH) Up to 0.5% p.a. 3. Lend Your Binance-Peg Bitcoin Cash
Once you've chosen a platform to lend your Binance-Peg Bitcoin Cash, transfer your Binance-Peg Bitcoin Cash 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. 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.
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