How to Lend Binance-Peg DAI (DAI) in Australia

Introduction

Lending Binance-Peg DAI can be a great option for those who want to hold DAI 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 Binance-Peg DAI (DAI) Tokens

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

   Platform	Coin	Cost
   EarnPark	Binance-Peg DAI (DAI)	1
   YouHodler	Binance-Peg DAI (DAI)	1
   Kraken	Binance-Peg DAI (DAI)	1
   OKX	Binance-Peg DAI (DAI)	1
   Crypto.com	Binance-Peg DAI (DAI)	1
   Gate.io	Binance-Peg DAI (DAI)	1

   See all 22 prices

2. 2. Choose a Binance-Peg DAI lender

   Once you have DAI, you'll need to choose a Binance-Peg DAI lending platform to lend your tokens. You can find some options here.

   Platform	Coin	Interest rate
   YouHodler	Binance-Peg DAI (DAI)	Up to 500% p.a.
   EarnPark	Binance-Peg DAI (DAI)	Up to 7% p.a.
   SwissBorg	Binance-Peg DAI (DAI)	Up to 4.81% p.a.

   See all 8 lending rates

3. 3. Lend Your Binance-Peg DAI

   Once you've chosen a platform to lend your Binance-Peg DAI, transfer your Binance-Peg DAI 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.