How to Lend Binance-Peg Filecoin (FIL) in Australia

Introduction

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

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

   Platform	Coin	Cost
   Coinbase	Binance-Peg Filecoin (FIL)	1.46
   Kraken	Binance-Peg Filecoin (FIL)	1.46
   Azbit	Binance-Peg Filecoin (FIL)	1.46
   Bybit	Binance-Peg Filecoin (FIL)	1.47
   CoinEx	Binance-Peg Filecoin (FIL)	1.46
   CoinW	Binance-Peg Filecoin (FIL)	1.47

   See all 17 prices

2. 2. Choose a Binance-Peg Filecoin lender

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

   Platform	Coin	Interest rate
   Kucoin	Binance-Peg Filecoin (FIL)	Up to 0.5% p.a.

3. 3. Lend Your Binance-Peg Filecoin

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