How to Lend GALA (GALA) in Australia

Introduction

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

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

   Platform	Coin	Cost
   PrimeXBT	GALA (GALA)	0.01
   YouHodler	GALA (GALA)	0.01
   Binance	GALA (GALA)	0.01
   BTSE	GALA (GALA)	0.01
   Coinbase	GALA (GALA)	0.04
   Kraken	GALA (GALA)	0.01

   See all 61 prices

2. 2. Choose a GALA lender

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

   Platform	Coin	Interest rate
   YouHodler	GALA (GALA)	Up to 12% p.a.
   Blockchain.com	GALA (GALA)	Up to 1% p.a.

   See all 6 lending rates

3. 3. Lend Your GALA

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