How to Lend GMX (GMX) in Australia

Introduction

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

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

   Platform	Coin	Cost
   Nexo	GMX (GMX)	15.22
   PrimeXBT	GMX (GMX)	16.27
   Uphold	GMX (GMX)	16.06
   OKX	GMX (GMX)	16.29
   Binance	GMX (GMX)	16.28
   BingX	GMX (GMX)	16.29

   See all 36 prices

2. 2. Choose a GMX lender

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

   Platform	Coin	Interest rate
   Bitget	GMX (GMX)	Up to 2.5% p.a.

3. 3. Lend Your GMX

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