How to Lend GMX (GMX) in Australia: A Step-by-Step Guide

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. 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) 8.52
PrimeXBT GMX (GMX) 8.5
Binance GMX (GMX) 8.51
OKX GMX (GMX) 8.52
Uphold GMX (GMX) 16.06
BingX GMX (GMX) 8.52
See all 37 prices
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. 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. 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.

Platform	Coin	Cost
Nexo	GMX (GMX)	8.52
PrimeXBT	GMX (GMX)	8.5
Binance	GMX (GMX)	8.51
OKX	GMX (GMX)	8.52
Uphold	GMX (GMX)	16.06
BingX	GMX (GMX)	8.52

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

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.