How to Lend Internet Computer (ICP) in Australia

Introduction

Lending Internet Computer can be a great option for those who want to hold ICP 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 Internet Computer (ICP) Tokens

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

   Platform	Coin	Cost
   PrimeXBT	Internet Computer (ICP)	3.16
   YouHodler	Internet Computer (ICP)	3.16
   Binance	Internet Computer (ICP)	3.17
   Coinbase	Internet Computer (ICP)	3.16
   Kraken	Internet Computer (ICP)	3.16
   OKX	Internet Computer (ICP)	5.15

   See all 54 prices

2. 2. Choose a Internet Computer lender

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

   Platform	Coin	Interest rate
   Kucoin	Internet Computer (ICP)	Up to 0.5% p.a.

3. 3. Lend Your Internet Computer

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