How to Lend Kusama (KSM) in Australia

Introduction

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

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

   Platform	Coin	Cost
   Nexo	Kusama (KSM)	15.87
   Binance	Kusama (KSM)	11.73
   BTSE	Kusama (KSM)	11.73
   Coinbase	Kusama (KSM)	11.68
   Kraken	Kusama (KSM)	11.7
   OKX	Kusama (KSM)	18.08

   See all 48 prices

2. 2. Choose a Kusama lender

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

   Platform	Coin	Interest rate
   Nexo	Kusama (KSM)	Up to 12% p.a.
   Bitget	Kusama (KSM)	Up to 6% p.a.
   Kucoin	Kusama (KSM)	Up to 6% p.a.

   See all 4 lending rates

3. 3. Lend Your Kusama

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