How to Lend Lido Staked Ether (STETH) in Australia

Introduction

Lending Lido Staked Ether can be a great option for those who want to hold STETH 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 Lido Staked Ether (STETH) Tokens

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

   Platform	Coin	Cost
   OKX	Lido Staked Ether (STETH)	2,014.26
   BingX	Lido Staked Ether (STETH)	2,969.73
   Bitget	Lido Staked Ether (STETH)	2,967.54
   Gate.io	Lido Staked Ether (STETH)	2,966.6
   HTX	Lido Staked Ether (STETH)	2,931.51

   See all 12 prices

2. 2. Choose a Lido Staked Ether lender

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

   Platform	Coin	Interest rate
   Bitget	Lido Staked Ether (STETH)	Up to 4.2% p.a.

3. 3. Lend Your Lido Staked Ether

   Once you've chosen a platform to lend your Lido Staked Ether, transfer your Lido Staked Ether 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.