How to Lend Loopring (LRC) in Australia

Introduction

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

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

   Platform	Coin	Cost
   Uphold	Loopring (LRC)	0.09
   Kraken	Loopring (LRC)	0.09
   OKX	Loopring (LRC)	0.09
   Binance	Loopring (LRC)	0.09
   BTSE	Loopring (LRC)	0.09
   Coinbase	Loopring (LRC)	0.09

   See all 56 prices

2. 2. Choose a Loopring lender

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

   Platform	Coin	Interest rate
   Gemini	Loopring (LRC)	Up to 0.01% p.a.
   Kucoin	Loopring (LRC)	Up to 0.5% p.a.

   See all 4 lending rates

3. 3. Lend Your Loopring

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