How to Lend Merit Circle (MC) in Australia

Introduction

Lending Merit Circle can be a great option for those who want to hold MC 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 Merit Circle (MC) Tokens

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

   Platform	Coin	Cost
   Binance	Merit Circle (MC)	0.49
   Kraken	Merit Circle (MC)	0.04
   Bitget	Merit Circle (MC)	0.07
   Bitpanda	Merit Circle (MC)	0.48
   Gate.io	Merit Circle (MC)	0.45

   See all 7 prices

2. 2. Choose a Merit Circle lender

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

   Platform	Coin	Interest rate
   Bitget	Merit Circle (MC)	Up to 1% p.a.

3. 3. Lend Your Merit Circle

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