How to Lend Merlin Chain (MERL) in Australia

Introduction

Lending Merlin Chain can be a great option for those who want to hold MERL 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 Merlin Chain (MERL) Tokens

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

   Platform	Coin	Cost
   Kraken	Merlin Chain (MERL)	0.15
   OKX	Merlin Chain (MERL)	0.11
   BTSE	Merlin Chain (MERL)	0.07
   BingX	Merlin Chain (MERL)	0.15
   Bitget	Merlin Chain (MERL)	0.15
   Bitmart	Merlin Chain (MERL)	0.15

   See all 29 prices

2. 2. Choose a Merlin Chain lender

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

   Platform	Coin	Interest rate
   Bitget	Merlin Chain (MERL)	Up to 0.8% p.a.
   Kucoin	Merlin Chain (MERL)	Up to 0.5% p.a.

3. 3. Lend Your Merlin Chain

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