How to Lend Nimiq (NIM) in Australia

Introduction

Lending Nimiq can be a great option for those who want to hold NIM 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 Nimiq (NIM) Tokens

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

   Platform	Coin	Cost
   CoinEx	Nimiq (NIM)	0.0007587
   Gate.io	Nimiq (NIM)	0.0007571
   HTX	Nimiq (NIM)	0
   MEXC Global	Nimiq (NIM)	0.000756

   See all 8 prices

2. 2. Choose a Nimiq lender

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

   Platform	Coin	Interest rate
   Kucoin	Nimiq (NIM)	Up to 16% p.a.

3. 3. Lend Your Nimiq

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