How to Lend OMG Network (OMG) in Australia

Introduction

Lending OMG Network can be a great option for those who want to hold OMG 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 OMG Network (OMG) Tokens

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

   Platform	Coin	Cost
   YouHodler	OMG Network (OMG)	0.09
   Binance	OMG Network (OMG)	0.38
   Coinbase	OMG Network (OMG)	0.47
   Kraken	OMG Network (OMG)	0.08
   Bitfinex	OMG Network (OMG)	0.18
   Bitget	OMG Network (OMG)	0.12

   See all 32 prices

2. 2. Choose a OMG Network lender

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

   Platform	Coin	Interest rate
   YouHodler	OMG Network (OMG)	Up to 12% p.a.
   Kucoin	OMG Network (OMG)	Up to 0.25% p.a.

   See all 4 lending rates

3. 3. Lend Your OMG Network

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