Introduction

Lending PHOENIX can be a great option for those who want to hold phx 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 PHOENIX (phx) Tokens

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

   Platform	Coin	Cost
   Bitpanda	PHOENIX (phx)	2.11
   Bybit	PHOENIX (phx)	0.28
   CoinEx	PHOENIX (phx)	0.28
   Phemex	PHOENIX (phx)	0.28

   See all 7 prices

2. 2. Choose a PHOENIX lender

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

3. 3. Lend Your PHOENIX

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