Where and How to Lend Polkadot (DOT)

Introduction

Lending Polkadot can be a great option for those who want to hold DOT but earn yield. The steps can be a little 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. Acquire Polkadot (DOT) Tokens

   To be able to lend Polkadot, you need to have it. To get Polkadot, you’ll have to buy it. You can pick from these popular exchanges.

   Platform	Coin	Price
   Nexo	Polkadot (DOT)	6.74
   PrimeXBT	Polkadot (DOT)	6.72
   M2	Polkadot (DOT)	6.72
   Uphold	Polkadot (DOT)	6.72
   EarnPark	Polkadot (DOT)	6.73
   Klink	Polkadot (DOT)	6.73

   See all 35 prices

2. 2. Choose a Polkadot Lender

   Once you have DOT, you’ll need to choose a Polkadot lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   Nexo	Polkadot (DOT)	Up to 15 APY
   YouHodler	Polkadot (DOT)	Up to 16 APY
   EarnPark	Polkadot (DOT)	Up to 12 APY
   Bitget	Polkadot (DOT)	Up to 8.6 APY
   MEXC Global	Polkadot (DOT)	Up to 5 APY
   Blockchain.com	Polkadot (DOT)	Up to 5 APY

   See all 9 borrowing rates

3. 3. Lend Your Polkadot

   Once you’ve chosen a platform to lend your Polkadot, transfer your Polkadot into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are 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. Try to make sure your lending platform pays compounding interest to maximise your returns.

What to be Aware of

Lending your crypto can be risky. Make sure 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.