How to Lend Polygon (MATIC) in Australia

Introduction

Lending Polygon can be a great option for those who want to hold MATIC 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 Polygon (MATIC) Tokens

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

   Platform	Coin	Cost
   Binance	Polygon (MATIC)	0.38
   Coinbase	Polygon (MATIC)	0.24
   Kraken	Polygon (MATIC)	0.23
   Luno	Polygon (MATIC)	0.6
   BingX	Polygon (MATIC)	0.37

   See all 23 prices

2. 2. Choose a Polygon lender

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

   Platform	Coin	Interest rate
   Nebeus	Polygon (MATIC)	Up to 13% p.a.
   Coinbase	Polygon (MATIC)	Up to 2.91% p.a.
   Gemini	Polygon (MATIC)	Up to 0.01% p.a.
   Kucoin	Polygon (MATIC)	Up to 5% p.a.

   See all 11 lending rates

3. 3. Lend Your Polygon

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