How to Lend Polymesh (POLYX) in Australia: A Step-by-Step Guide

Introduction

Lending Polymesh can be a great option for those who want to hold POLYX 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. Obtain Polymesh (POLYX) Tokens
To lend Polymesh, you need to possess it. To acquire Polymesh, you'll need to buy it. You can select from these popular exchanges.
Platform Coin Cost
PrimeXBT Polymesh (POLYX) 0.06
Binance Polymesh (POLYX) 0.06
BingX Polymesh (POLYX) 0.06
Bitget Polymesh (POLYX) 0.06
Bitmart Polymesh (POLYX) 0.06
Bitpanda Polymesh (POLYX) 0.36
See all 25 prices
2. Choose a Polymesh lender
Once you have POLYX, you'll need to choose a Polymesh lending platform to lend your tokens. You can find some options here.
Platform Coin Interest rate
Kucoin Polymesh (POLYX) Up to 0.5% p.a.
3. Lend Your Polymesh
Once you've chosen a platform to lend your Polymesh, transfer your Polymesh 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. 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.

Platform	Coin	Cost
PrimeXBT	Polymesh (POLYX)	0.06
Binance	Polymesh (POLYX)	0.06
BingX	Polymesh (POLYX)	0.06
Bitget	Polymesh (POLYX)	0.06
Bitmart	Polymesh (POLYX)	0.06
Bitpanda	Polymesh (POLYX)	0.36

Platform	Coin	Interest rate
Kucoin	Polymesh (POLYX)	Up to 0.5% p.a.

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.