How to Lend Pyth Network (PYTH) in Australia

Introduction

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

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

   Platform	Coin	Cost
   PrimeXBT	Pyth Network (PYTH)	0.07
   YouHodler	Pyth Network (PYTH)	0.07
   Binance	Pyth Network (PYTH)	0.07
   BTSE	Pyth Network (PYTH)	0.07
   Coinbase	Pyth Network (PYTH)	0.07
   Kraken	Pyth Network (PYTH)	0.07

   See all 59 prices

2. 2. Choose a Pyth Network lender

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

   Platform	Coin	Interest rate
   YouHodler	Pyth Network (PYTH)	Up to 30% p.a.
   Kucoin	Pyth Network (PYTH)	Up to 0.5% p.a.

   See all 4 lending rates

3. 3. Lend Your Pyth Network

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