How to Lend Reef (REEF) in Australia

Introduction

Lending Reef can be a great option for those who want to hold REEF 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 Reef (REEF) Tokens

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

   Platform	Coin	Cost
   Binance	Reef (REEF)	0.000688
   BingX	Reef (REEF)	0.0004311
   Bitget	Reef (REEF)	0
   Bitmart	Reef (REEF)	0.0003296
   Bitpanda	Reef (REEF)	0
   Bybit	Reef (REEF)	0.0004742

   See all 22 prices

2. 2. Choose a Reef lender

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

   Platform	Coin	Interest rate
   Kucoin	Reef (REEF)	Up to 0.5% p.a.

3. 3. Lend Your Reef

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