How to Lend Rocket Pool (RPL) in Australia

Introduction

Lending Rocket Pool can be a great option for those who want to hold RPL 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 Rocket Pool (RPL) Tokens

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

   Platform	Coin	Cost
   Binance	Rocket Pool (RPL)	2.03
   Coinbase	Rocket Pool (RPL)	2.03
   Kraken	Rocket Pool (RPL)	2
   OKX	Rocket Pool (RPL)	5.31
   Uphold	Rocket Pool (RPL)	6.13
   Azbit	Rocket Pool (RPL)	2.02

   See all 46 prices

2. 2. Choose a Rocket Pool lender

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

   Platform	Coin	Interest rate
   Aave	Rocket Pool (RPL)	Up to 2.99% p.a.
   Kucoin	Rocket Pool (RPL)	Up to 0.5% p.a.

   See all 4 lending rates

3. 3. Lend Your Rocket Pool

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