How to Lend Scorum Coin (SCR) in Australia

Introduction

Lending Scorum Coin can be a great option for those who want to hold SCR 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 Scorum Coin (SCR) Tokens

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

   Platform	Coin	Cost
   BTSE	Scorum Coin (SCR)	0.08
   Kucoin	Scorum Coin (SCR)	0.08

   See all 4 prices

2. 2. Choose a Scorum Coin lender

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

   Platform	Coin	Interest rate
   Kucoin	Scorum Coin (SCR)	Up to 1.31% p.a.

3. 3. Lend Your Scorum Coin

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