How to Lend Shiba Inu (SHIB) in Australia

Introduction

Lending Shiba Inu can be a great option for those who want to hold SHIB 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 Shiba Inu (SHIB) Tokens

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

   Platform	Coin	Cost
   YouHodler	Shiba Inu (SHIB)	0.000007168
   Binance	Shiba Inu (SHIB)	0.00000716
   BTSE	Shiba Inu (SHIB)	0.000007172
   OKX	Shiba Inu (SHIB)	0.00001234
   Uphold	Shiba Inu (SHIB)	0.00001307
   Bake	Shiba Inu (SHIB)	0.00000716

   See all 42 prices

2. 2. Choose a Shiba Inu lender

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

   Platform	Coin	Interest rate
   YouHodler	Shiba Inu (SHIB)	Up to 16% p.a.
   CEX.io	Shiba Inu (SHIB)	Up to 1% p.a.

   See all 6 lending rates

3. 3. Lend Your Shiba Inu

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