How to Lend Shiba Inu (SHIB) in Australia: A Step-by-Step Guide

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. 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)	0.000008438
Binance	Shiba Inu (SHIB)	0.00000844
BTSE	Shiba Inu (SHIB)	0.00000846
OKX	Shiba Inu (SHIB)	0.00001234
Uphold	Shiba Inu (SHIB)	0.00001307
Bake	Shiba Inu (SHIB)	0.00000842

See all 42 prices

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. 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. 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.

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

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.