How to Lend SKALE (SKL) in Australia

Introduction

Lending SKALE can be a great option for those who want to hold SKL 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 SKALE (SKL) Tokens

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

   Platform	Coin	Cost
   Binance	SKALE (SKL)	0.04
   BTSE	SKALE (SKL)	0.04
   Coinbase	SKALE (SKL)	0.04
   OKX	SKALE (SKL)	0.03
   Uphold	SKALE (SKL)	0.02
   Azbit	SKALE (SKL)	0.04

   See all 48 prices

2. 2. Choose a SKALE lender

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

   Platform	Coin	Interest rate
   Bitget	SKALE (SKL)	Up to 1% p.a.
   Gemini	SKALE (SKL)	Up to 0.01% p.a.
   Kucoin	SKALE (SKL)	Up to 0.5% p.a.

   See all 5 lending rates

3. 3. Lend Your SKALE

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