How to Lend Sky (SKY) in Australia

Introduction

Lending Sky can be a great option for those who want to hold SKY 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 Sky (SKY) Tokens

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

   Platform	Coin	Cost
   Nexo	Sky (SKY)	0.06
   PrimeXBT	Sky (SKY)	0.06
   YouHodler	Sky (SKY)	0.06
   Binance	Sky (SKY)	0.06
   Coinbase	Sky (SKY)	0.06
   Kraken	Sky (SKY)	0.06

   See all 24 prices

2. 2. Choose a Sky lender

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

   Platform	Coin	Interest rate
   YouHodler	Sky (SKY)	Up to 12% p.a.
   Compound	Sky (SKY)	Up to 1.98% p.a.

3. 3. Lend Your Sky

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