How to Lend Solana (SOL) in Australia

Introduction

Lending Solana can be a great option for those who want to hold SOL 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 Solana (SOL) Tokens

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

   Platform	Coin	Cost
   Nexo	Solana (SOL)	140.96
   PrimeXBT	Solana (SOL)	140.51
   EarnPark	Solana (SOL)	139.14
   YouHodler	Solana (SOL)	140.71
   Binance	Solana (SOL)	140.71
   BTSE	Solana (SOL)	140.64

   See all 84 prices

2. 2. Choose a Solana lender

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

   Platform	Coin	Interest rate
   Nexo	Solana (SOL)	Up to 8% p.a.
   EarnPark	Solana (SOL)	Up to 7% p.a.
   YouHodler	Solana (SOL)	Up to 12% p.a.
   Bitget	Solana (SOL)	Up to 3.8% p.a.
   Blockchain.com	Solana (SOL)	Up to 5% p.a.

   See all 20 lending rates

3. 3. Lend Your Solana

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