Where and How to Lend Solana (SOL)

Introduction

Lending Solana can be a great option for those who want to hold SOL but earn yield. The steps can be a little 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. Acquire Solana (SOL) Tokens

   To be able to lend Solana, you need to have it. To get Solana, you’ll have to buy it. You can pick from these popular exchanges.

   Platform	Coin	Price
   Nexo	Solana (SOL)	187.36
   PrimeXBT	Solana (SOL)	187.1
   M2	Solana (SOL)	187.11
   Uphold	Solana (SOL)	187.78
   EarnPark	Solana (SOL)	192.05
   Klink	Solana (SOL)	187.49

   See all 43 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 see some options here.

   Platform	Coin	Interest rate
   Nexo	Solana (SOL)	Up to 8 APY
   YouHodler	Solana (SOL)	Up to 12 APY
   EarnPark	Solana (SOL)	Up to 7 APY
   Bitget	Solana (SOL)	Up to 3.8 APY
   Kucoin	Solana (SOL)	Up to 20 APY

   See all 11 borrowing rates

3. 3. Lend Your Solana

   Once you’ve chosen a platform to lend your Solana, transfer your Solana into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are 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. Try to make sure your lending platform pays compounding interest to maximise your returns.

What to be Aware of

Lending your crypto can be risky. Make sure 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.