How to Lend Sonic (prev. FTM) (S) in Australia

Introduction

Lending Sonic (prev. FTM) can be a great option for those who want to hold S 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 Sonic (prev. FTM) (S) Tokens

   To lend Sonic (prev. FTM), you need to possess it. To acquire Sonic (prev. FTM), you'll need to buy it. You can select from these popular exchanges.

   Platform	Coin	Cost
   Nexo	Sonic (prev. FTM) (S)	0.07
   PrimeXBT	Sonic (prev. FTM) (S)	0.07
   YouHodler	Sonic (prev. FTM) (S)	0.07
   Binance	Sonic (prev. FTM) (S)	0.07
   Coinbase	Sonic (prev. FTM) (S)	0.07
   Kraken	Sonic (prev. FTM) (S)	0.07

   See all 41 prices

2. 2. Choose a Sonic (prev. FTM) lender

   Once you have S, you'll need to choose a Sonic (prev. FTM) lending platform to lend your tokens. You can find some options here.

   Platform	Coin	Interest rate
   YouHodler	Sonic (prev. FTM) (S)	Up to 30% p.a.
   Kucoin	Sonic (prev. FTM) (S)	Up to 4.5% p.a.

3. 3. Lend Your Sonic (prev. FTM)

   Once you've chosen a platform to lend your Sonic (prev. FTM), transfer your Sonic (prev. FTM) 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.