How to Lend UMA (UMA) in Australia

Introduction

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

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

   Platform	Coin	Cost
   Binance	UMA (UMA)	1.32
   Coinbase	UMA (UMA)	1.32
   Kraken	UMA (UMA)	1.32
   OKX	UMA (UMA)	1.4
   Uphold	UMA (UMA)	1.23
   Azbit	UMA (UMA)	1.31

   See all 56 prices

2. 2. Choose a UMA lender

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

   Platform	Coin	Interest rate
   Gemini	UMA (UMA)	Up to 0.01% p.a.
   Kucoin	UMA (UMA)	Up to 0.5% p.a.

   See all 4 lending rates

3. 3. Lend Your UMA

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