How to Lend WAX (WAXP) in Australia

Introduction

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

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

   Platform	Coin	Cost
   OKX	WAX (WAXP)	0.02
   Binance	WAX (WAXP)	0.02
   BingX	WAX (WAXP)	0.02
   Bitget	WAX (WAXP)	0.02
   Bitmart	WAX (WAXP)	0.02
   Bitpanda	WAX (WAXP)	0.05

   See all 29 prices

2. 2. Choose a WAX lender

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

   Platform	Coin	Interest rate
   Kucoin	WAX (WAXP)	Up to 0.5% p.a.

3. 3. Lend Your WAX

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