How to Lend WETH (WETH) in Australia

Introduction

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

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

2. 2. Choose a WETH lender

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

   Platform	Coin	Interest rate
   Aave	WETH (WETH)	Up to 2.03% p.a.
   Compound	WETH (WETH)	Up to 1.98% p.a.

   See all 32 lending rates

3. 3. Lend Your WETH

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