How to Lend Wrapped Fantom (WFTM) in Australia

Introduction

Lending Wrapped Fantom can be a great option for those who want to hold WFTM 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 Wrapped Fantom (WFTM) Tokens

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

2. 2. Choose a Wrapped Fantom lender

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

   Platform	Coin	Interest rate
   Aave	Wrapped Fantom (WFTM)	Up to 0.25% p.a.

3. 3. Lend Your Wrapped Fantom

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