How to Lend Wrapped stETH (WSTETH) in Australia

Introduction

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

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

2. 2. Choose a Wrapped stETH lender

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

   Platform	Coin	Interest rate
   Aave	Wrapped stETH (WSTETH)	Up to 0.45% p.a.
   Compound	Wrapped stETH (WSTETH)	Up to 0.1% p.a.

   See all 21 lending rates

3. 3. Lend Your Wrapped stETH

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