How to Lend xMoney (utk) in Australia

Introduction

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

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

   Platform	Coin	Cost
   Binance	xMoney (utk)	0.01
   BingX	xMoney (utk)	0.03
   Bitmart	xMoney (utk)	0.03
   Bitpanda	xMoney (utk)	0.05
   CoinEx	xMoney (utk)	0.03
   FMFW.io	xMoney (utk)	0.02

   See all 27 prices

2. 2. Choose a xMoney lender

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

   Platform	Coin	Interest rate
   Kucoin	xMoney (utk)	Up to 0.5% p.a.

3. 3. Lend Your xMoney

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