Where and How to Lend Algorand (ALGO)

Introduction

Lending Algorand can be a great option for those who want to hold ALGO but earn yield. The steps can be a little 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. Get Algorand (ALGO) Tokens

   To lend Algorand, you need to have it. To get Algorand, you'll need to buy it. You can choose from these popular exchanges.

   Platform	Loonies	Price
   Nexo	Algorand (ALGO)	0.22
   PrimeXBT	Algorand (ALGO)	0.22
   Uphold	Algorand (ALGO)	0.22
   OKX	Algorand (ALGO)	0.22
   M2	Algorand (ALGO)	0.22
   Binance	Algorand (ALGO)	0.22

   See all 52 prices

2. 2. Choose a Algorand Lender

   Once you have ALGO, you’ll need to choose a Algorand lending platform to lend your tokens. You can see some options here.

   Platform	Loonies	Interest rate
   Nebeus	Algorand (ALGO)	Up to 4.5 annual percentage yield
   Blockchain.com	Algorand (ALGO)	Up to 1 annual percentage yield

3. 3. Lend Your Algorand

   Once you’ve chosen a platform for lending your Algorand, transfer your Algorand into your wallet on the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others pay 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. Try to make sure your lending platform pays compounding interest to maximize your returns.

What to be Aware of

Loaning your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check out their lending practices, reviews, and how they secure your cryptocurrency.