Where and How to Lend Polkadot (DOT)

Introduction

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

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

   Platform	Loonies	Price
   Nexo	Polkadot (DOT)	4.02
   PrimeXBT	Polkadot (DOT)	4.01
   Uphold	Polkadot (DOT)	4.01
   EarnPark	Polkadot (DOT)	4.06
   OKX	Polkadot (DOT)	4.01
   YouHodler	Polkadot (DOT)	4.01

   See all 67 prices

2. 2. Choose a Polkadot Lender

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

   Platform	Loonies	Interest rate
   Nexo	Polkadot (DOT)	Up to 15 annual percentage yield
   YouHodler	Polkadot (DOT)	Up to 16 annual percentage yield
   EarnPark	Polkadot (DOT)	Up to 12 annual percentage yield
   MEXC Global	Polkadot (DOT)	Up to 5 annual percentage yield
   Bitget	Polkadot (DOT)	Up to 8.6 annual percentage yield
   Blockchain.com	Polkadot (DOT)	Up to 5 annual percentage yield

   See all 16 lending rates

3. 3. Lend Your Polkadot

   Once you’ve chosen a platform for lending your Polkadot, transfer your Polkadot 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.