How to Earn Wrapped stETH (WSTETH): A Comprehensive Guide for Chinese Investors

Introduction

Lending Wrapped stETH can be an excellent choice for individuals looking to hold WSTETH while earning an attractive APY. The process may seem a bit overwhelming, particularly for first-time users. To simplify this experience, we have created this comprehensive guide tailored for you.

Step-by-Step Guide

1. Acquire Wrapped stETH (WSTETH) Tokens
To lend Wrapped stETH, you must first possess it. To acquire Wrapped stETH, you will need to buy it. You can select from these well-known exchanges that are popular in the Chinese market.
2. Select a Wrapped stETH lending platform
Once you have WSTETH, you'll need to select a Wrapped stETH lending platform to lend your tokens. You can explore several options available in the market here.
Platform Coin APY
Aave Wrapped stETH (WSTETH) Up to 0.45% APY
Compound Wrapped stETH (WSTETH) Up to 0.32% APY
View all 21 loan interest rates
3. Earn Wrapped stETH
Once you've selected a platform to earn your Wrapped stETH, transfer your Wrapped stETH into your wallet on the earning platform. After the deposit is completed, it will begin to accrue interest. Some platforms offer interest payments daily, while others may do so weekly or monthly.
4. Earn APY on Your Assets
Now all you need to do is relax while your cryptocurrency earns APY. The more you deposit, the greater your potential earnings. Be sure to choose a platform that offers compounding interest to maximize your returns.