Introduction

Lending Loom Network (NEW) can be an excellent choice for individuals looking to hold LOOM 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. 1. Acquire Loom Network (NEW) (LOOM) Tokens

   To lend Loom Network (NEW), you must first possess it. To acquire Loom Network (NEW), you will need to buy it. You can select from these well-known exchanges that are popular in the Chinese market.

   Platform	Coin	Price
   Binance	Loom Network (NEW) (LOOM)	0.05 APY
   Uphold	Loom Network (NEW) (LOOM)	0 APY
   BingX	Loom Network (NEW) (LOOM)	0 APY
   Bitget	Loom Network (NEW) (LOOM)	0.02 APY
   Bitmart	Loom Network (NEW) (LOOM)	0 APY
   Bitpanda	Loom Network (NEW) (LOOM)	0.08 APY

   View all 17 prices

2. 2. Select a Loom Network (NEW) lending platform

   Once you have LOOM, you'll need to select a Loom Network (NEW) lending platform to lend your tokens. You can explore several options available in the market here.

3. 3. Lend Your Loom Network (NEW) for attractive APY returns

   After selecting a platform to lend your Loom Network (NEW), transfer your Loom Network (NEW) into your wallet on the lending platform. Once the deposit is completed, it will begin to accrue APY. Some platforms offer daily interest payouts, while others may provide interest on a weekly or monthly basis.

4. 4. Earn APY on Your Assets

   Now all you need to do is relax while your cryptocurrency earns APY. The more you deposit, the higher your potential returns. Ensure that your lending platform offers compounding APY to maximize your earnings.

What to Consider in the Chinese Market

Lending your cryptocurrency can involve significant risks