Introduction
Lending NEM can be an excellent choice for individuals looking to hold XEM 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 NEM (XEM) Tokens
To lend NEM, you must first possess it. To acquire NEM, you will need to buy it. You can select from these well-known exchanges that are popular in the Chinese market.
2. Select a NEM lending platform
Once you have XEM, you'll need to select a NEM lending platform to lend your tokens. You can explore several options available in the market here.
3. Lend Your NEM for attractive APY returns
After selecting a platform to lend your NEM, transfer your NEM 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. 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
Recent Developments
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