How to Lend Shiba Inu (SHIB) in the cryptocurrency market

Introduction

Lending Shiba Inu can be an excellent choice for individuals looking to hold SHIB 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 Shiba Inu (SHIB) Tokens

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

   Platform	Coin	Price
   YouHodler	Shiba Inu (SHIB)	0.000007137 APY
   Binance	Shiba Inu (SHIB)	0.00000713 APY
   BTSE	Shiba Inu (SHIB)	0.00000714 APY
   OKX	Shiba Inu (SHIB)	0.00001234 APY
   Uphold	Shiba Inu (SHIB)	0.00001307 APY
   Bake	Shiba Inu (SHIB)	0.00000712 APY

   View all 42 prices

2. 2. Select a Shiba Inu lending platform

   Once you have SHIB, you'll need to select a Shiba Inu lending platform to lend your tokens. You can explore several options available in the market here.

   Platform	Coin	APY
   YouHodler	Shiba Inu (SHIB)	Up to 16% APY
   CEX.io	Shiba Inu (SHIB)	Up to 1% APY

   View all 6 loan interest rates

3. 3. Lend Your Shiba Inu for attractive APY returns

   After selecting a platform to lend your Shiba Inu, transfer your Shiba Inu 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