How to Lend 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 0.08% APY
View all 21 loan interest rates
3. Lend Your Wrapped stETH for attractive APY returns
After selecting a platform to lend your Wrapped stETH, transfer your Wrapped stETH 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.