How to Lend Dai (DAI): A Step-by-Step Guide

Introduction

Lending Dai can be a great option for those who want to hold DAI but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. Obtain Dai (DAI) Tokens
In order to lend Dai, you need to have it. To obtain Dai, you’ll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Uphold Dai (DAI) 1
Bitget Dai (DAI) 1
See all 13 prices
2. Choose a Dai Lender
Once you have DAI, you’ll need to choose a Dai lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate
Nexo Dai (DAI) Up to 14 APY
Bitget Dai (DAI) Up to 5 APY
Aave Dai (DAI) Up to 11,64 APY
Wirex Dai (DAI) Up to 16 APY
Blockchain.com Dai (DAI) Up to 10 APY
See all 10 lending rates
3. Lend Your Dai
Once you’ve chosen a platform to lending your Dai, transfer your Dai into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.
4. Earn Interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compounding interest to maximise your returns.

Platform	Coin	Price
Uphold	Dai (DAI)	1
Bitget	Dai (DAI)	1

Platform	Coin	Interest rate
Nexo	Dai (DAI)	Up to 14 APY
Bitget	Dai (DAI)	Up to 5 APY
Aave	Dai (DAI)	Up to 11,64 APY
Wirex	Dai (DAI)	Up to 16 APY
Blockchain.com	Dai (DAI)	Up to 10 APY

What to be Aware of

Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.

Latest Movements

Dai (DAI) is currently priced at US$4.35 with a 24-hour trading volume of US$90.31M. The market cap of Dai stands at US$3.41B, with US$3.41B DAI in circulation. For those looking to buy or trade Dai, Nexo offers avenues to do so securely and efficiently}

Market cap: US$3.41B
24h volume: US$90.31M
Circulating supply: US$3.41B

See latest information

Frequently Asked Questions About Lending Dai (DAI)

What factors affect Dai lending rates?: Dai lending rates are influenced by market demand and supply, interest rates on various platforms, and overall crypto market trends. Monitoring these elements is key. Bitcompare offers tools such as real-time price comparisons and sentiment analysis to help you stay informed. Check this page regularly for the latest updates and make informed decisions.
How can I compare Dai lending rates across platforms?: Use Bitcompare's real-time price comparison tool to evaluate Dai lending rates from reputable exchanges. This tool provides a clear view of current rates, helping you make educated decisions. Bookmark this page to stay updated with the latest lending trends and maximize your crypto investments.
What is the importance of staying informed about Dai lending rates?: Staying informed helps you take advantage of the best rates and adapt to market changes. Bitcompare provides valuable tools like email alerts and the latest Dai news events to keep you ahead. Regularly checking this page ensures you are making well-informed decisions in the fast-paced crypto market.
How often do Dai lending rates change?: Dai lending rates can change frequently based on market conditions. Keep a close eye on the latest developments using Bitcompare's real-time price comparisons and news updates. Visiting this page regularly will help you stay informed about any rate changes.
Why should I use Bitcompare for monitoring Dai lending rates?: Bitcompare is a trusted crypto comparison platform offering reliable tools like real-time price comparisons and sentiment analysis. With its features, you can stay informed and make timely decisions. Bookmark this page to easily access vital updates and enhance your knowledge of the Dai market.
Are there alerts available for changes in Dai lending rates?: Yes, Bitcompare provides email alerts to notify you of any significant changes in Dai lending rates. These alerts help you stay proactive in managing your crypto portfolio. Make sure to check this page regularly for additional updates and insights.
Where can I find the latest news about Dai lending rates?: Bitcompare offers a comprehensive platform to access the latest Dai news events and market insights. By frequently visiting this page, you'll stay informed about important developments that could affect Dai lending rates, ensuring that you make well-informed decisions.
How can sentiment analysis help with Dai lending rates?: Sentiment analysis can provide insights into market trends and investor attitudes, which can impact Dai lending rates. Bitcompare offers this valuable tool to keep you informed. Regularly checking this page ensures you're abreast of changes, aiding in strategic decision-making.