Introduction

Lending Loom Network (NEW) can be an excellent choice for those looking to hold LOOM while earning APY. The process may seem a bit overwhelming, particularly for first-time users. That's why we've created this guide to assist you.

Step-by-Step Anleitung

1. 1. Acquire Loom Network (NEW) (LOOM) Tokens

   To lend Loom Network (NEW), you first need to possess it. To acquire Loom Network (NEW), you'll have to buy it. You can select from these well-known exchanges.

   Plattform	Kryptowährung	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) provider

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

3. 3. Lend Your Loom Network (NEW) in Germany

   Once you've selected a platform to lend your Loom Network (NEW), transfer your Loom Network (NEW) into your wallet on the lending platform. Once it's deposited, it will begin to accrue APY. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn Interest

   Now all you need to do is sit back while your cryptocurrency earns interest. The more you deposit, the more interest you can earn. Make sure your lending platform offers compounding interest to maximize your returns.

What to Consider

Lending your crypto can be risky. Ensure you conduct thorough research before depositing your crypto. Don't lend more than you're prepared to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.