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 $4.35 with a 24-hour trading volume of $103.99M. The market cap of Dai stands at $3.41B, with $3.41B DAI in circulation. For those looking to buy or trade Dai, Nexo offers avenues to do so securely and efficiently}

Market cap: $3.41B
24h volume: $103.99M
Circulating supply: $3.41B

See latest information

Frequently Asked Questions About Lending Dai (DAI)

What is the current Dai lending rate?: Dai lending rates can fluctuate based on market conditions. For the latest rates, check Bitcompare for real-time price comparisons and stay informed of changes. Remember to bookmark this page for quick access to updates.
How do I know if the Dai lending rate is favorable?: By using tools like sentiment analysis on Bitcompare, you can assess market conditions. Keep track of the latest Dai news events and set email alerts to stay updated on favorable rates.
Are Dai lending rates different across platforms?: Yes, lending rates can vary among different exchanges. Utilize Bitcompare's trusted comparisons and real-time data to find the most reputable platforms offering competitive rates.
Can Dai lending rates change overnight?: Lending rates can shift rapidly due to market volatility. Bitcompare provides real-time data and alerts to help you stay informed of any overnight changes that may occur.
How can I track changes in Dai lending rates?: Set up email alerts and bookmark this page on Bitcompare to receive timely updates. This will ensure you are aware of any changes in Dai lending rates as they happen.
Why is it important to stay updated on Dai lending rates?: Staying informed allows you to make well-timed borrowing or lending decisions in the dynamic crypto market. Bitcompare's tools help you keep track of rates and market sentiments.
How often should I check for updates on Dai lending rates?: Regular checks are recommended due to the market's dynamic nature. Utilize Bitcompare's features and bookmark their page to easily access the latest updates and make informed decisions.