How to Lend Filecoin (FIL)

Introduction

Lending Filecoin can be a great option for those who want to hold FIL 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. 1. Obtain Filecoin (FIL) Tokens

   In order to lend Filecoin, you need to have it. To obtain Filecoin, you’ll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   PrimeXBT	Filecoin (FIL)	1,46
   YouHodler	Filecoin (FIL)	1,46
   Binance	Filecoin (FIL)	1,46
   BTSE	Filecoin (FIL)	1,47
   OKX	Filecoin (FIL)	1,46
   Uphold	Filecoin (FIL)	2,66

   See all 46 prices

2. 2. Choose a Filecoin Lender

   Once you have FIL, you’ll need to choose a Filecoin lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   YouHodler	Filecoin (FIL)	Up to 12% APY
   Bitget	Filecoin (FIL)	Up to 4,2% APY
   Gemini	Filecoin (FIL)	Up to 0,01% APY

   See all 5 lending rates

3. 3. Lend Your Filecoin

   Once you’ve chosen a platform to lending your Filecoin, transfer your Filecoin 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. 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.

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.