How to Lend Polkadot (DOT): A Step-by-Step Guide

Introduction

Lending Polkadot can be a great option for those who want to hold DOT 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 Polkadot (DOT) Tokens
In order to lend Polkadot, you need to have it. To obtain Polkadot, you’ll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Nexo Polkadot (DOT) 2,09
PrimeXBT Polkadot (DOT) 2,08
EarnPark Polkadot (DOT) 2,06
YouHodler Polkadot (DOT) 2,08
Binance Polkadot (DOT) 2,08
BTSE Polkadot (DOT) 2,08
See all 67 prices

Platform	Coin	Price
Nexo	Polkadot (DOT)	2,09
PrimeXBT	Polkadot (DOT)	2,08
EarnPark	Polkadot (DOT)	2,06
YouHodler	Polkadot (DOT)	2,08
Binance	Polkadot (DOT)	2,08
BTSE	Polkadot (DOT)	2,08

2. Choose a Polkadot Lender

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

Platform	Coin	Interest rate
Nexo	Polkadot (DOT)	Up to 15% APY
EarnPark	Polkadot (DOT)	Up to 5,5% APY
YouHodler	Polkadot (DOT)	Up to 16% APY
Bitget	Polkadot (DOT)	Up to 8,6% APY
Blockchain.com	Polkadot (DOT)	Up to 5% APY

See all 16 lending rates

3. Lend Your Polkadot
Once you’ve chosen a platform to lending your Polkadot, transfer your Polkadot 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.

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

Polkadot (DOT) is currently priced at US$10.22 with a 24-hour trading volume of US$318.92M. The market cap of Polkadot stands at US$10.07B, with 1,52B DOT in circulation. For those looking to buy or trade Polkadot, Nexo offers avenues to do so securely and efficiently

Market cap: US$10.07B
24h volume: US$318.92M
Circulating supply: 1,52B DOT

See latest information

Frequently Asked Questions About Lending Polkadot (DOT)

What are the current lending rates for Polkadot (DOT)?: Currently, there are a total of nine lending rates available for Polkadot (DOT). While the average lending rate is not specified, the best lending rate can be found on Bitget. It is essential to stay updated on these rates, as they can fluctuate based on market demand and supply. For real-time comparisons and updates, consider using Bitcompare, which provides valuable insights into Polkadot's lending options.