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Introduction

Lending Filecoin can be an excellent option for those who wish to hold FIL while earning a yield. The steps may seem a bit daunting, particularly the first time you undertake them. That's why we've compiled this guide for you.

Step-by-Step Guide

1. 1. Obtain Filecoin (FIL) Tokens

   To lend Filecoin, you need to possess it. To obtain Filecoin, you'll need to purchase it. You can choose from these popular exchanges in the UK.

   Platform	Coin	Price
   PrimeXBT	Filecoin (FIL)	1.32
   YouHodler	Filecoin (FIL)	1.32
   Binance	Filecoin (FIL)	1.32
   BTSE	Filecoin (FIL)	1.32
   OKX	Filecoin (FIL)	1.32
   Uphold	Filecoin (FIL)	2.66

   View all 46 prices

2. 2. Choose a Filecoin Lender in the UK

   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	AER
   YouHodler	Filecoin (FIL)	Up to 12% AER
   Bitget	Filecoin (FIL)	Up to 4.2% AER
   Gemini	Filecoin (FIL)	Up to 0.01% AER

   View all 5 loan rates

3. 3. Earn Filecoin

   Once you've selected a platform to earn your Filecoin, transfer your Filecoin into your wallet on the earning platform. Once it's deposited, it will begin to accrue AER. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn AER

   Now all you need to do is sit back while your cryptocurrency earns AER. The more you deposit, the more interest you can earn. Ensure that your earning platform pays compounding interest to maximise your returns.

What to Be Aware Of

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