Introduction
Lending GMX can be an excellent option for those who wish to hold GMX 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. Obtain GMX (GMX) Tokens
To lend GMX, you need to possess it. To obtain GMX, you'll need to purchase it. You can choose from these popular exchanges in the UK.
2. Choose a GMX Lender in the UK
Once you have GMX, you'll need to choose a GMX lending platform to lend your tokens. You can see some options here.
3. Earn GMX
Once you've selected a platform to earn your GMX, transfer your GMX 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. 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.
Latest Movements in the UK
GMX (GMX) is currently priced at US$2.5 with a 24-hour trading volume of US$18.51M. The market cap of GMX stands at US$236.11M, with 9.92M GMX in circulation. For those looking to purchase or trade GMX, Bitget offers avenues to do so securely and efficiently
- Market capitalisation
- US$236.11M
- 24-hour volume
- US$18.51M
- Circulating supply
- 9.92M GMX