Introduction
Lending Sonic (prev. FTM) can be an excellent option for those who wish to hold S 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 Sonic (prev. FTM) (S) Tokens
To lend Sonic (prev. FTM), you need to possess it. To obtain Sonic (prev. FTM), you'll need to purchase it. You can choose from these popular exchanges in the UK.
2. Choose a Sonic (prev. FTM) Lender in the UK
Once you have S, you'll need to choose a Sonic (prev. FTM) lending platform to lend your tokens. You can see some options here.
Platform Coin AER YouHodler Sonic (prev. FTM) (S) Up to 30% AER Kucoin Sonic (prev. FTM) (S) Up to 4.5% AER 3. Earn Sonic (prev. FTM)
Once you've selected a platform to earn your Sonic (prev. FTM), transfer your Sonic (prev. FTM) 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
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- Market capitalisation
- US$2.05B
- 24-hour volume
- US$3.15M
- Circulating supply
- 3.18B S
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