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Introduction

Lending Wrapped XDAI can be an excellent option for those who wish to hold WXDAI 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 Wrapped XDAI (WXDAI) Tokens

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

2. 2. Choose a Wrapped XDAI Lender in the UK

   Once you have WXDAI, you'll need to choose a Wrapped XDAI lending platform to lend your tokens. You can see some options here.

   Platform	Coin	AER
   Aave	Wrapped XDAI (WXDAI)	Up to 5% AER

3. 3. Earn Wrapped XDAI

   Once you've selected a platform to earn your Wrapped XDAI, transfer your Wrapped XDAI 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.