How to Lend Binance-Peg DAI (DAI): A Step-by-Step Guide for the UK

Introduction

Lending Binance-Peg DAI can be an excellent option for those who wish to hold DAI 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 Binance-Peg DAI (DAI) Tokens
To lend Binance-Peg DAI, you need to possess it. To obtain Binance-Peg DAI, you'll need to purchase it. You can choose from these popular exchanges in the UK.
Platform Coin Price
EarnPark Binance-Peg DAI (DAI) 1
YouHodler Binance-Peg DAI (DAI) 1
Kraken Binance-Peg DAI (DAI) 1
OKX Binance-Peg DAI (DAI) 1
Crypto.com Binance-Peg DAI (DAI) 1
Gate.io Binance-Peg DAI (DAI) 1
View all 22 prices
2. Choose a Binance-Peg DAI Lender in the UK
Once you have DAI, you'll need to choose a Binance-Peg DAI lending platform to lend your tokens. You can see some options here.
Platform Coin AER
EarnPark Binance-Peg DAI (DAI) Up to 7% AER
YouHodler Binance-Peg DAI (DAI) Up to 20% AER
SwissBorg Binance-Peg DAI (DAI) Up to 4.81% AER
View all 8 loan rates
3. Lend Your Binance-Peg DAI
Once you've chosen a platform to lend your Binance-Peg DAI, transfer your Binance-Peg DAI into your wallet on the lending platform. Once it's deposited, it will start earning 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 interest. The more you deposit, the more interest you can earn. Try to ensure your lending platform pays compounding interest to maximise your returns.

Platform	Coin	Price
EarnPark	Binance-Peg DAI (DAI)	1
YouHodler	Binance-Peg DAI (DAI)	1
Kraken	Binance-Peg DAI (DAI)	1
OKX	Binance-Peg DAI (DAI)	1
Crypto.com	Binance-Peg DAI (DAI)	1
Gate.io	Binance-Peg DAI (DAI)	1

Platform	Coin	AER
EarnPark	Binance-Peg DAI (DAI)	Up to 7% AER
YouHodler	Binance-Peg DAI (DAI)	Up to 20% AER
SwissBorg	Binance-Peg DAI (DAI)	Up to 4.81% AER

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.