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

Introduction

Lending 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 Dai (DAI) Tokens
To lend Dai, you need to possess it. To obtain Dai, you'll need to purchase it. You can choose from these popular exchanges in the UK.
Platform Coin Price
Uphold Dai (DAI) 1
BingX Dai (DAI) 1
View all 26 prices
2. Choose a Dai Lender in the UK
Once you have DAI, you'll need to choose a Dai lending platform to lend your tokens. You can see some options here.
Platform Coin AER
Nexo Dai (DAI) Up to 14% AER
Aave Dai (DAI) Up to 11.64% AER
AQRU Dai (DAI) Up to 6% AER
Bitget Dai (DAI) Up to 5% AER
Blockchain.com Dai (DAI) Up to 3.75% AER
View all 22 loan rates
3. Lend Your Dai
Once you've chosen a platform to lend your Dai, transfer your 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
Uphold	Dai (DAI)	1
BingX	Dai (DAI)	1

Platform	Coin	AER
Nexo	Dai (DAI)	Up to 14% AER
Aave	Dai (DAI)	Up to 11.64% AER
AQRU	Dai (DAI)	Up to 6% AER
Bitget	Dai (DAI)	Up to 5% AER
Blockchain.com	Dai (DAI)	Up to 3.75% 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.