Where and How to Lend dYdX (Wormhole) (DYDX)

Introduction

Lending dYdX (Wormhole) can be a great option for those who want to hold DYDX but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. 1. Obtain dYdX (Wormhole) (DYDX) Tokens

   To lend dYdX (Wormhole), you need to have it. To acquire dYdX (Wormhole), you’ll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	dYdX (Wormhole) (DYDX)	1.08
   Uphold	dYdX (Wormhole) (DYDX)	1.08
   Kraken	dYdX (Wormhole) (DYDX)	1.08
   OKX	dYdX (Wormhole) (DYDX)	1.09
   Binance	dYdX (Wormhole) (DYDX)	1.08
   BTSE	dYdX (Wormhole) (DYDX)	1.08

   See all 46 prices

2. 2. Choose a dYdX (Wormhole) Lender

   Once you have DYDX, you’ll need to choose a dYdX (Wormhole) lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   Kucoin	dYdX (Wormhole) (DYDX)	Up to 0.5 AER
   MEXC Global	dYdX (Wormhole) (DYDX)	Up to 0.8 AER

   See all 4 lending rates

3. 3. Lend Your dYdX (Wormhole)

   Once you’ve chosen a platform to lend your dYdX (Wormhole), transfer your dYdX (Wormhole) into your wallet on the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.

4. 4. Earn Interest

   Now all you need to do is sit back whilst your crypto earns interest. The more you deposit, the more interest you can earn. Try to ensure your lending platform pays compound interest to maximise your returns.

What to be Aware of

Lending your crypto can be risky. Ensure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.