How to Lend Frax (FRAX): A Step-by-Step Guide for the UK

Introduction

Lending Frax can be an excellent option for those who wish to hold FRAX 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 Frax (FRAX) Tokens
To lend Frax, you need to possess it. To obtain Frax, you'll need to purchase it. You can choose from these popular exchanges in the UK.
Platform Coin Price
Uphold Frax (FRAX) 1
FMFW.io Frax (FRAX) 0.5
Gate.io Frax (FRAX) 0.66
View all 5 prices
2. Choose a Frax Lender in the UK
Once you have FRAX, you'll need to choose a Frax lending platform to lend your tokens. You can see some options here.
Platform Coin AER
Aave Frax (FRAX) Up to 4.5% AER
3. Lend Your Frax
Once you've chosen a platform to lend your Frax, transfer your Frax 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	Frax (FRAX)	1
FMFW.io	Frax (FRAX)	0.5
Gate.io	Frax (FRAX)	0.66

Platform	Coin	AER
Aave	Frax (FRAX)	Up to 4.5% 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.