Introduction

Lending Loom Network (NEW) can be an excellent option for those who wish to hold LOOM 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 Loom Network (NEW) (LOOM) Tokens

   To lend Loom Network (NEW), you need to possess it. To obtain Loom Network (NEW), you'll need to purchase it. You can choose from these popular exchanges in the UK.

   Platform	Coin	Price
   Binance	Loom Network (NEW) (LOOM)	0.05
   Uphold	Loom Network (NEW) (LOOM)	0
   BingX	Loom Network (NEW) (LOOM)	0
   Bitget	Loom Network (NEW) (LOOM)	0.02
   Bitmart	Loom Network (NEW) (LOOM)	0
   Bitpanda	Loom Network (NEW) (LOOM)	0.08

   View all 17 prices

2. 2. Choose a Loom Network (NEW) Lender in the UK

   Once you have LOOM, you'll need to choose a Loom Network (NEW) lending platform to lend your tokens. You can see some options here.

3. 3. Lend Your Loom Network (NEW)

   Once you've chosen a platform to lend your Loom Network (NEW), transfer your Loom Network (NEW) 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. 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.

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.