How to Lend Polkadot (DOT): A Step-by-Step Guide for the UK

Introduction

Lending Polkadot can be an excellent option for those who wish to hold DOT 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 Polkadot (DOT) Tokens
To lend Polkadot, you need to possess it. To obtain Polkadot, you'll need to purchase it. You can choose from these popular exchanges in the UK.
Platform Coin Price
Nexo Polkadot (DOT) 1.82
PrimeXBT Polkadot (DOT) 1.82
EarnPark Polkadot (DOT) 1.82
YouHodler Polkadot (DOT) 1.82
Binance Polkadot (DOT) 1.82
BTSE Polkadot (DOT) 1.82
View all 67 prices
2. Choose a Polkadot Lender in the UK
Once you have DOT, you'll need to choose a Polkadot lending platform to lend your tokens. You can see some options here.
Platform Coin AER
Nexo Polkadot (DOT) Up to 15% AER
EarnPark Polkadot (DOT) Up to 5.5% AER
YouHodler Polkadot (DOT) Up to 16% AER
Bitget Polkadot (DOT) Up to 8.6% AER
Blockchain.com Polkadot (DOT) Up to 5% AER
View all 16 loan rates
3. Lend Your Polkadot
Once you've chosen a platform to lend your Polkadot, transfer your Polkadot 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
Nexo	Polkadot (DOT)	1.82
PrimeXBT	Polkadot (DOT)	1.82
EarnPark	Polkadot (DOT)	1.82
YouHodler	Polkadot (DOT)	1.82
Binance	Polkadot (DOT)	1.82
BTSE	Polkadot (DOT)	1.82

Platform	Coin	AER
Nexo	Polkadot (DOT)	Up to 15% AER
EarnPark	Polkadot (DOT)	Up to 5.5% AER
YouHodler	Polkadot (DOT)	Up to 16% AER
Bitget	Polkadot (DOT)	Up to 8.6% AER
Blockchain.com	Polkadot (DOT)	Up to 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.