How to Lend Solana (SOL): A Step-by-Step Guide for the UK

Introduction

Lending Solana can be an excellent option for those who wish to hold SOL 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 Solana (SOL) Tokens
To lend Solana, you need to possess it. To obtain Solana, you'll need to purchase it. You can choose from these popular exchanges in the UK.
Platform Coin Price
Nexo Solana (SOL) 124.15
PrimeXBT Solana (SOL) 123.79
EarnPark Solana (SOL) 123.65
YouHodler Solana (SOL) 123.86
Binance Solana (SOL) 123.85
BTSE Solana (SOL) 123.72
View all 84 prices
2. Choose a Solana Lender in the UK
Once you have SOL, you'll need to choose a Solana lending platform to lend your tokens. You can see some options here.
Platform Coin AER
Nexo Solana (SOL) Up to 8% AER
EarnPark Solana (SOL) Up to 7% AER
YouHodler Solana (SOL) Up to 12% AER
Bitget Solana (SOL) Up to 3.8% AER
Blockchain.com Solana (SOL) Up to 5% AER
View all 20 loan rates
3. Lend Your Solana
Once you've chosen a platform to lend your Solana, transfer your Solana 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	Solana (SOL)	124.15
PrimeXBT	Solana (SOL)	123.79
EarnPark	Solana (SOL)	123.65
YouHodler	Solana (SOL)	123.86
Binance	Solana (SOL)	123.85
BTSE	Solana (SOL)	123.72

Platform	Coin	AER
Nexo	Solana (SOL)	Up to 8% AER
EarnPark	Solana (SOL)	Up to 7% AER
YouHodler	Solana (SOL)	Up to 12% AER
Bitget	Solana (SOL)	Up to 3.8% AER
Blockchain.com	Solana (SOL)	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.