How to Lend Sonic (prev. FTM) (S) in the UK

Introduction

Lending Sonic (prev. FTM) can be an excellent option for those who wish to hold S 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 Sonic (prev. FTM) (S) Tokens

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

   Platform	Coin	Price
   Nexo	Sonic (prev. FTM) (S)	0.09
   PrimeXBT	Sonic (prev. FTM) (S)	0.08
   YouHodler	Sonic (prev. FTM) (S)	0.08
   Binance	Sonic (prev. FTM) (S)	0.08
   Coinbase	Sonic (prev. FTM) (S)	0.08
   Kraken	Sonic (prev. FTM) (S)	0.08

   View all 41 prices

2. 2. Choose a Sonic (prev. FTM) Lender in the UK

   Once you have S, you'll need to choose a Sonic (prev. FTM) lending platform to lend your tokens. You can see some options here.

   Platform	Coin	AER
   YouHodler	Sonic (prev. FTM) (S)	Up to 30% AER
   Kucoin	Sonic (prev. FTM) (S)	Up to 4.5% AER

3. 3. Lend Your Sonic (prev. FTM)

   Once you've chosen a platform to lend your Sonic (prev. FTM), transfer your Sonic (prev. FTM) 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.