How to Lend Synthetix Network (SNX) in the UK

Introduction

Lending Synthetix Network can be an excellent option for those who wish to hold SNX 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 Synthetix Network (SNX) Tokens

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

   Platform	Coin	Price
   Nexo	Synthetix Network (SNX)	0.66
   YouHodler	Synthetix Network (SNX)	0.66
   Binance	Synthetix Network (SNX)	0.66
   BTSE	Synthetix Network (SNX)	0.66
   Coinbase	Synthetix Network (SNX)	0.66
   Kraken	Synthetix Network (SNX)	0.66

   View all 68 prices

2. 2. Choose a Synthetix Network Lender in the UK

   Once you have SNX, you'll need to choose a Synthetix Network lending platform to lend your tokens. You can see some options here.

   Platform	Coin	AER
   YouHodler	Synthetix Network (SNX)	Up to 12% AER
   Aave	Synthetix Network (SNX)	Up to 0.23% AER
   Bitget	Synthetix Network (SNX)	Up to 1.5% AER
   Blockchain.com	Synthetix Network (SNX)	Up to 15% AER

   View all 11 loan rates

3. 3. Lend Your Synthetix Network

   Once you've chosen a platform to lend your Synthetix Network, transfer your Synthetix Network 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.