Earn up to
12% AER
An in-depth guide on how to lend Synthetix Network (SNX) in the UK
We have extensive data on lending Synthetix Network (SNX) and we are pleased to share some of this with you.
We present you with various lending options featuring other cryptocurrencies that may pique your interest.
Synthetix Network (SNX) is currently priced at US$0.23 with a 24-hour trading volume of US$38.11M. The market cap of Synthetix Network stands at US$614.86M, with 339.47M SNX in circulation. For those looking to buy or trade Synthetix Network, YouHodler offers avenues to do so securely and efficiently
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.
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.
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 |
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.
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.
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.
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