How to Lend Wrapped Fantom (WFTM) in the UK

Introduction

Lending Wrapped Fantom can be an excellent option for those who wish to hold WFTM 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 Wrapped Fantom (WFTM) Tokens

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

2. 2. Choose a Wrapped Fantom Lender in the UK

   Once you have WFTM, you'll need to choose a Wrapped Fantom lending platform to lend your tokens. You can see some options here.

   Platform	Coin	AER
   Aave	Wrapped Fantom (WFTM)	Up to 0.25% AER

3. 3. Lend Your Wrapped Fantom

   Once you've chosen a platform to lend your Wrapped Fantom, transfer your Wrapped Fantom 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.