How to Lend Wrapped stETH (WSTETH): A Step-by-Step Guide for the UK

Introduction

Lending Wrapped stETH can be an excellent option for those who wish to hold WSTETH 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 Wrapped stETH (WSTETH) Tokens
To lend Wrapped stETH, you need to possess it. To obtain Wrapped stETH, you'll need to purchase it. You can choose from these popular exchanges in the UK.
2. Choose a Wrapped stETH Lender in the UK
Once you have WSTETH, you'll need to choose a Wrapped stETH lending platform to lend your tokens. You can see some options here.
Platform Coin AER
Aave Wrapped stETH (WSTETH) Up to 0.45% AER
Compound Wrapped stETH (WSTETH) Up to 0.39% AER
View all 21 loan rates
3. Lend Your Wrapped stETH
Once you've chosen a platform to lend your Wrapped stETH, transfer your Wrapped stETH 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	AER
Aave	Wrapped stETH (WSTETH)	Up to 0.45% AER
Compound	Wrapped stETH (WSTETH)	Up to 0.39% 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.