How to Lend yearn.finance (YFI) in the UK

Introduction

Lending yearn.finance can be an excellent option for those who wish to hold YFI 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 yearn.finance (YFI) Tokens

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

   Platform	Coin	Price
   Nexo	yearn.finance (YFI)	3,376.93
   YouHodler	yearn.finance (YFI)	3,373.31
   Binance	yearn.finance (YFI)	3,376
   BTSE	yearn.finance (YFI)	3,375.79
   Coinbase	yearn.finance (YFI)	3,375.16
   Kraken	yearn.finance (YFI)	3,370

   View all 62 prices

2. 2. Choose a yearn.finance Lender in the UK

   Once you have YFI, you'll need to choose a yearn.finance lending platform to lend your tokens. You can see some options here.

   Platform	Coin	AER
   YouHodler	yearn.finance (YFI)	Up to 12% AER
   Blockchain.com	yearn.finance (YFI)	Up to 1% AER

   View all 8 loan rates

3. 3. Lend Your yearn.finance

   Once you've chosen a platform to lend your yearn.finance, transfer your yearn.finance 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.