Where and How to Lend Algorand (ALGO)

Introduction

Lending Algorand can be a great option for those who wish to hold ALGO but earn interest. The steps can be a bit intimidating, especially the first time you attempt them. That's why we have compiled this guide for you.

Step-by-Step Guide

1. 1. Acquire Algorand (ALGO) Tokens

   To lend Algorand, you need to have it. To obtain Algorand, you’ll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	Algorand (ALGO)	0.15
   Bitpanda	Algorand (ALGO)	0.21
   Uphold	Algorand (ALGO)	0.21
   PrimeXBT	Algorand (ALGO)	0.21
   Kraken	Algorand (ALGO)	0.15
   OKX	Algorand (ALGO)	0.21

   See all 21 prices

2. 2. Select a Algorand Lender

   Once you have ALGO, you’ll need to choose a Algorand lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   Nebeus	Algorand (ALGO)	Up to 4.50 APY
   OKX	Algorand (ALGO)	Up to 1.00 APY

3. 3. Lend Your Algorand

   After you have selected a platform for lending your Algorand, transfer your Algorand into your wallet on the lending platform. Once it is deposited, it will begin earning interest. Some platforms pay interest on a daily basis, while others do so weekly or monthly.

4. 4. Earn Interest

   Now all you have to do is relax while your crypto earns interest. The more you deposit, the more interest you can earn. Make sure your lending platform pays compounding interest to maximise your returns.

What to Keep in Mind

Lending your crypto can be risky. Ensure that you do your research before depositing your crypto. Don’t lend more than you’re prepared to lose. Verify their lending practices, reviews, and how they secure your cryptocurrency.