How to Lend Binance-Peg DAI (DAI) in India: A Step-by-Step Guide

Introduction

Lending Binance-Peg DAI can be an excellent choice for those looking to hold DAI while earning returns. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this comprehensive guide tailored for you.

Step-by-Step Guide for Indian Investors

1. Acquire Binance-Peg DAI (DAI) Tokens in India
To lend Binance-Peg DAI, you first need to possess it. To acquire Binance-Peg DAI, you'll have to buy it. You can select from these popular Indian exchanges.
Platform Coin Cost
EarnPark Binance-Peg DAI (DAI) 1
YouHodler Binance-Peg DAI (DAI) 1
Kraken Binance-Peg DAI (DAI) 1
OKX Binance-Peg DAI (DAI) 1
Crypto.com Binance-Peg DAI (DAI) 1
Gate.io Binance-Peg DAI (DAI) 1
See all 22 rates
2. Choose a Binance-Peg DAI Lender in India
Once you have DAI, you'll need to select an Indian cryptocurrency lending platform to lend your tokens. You can explore some options here.
Platform Coin APY
EarnPark Binance-Peg DAI (DAI) Up to 7% APY
YouHodler Binance-Peg DAI (DAI) Up to 20% APY
SwissBorg Binance-Peg DAI (DAI) Up to 4.81% APY
View all 8 lending rates in India
3. Lend Your Binance-Peg DAI in India
Once you've selected a platform to lend your Binance-Peg DAI, transfer your Binance-Peg DAI into your wallet on the lending platform. After the deposit is made, it will begin to earn APY. Some platforms offer interest payouts daily, while others may do so weekly or monthly.
4. Earn Interest in India
Now all you need to do is relax while your cryptocurrency earns APY. The more you deposit, the higher your potential returns. Ensure that your lending platform offers compounding interest to maximise your earnings.

Platform	Coin	Cost
EarnPark	Binance-Peg DAI (DAI)	1
YouHodler	Binance-Peg DAI (DAI)	1
Kraken	Binance-Peg DAI (DAI)	1
OKX	Binance-Peg DAI (DAI)	1
Crypto.com	Binance-Peg DAI (DAI)	1
Gate.io	Binance-Peg DAI (DAI)	1

Platform	Coin	APY
EarnPark	Binance-Peg DAI (DAI)	Up to 7% APY
YouHodler	Binance-Peg DAI (DAI)	Up to 20% APY
SwissBorg	Binance-Peg DAI (DAI)	Up to 4.81% APY

What to Keep in Mind

Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing your crypto assets. Only lend what you can afford to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.