How to Lend Merlin Chain (MERL) in India

Introduction

Lending Merlin Chain can be an excellent choice for those looking to hold MERL 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. 1. Acquire Merlin Chain (MERL) Tokens in India

   To lend Merlin Chain, you first need to possess it. To acquire Merlin Chain, you'll have to buy it. You can select from these popular Indian exchanges.

   Platform	Coin	Cost
   PrimeXBT	Merlin Chain (MERL)	0.26
   BTSE	Merlin Chain (MERL)	0.26
   Kraken	Merlin Chain (MERL)	0.26
   OKX	Merlin Chain (MERL)	0.11
   BingX	Merlin Chain (MERL)	0.26
   Bitget	Merlin Chain (MERL)	0.26

   See all 32 rates

2. 2. Choose a Merlin Chain Lender in India

   Once you have MERL, you'll need to select an Indian cryptocurrency lending platform to lend your tokens. You can explore some options here.

   Platform	Coin	APY
   Bitget	Merlin Chain (MERL)	Up to 0.8% APY
   Kucoin	Merlin Chain (MERL)	Up to 0.5% APY

3. 3. Lend Your Merlin Chain in India

   Once you've selected a platform to lend your Merlin Chain, transfer your Merlin Chain 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. 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.

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.