How to Lend Monero (XMR) in India

Introduction

Lending Monero can be an excellent choice for those looking to hold XMR 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 Monero (XMR) Tokens in India

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

   Platform	Coin	Cost
   Binance	Monero (XMR)	118.7
   BTSE	Monero (XMR)	440.1
   Kraken	Monero (XMR)	442.63
   Azbit	Monero (XMR)	442.78
   BingX	Monero (XMR)	161.9
   Bitfinex	Monero (XMR)	442.6

   See all 27 rates

2. 2. Choose a Monero Lender in India

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

   Platform	Coin	APY
   Kucoin	Monero (XMR)	Up to 0.29% APY

3. 3. Lend Your Monero in India

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