Where and How to Lend Polkadot (DOT)

Introduction

Lending Polkadot can be a great option for those who wish to hold DOT 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 Polkadot (DOT) Tokens

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

   Platform	Coin	Price
   Nexo	Polkadot (DOT)	5.31
   Bitpanda	Polkadot (DOT)	5.80
   Uphold	Polkadot (DOT)	5.78
   EarnPark	Polkadot (DOT)	5.87
   Klink	Polkadot (DOT)	5.83
   PrimeXBT	Polkadot (DOT)	5.78

   See all 29 prices

2. 2. Select a Polkadot Lender

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

   Platform	Coin	Interest rate
   Nexo	Polkadot (DOT)	Up to 15.00 APY
   YouHodler	Polkadot (DOT)	Up to 16.00 APY
   EarnPark	Polkadot (DOT)	Up to 12.00 APY
   MEXC Global	Polkadot (DOT)	Up to 5.00 APY
   Bitget	Polkadot (DOT)	Up to 8.60 APY

   See all 11 lending rates

3. 3. Lend Your Polkadot

   After you have selected a platform for lending your Polkadot, transfer your Polkadot 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.