How to Lend Sonic (prev. FTM) (S) in India: A Step-by-Step Guide

Introduction

Lending Sonic (prev. FTM) can be an excellent choice for those looking to hold S 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 Sonic (prev. FTM) (S) Tokens in India

To lend Sonic (prev. FTM), you first need to possess it. To acquire Sonic (prev. FTM), you'll have to buy it. You can select from these popular Indian exchanges.

Platform	Coin	Cost
Nexo	Sonic (prev. FTM) (S)	0.07
PrimeXBT	Sonic (prev. FTM) (S)	0.07
YouHodler	Sonic (prev. FTM) (S)	0.07
Binance	Sonic (prev. FTM) (S)	0.07
Coinbase	Sonic (prev. FTM) (S)	0.07
Kraken	Sonic (prev. FTM) (S)	0.07

See all 41 rates

2. Choose a Sonic (prev. FTM) Lender in India
Once you have S, you'll need to select an Indian cryptocurrency lending platform to lend your tokens. You can explore some options here.
Platform Coin APY
YouHodler Sonic (prev. FTM) (S) Up to 30% APY
Kucoin Sonic (prev. FTM) (S) Up to 4.5% APY
3. Lend Your Sonic (prev. FTM) in India
Once you've selected a platform to lend your Sonic (prev. FTM), transfer your Sonic (prev. FTM) 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	APY
YouHodler	Sonic (prev. FTM) (S)	Up to 30% APY
Kucoin	Sonic (prev. FTM) (S)	Up to 4.5% 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.