How to Lend Synthetix Network (SNX) in India: A Step-by-Step Guide

Introduction

Lending Synthetix Network can be an excellent choice for those looking to hold SNX 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 Synthetix Network (SNX) Tokens in India

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

Platform	Coin	Cost
Nexo	Synthetix Network (SNX)	0.43
PrimeXBT	Synthetix Network (SNX)	0.43
YouHodler	Synthetix Network (SNX)	0.42
Binance	Synthetix Network (SNX)	0.43
BTSE	Synthetix Network (SNX)	0.43
Coinbase	Synthetix Network (SNX)	0.43

See all 69 rates

2. Choose a Synthetix Network Lender in India
Once you have SNX, you'll need to select an Indian cryptocurrency lending platform to lend your tokens. You can explore some options here.
Platform Coin APY
YouHodler Synthetix Network (SNX) Up to 12% APY
Aave Synthetix Network (SNX) Up to 0.23% APY
Bitget Synthetix Network (SNX) Up to 1.5% APY
Blockchain.com Synthetix Network (SNX) Up to 15% APY
View all 11 lending rates in India
3. Lend Your Synthetix Network in India
Once you've selected a platform to lend your Synthetix Network, transfer your Synthetix Network 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	Synthetix Network (SNX)	Up to 12% APY
Aave	Synthetix Network (SNX)	Up to 0.23% APY
Bitget	Synthetix Network (SNX)	Up to 1.5% APY
Blockchain.com	Synthetix Network (SNX)	Up to 15% 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.