Where and How to Lend Synthetix Network (SNX)

Introduction

Lending Synthetix Network can be a great option for those who wish to hold SNX 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 Synthetix Network (SNX) Tokens

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

   Platform	Coin	Price
   Nexo	Synthetix Network (SNX)	1.79
   Bitpanda	Synthetix Network (SNX)	1.8
   Uphold	Synthetix Network (SNX)	1.8
   Kraken	Synthetix Network (SNX)	1.79
   OKX	Synthetix Network (SNX)	1.79
   YouHodler	Synthetix Network (SNX)	1.8

   See all 28 prices

2. 2. Select a Synthetix Network Lender

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

   Platform	Coin	Interest rate
   YouHodler	Synthetix Network (SNX)	Up to 12 APY
   Bitget	Synthetix Network (SNX)	Up to 1.5 APY
   Kucoin	Synthetix Network (SNX)	Up to 0.22 APY

   See all 7 lending rates

3. 3. Lend Your Synthetix Network

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