Where and How to Lend Wrapped AVAX (WAVAX)

Introduction

Lending Wrapped AVAX can be a great option for those who wish to hold WAVAX 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 Wrapped AVAX (WAVAX) Tokens

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

2. 2. Select a Wrapped AVAX Lender

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

   Platform	Coin	Interest rate
   Aave	Wrapped AVAX (WAVAX)	Up to 1.87 APY

3. 3. Lend Your Wrapped AVAX

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