How to Lend Dai (DAI): A Step-by-Step Guide

Introduction

Lending Dai can be a great option for those who want to hold DAI but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. Obtain Dai (DAI) Tokens
In order to lend Dai, you need to have it. To obtain Dai, you’ll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Uphold Dai (DAI) 1
Bitget Dai (DAI) 1
See all 13 prices
2. Choose a Dai Lender
Once you have DAI, you’ll need to choose a Dai lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate
Nexo Dai (DAI) Up to 14 APY
Bitget Dai (DAI) Up to 5 APY
Aave Dai (DAI) Up to 11.64 APY
Wirex Dai (DAI) Up to 16 APY
Blockchain.com Dai (DAI) Up to 10 APY
See all 10 lending rates
3. Lend Your Dai
Once you’ve chosen a platform to lending your Dai, transfer your Dai into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.
4. Earn Interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compounding interest to maximise your returns.

Platform	Coin	Price
Uphold	Dai (DAI)	1
Bitget	Dai (DAI)	1

Platform	Coin	Interest rate
Nexo	Dai (DAI)	Up to 14 APY
Bitget	Dai (DAI)	Up to 5 APY
Aave	Dai (DAI)	Up to 11.64 APY
Wirex	Dai (DAI)	Up to 16 APY
Blockchain.com	Dai (DAI)	Up to 10 APY

What to be Aware of

Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.

Latest Movements

Dai (DAI) is currently priced at $0.01 with a 24-hour trading volume of $95.79M. The market cap of Dai stands at $3.4B, with $3.4B DAI in circulation. For those looking to buy or trade Dai, Nexo offers avenues to do so securely and efficiently}

Market cap: $3.4B
24h volume: $95.79M
Circulating supply: $3.4B

See latest information

Frequently Asked Questions About Lending Dai (DAI)

What is Dai (DAI) lending rate?: The Dai lending rate is the interest rate you receive when you lend out DAI on various platforms. Rates can vary depending on the platform and market conditions. Stay informed using Bitcompare's real-time price comparisons and email alerts.
How can I find the best Dai lending rates?: To find the best Dai lending rates, use Bitcompare's tools which offer real-time comparisons across reputable exchanges. Bookmark the page and check regularly to catch the best rates and make informed decisions.
Why do Dai lending rates change?: Dai lending rates fluctuate due to supply and demand dynamics, market sentiment, and platform-specific policies. Keep track with Bitcompare's sentiment analysis and latest Dai news events to understand these changes.
Are Dai lending rates the same on all platforms?: Dai lending rates can differ across platforms based on their policies and the current market environment. Utilize Bitcompare to assess the rates across various platforms and select the most advantageous one for you.
Can I receive alerts for changes in Dai lending rates?: Yes, you can use Bitcompare's email alert feature to get notified about changes in Dai lending rates. This helps you stay updated and make timely decisions in the dynamic crypto market.
Where can I get the latest updates on Dai lending rates?: For the latest updates on Dai lending rates, rely on Bitcompare's tools and resources. Check the page frequently and utilize their real-time comparisons and news events to stay informed.
How important is staying updated on Dai lending rates?: Staying updated is crucial as Dai lending rates can fluctuate. Regularly check Bitcompare for updates, comparisons, and market sentiment to ensure you are making informed decisions in the crypto market.
What factors influence Dai lending rates?: Factors impacting Dai lending rates include market demand, platform policies, and economic conditions. Bitcompare's sentiment analysis can help you understand these elements better to stay informed.