Introduction

Lending PHOENIX can be an excellent choice for those looking to hold phx while generating a return. The process may seem a bit intimidating, particularly for first-timers. That’s why we’ve created this guide to help you navigate through it.

Step-by-Step Guide for Italian Investors

1. 1. Acquire PHOENIX (phx) Tokens

   To lend PHOENIX, you must first possess it. To acquire PHOENIX, you'll need to buy it. You can select from these well-known exchanges available in Italy.

   Piattaforma	Criptovaluta	Value
   Bitpanda	PHOENIX (phx)	2,11 APY
   Bybit	PHOENIX (phx)	0,28 APY
   CoinEx	PHOENIX (phx)	0,28 APY
   Phemex	PHOENIX (phx)	0,28 APY

   Check out all 7 prices

2. 2. Select a PHOENIX Lender in Italy

   Once you have phx, you'll need to select a PHOENIX lending platform to lend your tokens. You can explore some options here.

3. 3. Lend Your PHOENIX in Italy

   Once you've selected a platform to lend your PHOENIX, transfer your PHOENIX into your wallet on the lending platform. After the deposit is made, it will begin to accrue interest. Some platforms offer interest payments daily, while others do so weekly or monthly.

4. 4. Earn Interest

   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 maximize your earnings.

What to Consider in Italy

Lending your cryptocurrency can involve significant risks