How to Lend Synthetix Network (SNX)

Introduction

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

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

   Piattaforma	Criptovaluta	Value
   Nexo	Synthetix Network (SNX)	0.67 APY
   YouHodler	Synthetix Network (SNX)	0.67 APY
   Binance	Synthetix Network (SNX)	0.67 APY
   BTSE	Synthetix Network (SNX)	0.67 APY
   Coinbase	Synthetix Network (SNX)	0.67 APY
   Kraken	Synthetix Network (SNX)	0.67 APY

   Check out all 68 prices

2. 2. Select a Synthetix Network Lender in Italy

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

   Piattaforma	Criptovaluta	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 1% APY

   Discover all 11 lending APY rates

3. 3. Lend Your Synthetix Network in Italy

   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 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