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Introduction

Lending Coinbase Wrapped BTC can be an excellent choice for those looking to hold CBBTC while earning yield. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide to help you navigate through it smoothly.

Step-by-Step Guide

1. 1. Acquire Coinbase Wrapped BTC (CBBTC) Tokens

   To lend Coinbase Wrapped BTC, you must first acquire it. To obtain Coinbase Wrapped BTC, you'll need to purchase it. You can select from these popular exchanges available in Nigeria.

2. 2. Choose a Coinbase Wrapped BTC Lender

   Once you have CBBTC, you'll need to select a Coinbase Wrapped BTC lending platform to lend your tokens. You can explore some options here.

   Platform	Coin	Interest rate
   Aave	Coinbase Wrapped BTC (CBBTC)	Up to 0% APY
   Compound	Coinbase Wrapped BTC (CBBTC)	Up to 1.98% APY

   See all 4 lending rates

3. 3. Earn Coinbase Wrapped BTC

   Once you've selected a platform to earn your Coinbase Wrapped BTC, transfer your Coinbase Wrapped BTC into your wallet on the earning platform. Once it's deposited, it will begin to earn APY. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn Interest

   Now all you need to do is relax while your cryptocurrency earns interest. The more you deposit, the higher your potential earnings. Ensure that your earning platform offers compounding APY to maximize your returns.

What to be Aware of

Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing your crypto. Only lend what you can afford to lose. Review their lending practices, customer feedback, and the measures they have in place to secure your cryptocurrency.