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Introduction

Lending Lido Staked Ether can be an excellent choice for those looking to hold STETH 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 Lido Staked Ether (STETH) Tokens

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

   Platform	Coin	Price
   OKX	Lido Staked Ether (STETH)	2,014.26
   BingX	Lido Staked Ether (STETH)	3,120.19
   Bitget	Lido Staked Ether (STETH)	3,120.31
   Gate.io	Lido Staked Ether (STETH)	3,117.3
   HTX	Lido Staked Ether (STETH)	3,046.4

   See all 12 prices

2. 2. Choose a Lido Staked Ether Lender

   Once you have STETH, you'll need to select a Lido Staked Ether lending platform to lend your tokens. You can explore some options here.

   Platform	Coin	Interest rate
   Bitget	Lido Staked Ether (STETH)	Up to 4.2% APY

3. 3. Earn Lido Staked Ether

   Once you've selected a platform to earn your Lido Staked Ether, transfer your Lido Staked Ether 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.