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Introduction

Lending Maker can be an excellent choice for those looking to hold MKR 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 Maker (MKR) Tokens

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

   Platform	Coin	Price
   Nexo	Maker (MKR)	2,224.69
   PrimeXBT	Maker (MKR)	1,675.3
   YouHodler	Maker (MKR)	1,813.7
   Binance	Maker (MKR)	1,813.7
   BTSE	Maker (MKR)	1,790.92
   Coinbase	Maker (MKR)	1,386.35

   See all 71 prices

2. 2. Choose a Maker Lender

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

   Platform	Coin	Interest rate
   YouHodler	Maker (MKR)	Up to 12% APY
   Aave	Maker (MKR)	Up to 0.02% APY

   See all 8 lending rates

3. 3. Earn Maker

   Once you've selected a platform to earn your Maker, transfer your Maker 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.