missing en-ng translation: how-to.verb.earn.hero.heading

Introduction

Lending Shiba Inu can be an excellent choice for those looking to hold SHIB 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 Shiba Inu (SHIB) Tokens

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

   Platform	Coin	Price
   YouHodler	Shiba Inu (SHIB)	0.000008438
   Binance	Shiba Inu (SHIB)	0.00000844
   BTSE	Shiba Inu (SHIB)	0.00000846
   OKX	Shiba Inu (SHIB)	0.00001234
   Uphold	Shiba Inu (SHIB)	0.00001307
   Bake	Shiba Inu (SHIB)	0.00000842

   See all 42 prices

2. 2. Choose a Shiba Inu Lender

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

   Platform	Coin	Interest rate
   YouHodler	Shiba Inu (SHIB)	Up to 16% APY
   CEX.io	Shiba Inu (SHIB)	Up to 1% APY

   See all 6 lending rates

3. 3. Earn Shiba Inu

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