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Introduction

Lending Terra can be an excellent choice for those looking to hold LUNA 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 Terra (LUNA) Tokens

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

   Platform	Coin	Price
   YouHodler	Terra (LUNA)	0.09
   Binance	Terra (LUNA)	0.09
   BTSE	Terra (LUNA)	0.09
   Kraken	Terra (LUNA)	0.18
   OKX	Terra (LUNA)	0.15
   BingX	Terra (LUNA)	0.09

   See all 39 prices

2. 2. Choose a Terra Lender

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

   Platform	Coin	Interest rate
   Bitget	Terra (LUNA)	Up to 6.5% APY
   Gemini	Terra (LUNA)	Up to 0.01% APY
   Kucoin	Terra (LUNA)	Up to 5% APY

   See all 5 lending rates

3. 3. Earn Terra

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