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Introduction

Lending Wrapped stETH can be an excellent choice for those looking to hold WSTETH 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 Wrapped stETH (WSTETH) Tokens

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

2. 2. Choose a Wrapped stETH Lender

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

   Platform	Coin	Interest rate
   Aave	Wrapped stETH (WSTETH)	Up to 0.45% APY
   Compound	Wrapped stETH (WSTETH)	Up to 1.98% APY

   See all 21 lending rates

3. 3. Earn Wrapped stETH

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