How to Lend Dai (DAI): A Step-by-Step Guide

Introduction

Lending Dai can be a great option for those who want to hold DAI but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. Obtain Dai (DAI) Tokens
In order to lend Dai, you need to have it. To obtain Dai, you’ll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Uphold Dai (DAI) 1
Bitget Dai (DAI) 1
See all 25 prices
2. Choose a Dai Lender
Once you have DAI, you’ll need to choose a Dai lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate
Nexo Dai (DAI) Up to 14 APY
Aave Dai (DAI) Up to 11.64 APY
Bitget Dai (DAI) Up to 5 APY
Blockchain.com Dai (DAI) Up to 10 APY
Wirex Dai (DAI) Up to 16 APY
See all 18 lending rates
3. Lend Your Dai
Once you’ve chosen a platform to lending your Dai, transfer your Dai into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.
4. Earn Interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compounding interest to maximise your returns.

Platform	Coin	Price
Uphold	Dai (DAI)	1
Bitget	Dai (DAI)	1

Platform	Coin	Interest rate
Nexo	Dai (DAI)	Up to 14 APY
Aave	Dai (DAI)	Up to 11.64 APY
Bitget	Dai (DAI)	Up to 5 APY
Blockchain.com	Dai (DAI)	Up to 10 APY
Wirex	Dai (DAI)	Up to 16 APY

What to be Aware of

Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.

Latest Movements

Dai (DAI) is currently priced at $4.15 with a 24-hour trading volume of $147.11M. The market cap of Dai stands at $3.41B, with 3.41B DAI in circulation. For those looking to buy or trade Dai, Nexo offers avenues to do so securely and efficiently}

Market cap: $3.41B
24h volume: $147.11M
Circulating supply: 3.41B DAI

See latest information

Frequently Asked Questions About Lending Dai (DAI)

What are the current Dai (DAI) lending rates?: DAI lending rates vary across platforms and are influenced by market conditions. Use Bitcompare for real-time updates and comparisons to stay informed about the latest rates and to help make informed decisions.
How often do Dai lending rates change?: Dai lending rates can change frequently, influenced by market demand and supply. Regularly check Bitcompare for real-time updates to remain informed about current conditions.
Where can I find reliable information on Dai lending rates?: Bitcompare offers a trusted platform for comparing Dai lending rates across reputable exchanges. Tools include price comparisons, email alerts, sentiment analysis, and the latest news.
How can I stay updated on Dai lending rate changes?: To stay informed, bookmark Bitcompare and check it regularly. Use their tools for real-time updates, email alerts, and latest Dai news to maintain awareness in the dynamic market.
What factors affect Dai lending rates?: Dai lending rates are affected by factors such as market demand, supply, and overall crypto market trends. Use Bitcompare to access the latest insights and sentiment analysis.
Are Dai lending rates consistent across all platforms?: Dai lending rates can differ across platforms due to varying market conditions and platform policies. Use Bitcompare for a comprehensive overview and current comparison of rates.
Can Bitcompare notify me about changes in Dai lending rates?: Yes, Bitcompare offers email alerts for Dai lending rate changes. Sign up to receive notifications and stay informed about important market movements.
Is it necessary to check Dai lending rates frequently?: Yes, to stay ahead in the dynamic crypto market, it's crucial to frequently check lending rates. Use Bitcompare for trusted, up-to-date information and bookmarking the page for convenience.
What resources does Bitcompare provide regarding Dai lending rates?: Bitcompare offers real-time price comparisons, sentiment analysis, email alerts, and the latest Dai news. These tools help you make well-informed decisions in the crypto market.
How reliable is the data on Dai lending rates from Bitcompare?: Bitcompare is a trusted platform providing accurate and up-to-date data on Dai lending rates through reputable exchanges, ensuring you access reliable information for your decisions.