How to Lend Maker (MKR) in Portugal

Introduction

Lending Maker can be an excellent choice for those looking to hold MKR while generating yield. The process may seem a bit overwhelming, particularly for first-timers. That's why we've created this guide specifically for you.

Step-by-Step Guide for Navigating Cryptocurrency in Portugal 1

1. 1. Acquire Maker (MKR) Tokens in Portugal

   To lend Maker in Portugal, you first need to possess it. To acquire Maker, you will need to purchase it. You can select from these popular exchanges available in the Portuguese market.

   Plataforma	Moeda	Price in Portugal
   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

   View all 71 prices

2. 2. Select a Maker Lender in Portugal

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

   Plataforma	Moeda	APY
   YouHodler	Maker (MKR)	Up to 12% APY in Portugal
   Aave	Maker (MKR)	Up to 0,02% APY in Portugal

   Explore all 8 lending rates available in Portugal

3. 3. Lend Your Maker in Portugal

   Once you've selected a platform to lend your Maker, transfer your Maker into your wallet on the lending platform. After it's deposited, it will begin to accrue interest. Some platforms offer interest payments daily, while others may 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 more interest you can accumulate. Ensure that your lending platform offers compounding interest to maximise your returns in the Portuguese market.

What to Consider in Portugal

Lending your cryptocurrency can carry certain risks