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Introduction

Lending Chainlink can be an excellent choice for those looking to hold LINK while earning some returns. The process might seem a bit overwhelming, particularly if you're doing it for the first time. That's why we've created this guide to help you navigate through it smoothly.

Step-by-Step Guide for Ugandan Investors

1. 1. Acquire Chainlink (LINK) Tokens

   To lend Chainlink, you first need to possess it. To acquire Chainlink, you will have to buy it. You can select from these popular exchanges available in Uganda.

   E-platform	Coin	Cost
   Nexo	Chainlink (LINK)	13.44 APY
   PrimeXBT	Chainlink (LINK)	13.4 APY
   YouHodler	Chainlink (LINK)	13.39 APY
   Binance	Chainlink (LINK)	13.41 APY
   BTSE	Chainlink (LINK)	13.4 APY

   See all 73 prices in Uganda

2. 2. Select a Chainlink Lender

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

   E-platform	Coin	APY
   Nexo	Chainlink (LINK)	Up to 7% APY
   EarnPark	Chainlink (LINK)	Up to 5% APY
   YouHodler	Chainlink (LINK)	Up to 12% APY
   Aave	Chainlink (LINK)	Up to 0.03% APY

   View all 19 APY rates

3. 3. Earn Chainlink in Uganda's vibrant financial landscape

   Once you've selected a platform to earn your Chainlink, transfer your Chainlink into your wallet on the earning platform. Once it's deposited, it will begin to earn APY. Some platforms pay APY daily, while others do so weekly or monthly.

4. 4. Grow Your Savings

   Now all you need to do is relax while your cryptocurrency earns APY. The more you deposit, the more APY you can earn. Ensure that your earning platform offers compounding APY to maximise your returns.

What to Keep in Mind

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 take to secure your cryptocurrency.