How to Earn Merlin Chain (MERL): A Step-by-Step Guide for Ugandans

Introduction

Lending Merlin Chain can be an excellent choice for those looking to hold MERL 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. Acquire Merlin Chain (MERL) Tokens

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

E-platform	Coin	Cost
PrimeXBT	Merlin Chain (MERL)	0.43 APY
BTSE	Merlin Chain (MERL)	0.43 APY
Kraken	Merlin Chain (MERL)	0.43 APY
OKX	Merlin Chain (MERL)	0.11 APY
BingX	Merlin Chain (MERL)	0.43 APY
Bitget	Merlin Chain (MERL)	0.43 APY

See all 32 prices in Uganda

2. Select a Merlin Chain Lender
Once you have MERL, you'll need to select a Merlin Chain lending platform to lend your tokens. You can explore some options here.
E-platform Coin APY
Bitget Merlin Chain (MERL) Up to 0.8% APY
Kucoin Merlin Chain (MERL) Up to 0.5% APY
3. Earn Merlin Chain in Uganda's vibrant financial landscape
Once you've selected a platform to earn your Merlin Chain, transfer your Merlin Chain 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. 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.

E-platform	Coin	APY
Bitget	Merlin Chain (MERL)	Up to 0.8% APY
Kucoin	Merlin Chain (MERL)	Up to 0.5% APY

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.