Where and How to Earn Synthetix Network (SNX)

Introduction

Lending Synthetix Network can be an excellent choice for those looking to hold SNX 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 Synthetix Network (SNX) Tokens

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

   E-platform	Coin	Cost
   Nexo	Synthetix Network (SNX)	0.65 APY
   YouHodler	Synthetix Network (SNX)	0.65 APY
   Binance	Synthetix Network (SNX)	0.65 APY
   BTSE	Synthetix Network (SNX)	0.65 APY
   Coinbase	Synthetix Network (SNX)	0.65 APY
   Kraken	Synthetix Network (SNX)	0.65 APY

   See all 68 prices in Uganda

2. 2. Select a Synthetix Network Lender

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

   E-platform	Coin	APY
   YouHodler	Synthetix Network (SNX)	Up to 12% APY
   Aave	Synthetix Network (SNX)	Up to 0.23% APY
   Bitget	Synthetix Network (SNX)	Up to 1.5% APY
   Blockchain.com	Synthetix Network (SNX)	Up to 1% APY

   View all 11 APY rates

3. 3. Earn Synthetix Network in Uganda's vibrant financial landscape

   Once you've selected a platform to earn your Synthetix Network, transfer your Synthetix Network 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.