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Introduction

Lending Wrapped stETH can be an excellent choice for those looking to hold WSTETH 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 Wrapped stETH (WSTETH) Tokens

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

2. 2. Select a Wrapped stETH Lender

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

   E-platform	Coin	APY
   Aave	Wrapped stETH (WSTETH)	Up to 0.45% APY
   Compound	Wrapped stETH (WSTETH)	Up to 0.05% APY

   View all 21 APY rates

3. 3. Earn Wrapped stETH in Uganda's vibrant financial landscape

   Once you've selected a platform to earn your Wrapped stETH, transfer your Wrapped stETH 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.