How to Lend Arbitrum (ARB)

Introduction

Lending Arbitrum can be an excellent choice for those looking to hold ARB 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 Arbitrum (ARB) Tokens

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

   E-platform	Coin	Cost
   Nexo	Arbitrum (ARB)	0.19 APY
   EarnPark	Arbitrum (ARB)	0.19 APY
   YouHodler	Arbitrum (ARB)	0.19 APY
   Binance	Arbitrum (ARB)	0.19 APY
   BTSE	Arbitrum (ARB)	0.19 APY
   Coinbase	Arbitrum (ARB)	0.19 APY

   See all 58 prices in Uganda

2. 2. Select a Arbitrum Lender

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

   E-platform	Coin	APY
   Nexo	Arbitrum (ARB)	Up to 6% APY
   EarnPark	Arbitrum (ARB)	Up to 7% APY
   Aave	Arbitrum (ARB)	Up to 0.71% APY
   Bitget	Arbitrum (ARB)	Up to 0.16% APY

   View all 11 APY rates

3. 3. Lend Your Arbitrum

   Once you've selected a platform to lend your Arbitrum, transfer your Arbitrum into your wallet on the lending platform. After it's deposited, it will begin to earn APY. Some platforms pay interest 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 higher your potential returns. Ensure that your lending platform offers compounding interest to maximise your earnings.

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.