How to Lend Bancor Network (BNT): A Step-by-Step Guide for Ugandans

Introduction

Lending Bancor Network can be an excellent choice for those looking to hold BNT 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 Bancor Network (BNT) Tokens

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

E-platform	Coin	Cost
YouHodler	Bancor Network (BNT)	0.4 APY
Binance	Bancor Network (BNT)	0.4 APY
BTSE	Bancor Network (BNT)	0.4 APY
Coinbase	Bancor Network (BNT)	0.4 APY
Kraken	Bancor Network (BNT)	0.4 APY
OKX	Bancor Network (BNT)	0.39 APY

See all 52 prices in Uganda

2. Select a Bancor Network Lender
Once you have BNT, you'll need to select a Bancor Network lending platform to lend your tokens. You can explore some options here.
E-platform Coin APY
YouHodler Bancor Network (BNT) Up to 12% APY
Gemini Bancor Network (BNT) Up to 0.01% APY
View all 4 APY rates
3. Lend Your Bancor Network
Once you've selected a platform to lend your Bancor Network, transfer your Bancor Network 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. 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.

E-platform	Coin	APY
YouHodler	Bancor Network (BNT)	Up to 12% APY
Gemini	Bancor Network (BNT)	Up to 0.01% 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.