How to Lend Chainlink (LINK): A Step-by-Step Guide for Ugandans

Introduction

Lending Chainlink can be an excellent choice for those looking to hold LINK 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 Chainlink (LINK) Tokens
To lend Chainlink, you first need to possess it. To acquire Chainlink, you will have to buy it. You can select from these popular exchanges available in Uganda.
E-platform Coin Cost
Nexo Chainlink (LINK) 13.22 APY
PrimeXBT Chainlink (LINK) 13.19 APY
YouHodler Chainlink (LINK) 13.19 APY
Binance Chainlink (LINK) 13.2 APY
BTSE Chainlink (LINK) 13.18 APY
See all 73 prices in Uganda
2. Select a Chainlink Lender
Once you have LINK, you'll need to select a Chainlink lending platform to lend your tokens. You can explore some options here.
E-platform Coin APY
Nexo Chainlink (LINK) Up to 7% APY
EarnPark Chainlink (LINK) Up to 5% APY
YouHodler Chainlink (LINK) Up to 12% APY
Aave Chainlink (LINK) Up to 0.03% APY
View all 19 APY rates
3. Lend Your Chainlink
Once you've selected a platform to lend your Chainlink, transfer your Chainlink 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	Cost
Nexo	Chainlink (LINK)	13.22 APY
PrimeXBT	Chainlink (LINK)	13.19 APY
YouHodler	Chainlink (LINK)	13.19 APY
Binance	Chainlink (LINK)	13.2 APY
BTSE	Chainlink (LINK)	13.18 APY

E-platform	Coin	APY
Nexo	Chainlink (LINK)	Up to 7% APY
EarnPark	Chainlink (LINK)	Up to 5% APY
YouHodler	Chainlink (LINK)	Up to 12% APY
Aave	Chainlink (LINK)	Up to 0.03% 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.