How to Lend Dai (DAI): A Step-by-Step Guide for Ugandans

Introduction

Lending Dai can be an excellent choice for those looking to hold DAI 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 Dai (DAI) Tokens
To lend Dai, you first need to possess it. To acquire Dai, you will have to buy it. You can select from these popular exchanges available in Uganda.
E-platform Coin Cost
Uphold Dai (DAI) 1 APY
BingX Dai (DAI) 1 APY
See all 26 prices in Uganda
2. Select a Dai Lender
Once you have DAI, you'll need to select a Dai lending platform to lend your tokens. You can explore some options here.
E-platform Coin APY
Nexo Dai (DAI) Up to 14% APY
Aave Dai (DAI) Up to 11.64% APY
AQRU Dai (DAI) Up to 6% APY
Bitget Dai (DAI) Up to 5% APY
Blockchain.com Dai (DAI) Up to 3.75% APY
View all 22 APY rates
3. Lend Your Dai
Once you've selected a platform to lend your Dai, transfer your Dai 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
Uphold	Dai (DAI)	1 APY
BingX	Dai (DAI)	1 APY

E-platform	Coin	APY
Nexo	Dai (DAI)	Up to 14% APY
Aave	Dai (DAI)	Up to 11.64% APY
AQRU	Dai (DAI)	Up to 6% APY
Bitget	Dai (DAI)	Up to 5% APY
Blockchain.com	Dai (DAI)	Up to 3.75% 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.