How to Lend Elastos (ELA)

Introduction

Lending Elastos can be an excellent choice for those looking to hold ELA 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 Elastos (ELA) Tokens

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

   E-platform	Coin	Cost
   Coinbase	Elastos (ELA)	1.05 APY
   BingX	Elastos (ELA)	1.05 APY
   Bitget	Elastos (ELA)	1.05 APY
   CoinEx	Elastos (ELA)	1.05 APY
   Crypto.com	Elastos (ELA)	1.06 APY
   Gate.io	Elastos (ELA)	1.05 APY

   See all 19 prices in Uganda

2. 2. Select a Elastos Lender

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

   E-platform	Coin	APY
   Bitget	Elastos (ELA)	Up to 1% APY

3. 3. Lend Your Elastos

   Once you've selected a platform to lend your Elastos, transfer your Elastos 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.