How to Lend Ethena (ENA)

Introduction

Lending Ethena can be an excellent choice for those looking to hold ENA 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 Ethena (ENA) Tokens

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

   E-platform	Coin	Cost
   PrimeXBT	Ethena (ENA)	0.2 APY
   YouHodler	Ethena (ENA)	0.2 APY
   Binance	Ethena (ENA)	0.2 APY
   BTSE	Ethena (ENA)	0.2 APY
   Coinbase	Ethena (ENA)	0.2 APY
   Kraken	Ethena (ENA)	0.2 APY

   See all 55 prices in Uganda

2. 2. Select a Ethena Lender

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

   E-platform	Coin	APY
   YouHodler	Ethena (ENA)	Up to 16% APY
   Blockchain.com	Ethena (ENA)	Up to 12% APY
   Kucoin	Ethena (ENA)	Up to 0.5% APY

   View all 5 APY rates

3. 3. Lend Your Ethena

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