How to Lend Ethereum Classic (ETC)

Introduction

Lending Ethereum Classic can be an excellent choice for those looking to hold ETC 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 Ethereum Classic (ETC) Tokens

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

   E-platform	Coin	Cost
   Nexo	Ethereum Classic (ETC)	11.71 APY
   PrimeXBT	Ethereum Classic (ETC)	11.7 APY
   Binance	Ethereum Classic (ETC)	11.71 APY
   Coinbase	Ethereum Classic (ETC)	11.71 APY
   Kraken	Ethereum Classic (ETC)	11.71 APY
   OKX	Ethereum Classic (ETC)	20.9 APY

   See all 54 prices in Uganda

2. 2. Select a Ethereum Classic Lender

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

   E-platform	Coin	APY
   Blockchain.com	Ethereum Classic (ETC)	Up to 1% APY
   Kucoin	Ethereum Classic (ETC)	Up to 0.19% APY

   View all 4 APY rates

3. 3. Lend Your Ethereum Classic

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