How to Lend Fantom (FTM)

Introduction

Lending Fantom can be an excellent choice for those looking to hold FTM 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 Fantom (FTM) Tokens

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

   E-platform	Coin	Cost
   Nexo	Fantom (FTM)	0.47 APY
   PrimeXBT	Fantom (FTM)	0.68 APY
   Uphold	Fantom (FTM)	0.68 APY
   Kraken	Fantom (FTM)	0.57 APY
   OKX	Fantom (FTM)	0.69 APY
   Binance	Fantom (FTM)	0.7 APY

   See all 43 prices in Uganda

2. 2. Select a Fantom Lender

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

   E-platform	Coin	APY
   Nexo	Fantom (FTM)	Up to 7% APY
   Nebeus	Fantom (FTM)	Up to 13% APY
   Gemini	Fantom (FTM)	Up to 0.01% APY

   View all 6 APY rates

3. 3. Lend Your Fantom

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