How to Lend First Digital USD (FDUSD)

Introduction

Lending First Digital USD can be an excellent choice for those looking to hold FDUSD 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 First Digital USD (FDUSD) Tokens

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

   E-platform	Coin	Cost
   Binance	First Digital USD (FDUSD)	1 APY
   Azbit	First Digital USD (FDUSD)	1 APY
   BingX	First Digital USD (FDUSD)	1 APY
   Bitget	First Digital USD (FDUSD)	1 APY
   Bybit	First Digital USD (FDUSD)	1 APY

   See all 19 prices in Uganda

2. 2. Select a First Digital USD Lender

   Once you have FDUSD, you'll need to select a First Digital USD lending platform to lend your tokens. You can explore some options here.

   E-platform	Coin	APY
   Aave	First Digital USD (FDUSD)	Up to 2.86% APY
   BTSE	First Digital USD (FDUSD)	Up to 7% APY

   View all 5 APY rates

3. 3. Lend Your First Digital USD

   Once you've selected a platform to lend your First Digital USD, transfer your First Digital USD 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.