How to Lend Internet Computer (ICP): A Step-by-Step Guide for Ugandans

Introduction

Lending Internet Computer can be an excellent choice for those looking to hold ICP 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. Acquire Internet Computer (ICP) Tokens

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

E-platform	Coin	Cost
PrimeXBT	Internet Computer (ICP)	3 APY
YouHodler	Internet Computer (ICP)	3 APY
Binance	Internet Computer (ICP)	3 APY
Coinbase	Internet Computer (ICP)	3 APY
Kraken	Internet Computer (ICP)	3 APY
OKX	Internet Computer (ICP)	5.15 APY

See all 54 prices in Uganda

2. Select a Internet Computer Lender
Once you have ICP, you'll need to select a Internet Computer lending platform to lend your tokens. You can explore some options here.
E-platform Coin APY
Kucoin Internet Computer (ICP) Up to 0.5% APY
3. Lend Your Internet Computer
Once you've selected a platform to lend your Internet Computer, transfer your Internet Computer 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. 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.

E-platform	Coin	APY
Kucoin	Internet Computer (ICP)	Up to 0.5% APY

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.