How to Lend IOST (IOST)

Introduction

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

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

   E-platform	Coin	Cost
   EarnPark	IOST (IOST)	0.01 APY
   Binance	IOST (IOST)	0 APY
   OKX	IOST (IOST)	0 APY
   BingX	IOST (IOST)	0 APY
   Bitget	IOST (IOST)	0 APY
   Bitmart	IOST (IOST)	0 APY

   See all 35 prices in Uganda

2. 2. Select a IOST Lender

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

   E-platform	Coin	APY
   EarnPark	IOST (IOST)	Up to 10% APY
   Kucoin	IOST (IOST)	Up to 0.5% APY

3. 3. Lend Your IOST

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