How to Lend MANTRA (OM)

Introduction

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

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

   E-platform	Coin	Cost
   PrimeXBT	MANTRA (OM)	0.07 APY
   YouHodler	MANTRA (OM)	0.07 APY
   Binance	MANTRA (OM)	0.07 APY
   BTSE	MANTRA (OM)	0.16 APY
   Kraken	MANTRA (OM)	0.07 APY
   OKX	MANTRA (OM)	6.89 APY

   See all 44 prices in Uganda

2. 2. Select a MANTRA Lender

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

   E-platform	Coin	APY
   YouHodler	MANTRA (OM)	Up to 30% APY
   Kucoin	MANTRA (OM)	Up to 0.5% APY

3. 3. Lend Your MANTRA

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