How to Lend MultiversX (EGLD)

Introduction

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

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

   E-platform	Coin	Cost
   PrimeXBT	MultiversX (EGLD)	6.21 APY
   YouHodler	MultiversX (EGLD)	6.21 APY
   Binance	MultiversX (EGLD)	6.21 APY
   BTSE	MultiversX (EGLD)	6.22 APY
   Coinbase	MultiversX (EGLD)	6.21 APY
   Kraken	MultiversX (EGLD)	6.26 APY

   See all 53 prices in Uganda

2. 2. Select a MultiversX Lender

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

   E-platform	Coin	APY
   YouHodler	MultiversX (EGLD)	Up to 16% APY
   Bitget	MultiversX (EGLD)	Up to 0.3% APY
   Kucoin	MultiversX (EGLD)	Up to 6% APY

   View all 5 APY rates

3. 3. Lend Your MultiversX

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