How to Lend NEAR Protocol (NEAR)

Introduction

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

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

   E-platform	Coin	Cost
   Nexo	NEAR Protocol (NEAR)	1.71 APY
   PrimeXBT	NEAR Protocol (NEAR)	1.7 APY
   YouHodler	NEAR Protocol (NEAR)	1.7 APY
   Binance	NEAR Protocol (NEAR)	1.7 APY
   BTSE	NEAR Protocol (NEAR)	1.7 APY

   See all 59 prices in Uganda

2. 2. Select a NEAR Protocol Lender

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

   E-platform	Coin	APY
   Nexo	NEAR Protocol (NEAR)	Up to 10% APY
   YouHodler	NEAR Protocol (NEAR)	Up to 16% APY
   Bitget	NEAR Protocol (NEAR)	Up to 4.2% APY
   Blockchain.com	NEAR Protocol (NEAR)	Up to 6.5% APY
   Coinbase	NEAR Protocol (NEAR)	Up to 9.19% APY

   View all 12 APY rates

3. 3. Lend Your NEAR Protocol

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