How to Lend Numeraire (NMR)

Introduction

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

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

   E-platform	Coin	Cost
   Binance	Numeraire (NMR)	9.87 APY
   BTSE	Numeraire (NMR)	9.85 APY
   Coinbase	Numeraire (NMR)	9.88 APY
   Kraken	Numeraire (NMR)	9.87 APY
   OKX	Numeraire (NMR)	9.08 APY
   Uphold	Numeraire (NMR)	8.2 APY

   See all 47 prices in Uganda

2. 2. Select a Numeraire Lender

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

   E-platform	Coin	APY
   Kucoin	Numeraire (NMR)	Up to 0.5% APY

3. 3. Lend Your Numeraire

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