How to Lend Optimism (OP): A Step-by-Step Guide for Ugandans

Introduction

Lending Optimism can be an excellent choice for those looking to hold OP 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. Acquire Optimism (OP) Tokens
To lend Optimism, you first need to possess it. To acquire Optimism, you will have to buy it. You can select from these popular exchanges available in Uganda.
E-platform Coin Cost
Nexo Optimism (OP) 0.32 APY
PrimeXBT Optimism (OP) 0.32 APY
YouHodler Optimism (OP) 0.32 APY
Binance Optimism (OP) 0.32 APY
BTSE Optimism (OP) 0.32 APY
OKX Optimism (OP) 0.72 APY
See all 45 prices in Uganda
2. Select a Optimism Lender
Once you have OP, you'll need to select a Optimism lending platform to lend your tokens. You can explore some options here.
E-platform Coin APY
Aave Optimism (OP) Up to 0.07% APY
Bitget Optimism (OP) Up to 1.2% APY
CEX.io Optimism (OP) Up to 1.5% APY
View all 9 APY rates
3. Lend Your Optimism
Once you've selected a platform to lend your Optimism, transfer your Optimism 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. 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.

E-platform	Coin	Cost
Nexo	Optimism (OP)	0.32 APY
PrimeXBT	Optimism (OP)	0.32 APY
YouHodler	Optimism (OP)	0.32 APY
Binance	Optimism (OP)	0.32 APY
BTSE	Optimism (OP)	0.32 APY
OKX	Optimism (OP)	0.72 APY

E-platform	Coin	APY
Aave	Optimism (OP)	Up to 0.07% APY
Bitget	Optimism (OP)	Up to 1.2% APY
CEX.io	Optimism (OP)	Up to 1.5% APY

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.