How to Lend PAX Gold (PAXG)

Introduction

Lending PAX Gold can be an excellent choice for those looking to hold PAXG 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 PAX Gold (PAXG) Tokens

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

   E-platform	Coin	Cost
   Nexo	PAX Gold (PAXG)	3,345.58 APY
   YouHodler	PAX Gold (PAXG)	3,346.34 APY
   Binance	PAX Gold (PAXG)	3,346.14 APY
   Coinbase	PAX Gold (PAXG)	3,351.46 APY
   Kraken	PAX Gold (PAXG)	3,349.66 APY
   Luno	PAX Gold (PAXG)	3,414 APY

   See all 44 prices in Uganda

2. 2. Select a PAX Gold Lender

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

   E-platform	Coin	APY
   Nexo	PAX Gold (PAXG)	Up to 7% APY
   YouHodler	PAX Gold (PAXG)	Up to 12% APY
   Gemini	PAX Gold (PAXG)	Up to 0.01% APY
   Kucoin	PAX Gold (PAXG)	Up to 0.25% APY

   View all 7 APY rates

3. 3. Lend Your PAX Gold

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