How to Lend Ravencoin (RVN)

Introduction

Lending Ravencoin can be an excellent choice for those looking to hold RVN 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 Ravencoin (RVN) Tokens

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

   E-platform	Coin	Cost
   Binance	Ravencoin (RVN)	0.01 APY
   OKX	Ravencoin (RVN)	0.01 APY
   Uphold	Ravencoin (RVN)	0.01 APY
   BingX	Ravencoin (RVN)	0.01 APY
   Bitget	Ravencoin (RVN)	0.01 APY
   Bitmart	Ravencoin (RVN)	0.01 APY

   See all 36 prices in Uganda

2. 2. Select a Ravencoin Lender

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

   E-platform	Coin	APY
   Kucoin	Ravencoin (RVN)	Up to 0.5% APY

3. 3. Lend Your Ravencoin

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