How to Lend Reserve Rights (RSR)

Introduction

Lending Reserve Rights can be an excellent choice for those looking to hold RSR 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 Reserve Rights (RSR) Tokens

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

   E-platform	Coin	Cost
   PrimeXBT	Reserve Rights (RSR)	0 APY
   Binance	Reserve Rights (RSR)	0 APY
   BTSE	Reserve Rights (RSR)	0 APY
   Coinbase	Reserve Rights (RSR)	0 APY
   Kraken	Reserve Rights (RSR)	0 APY
   OKX	Reserve Rights (RSR)	0.01 APY

   See all 49 prices in Uganda

2. 2. Select a Reserve Rights Lender

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

   E-platform	Coin	APY
   Kucoin	Reserve Rights (RSR)	Up to 0.5% APY

3. 3. Lend Your Reserve Rights

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