How to Lend Sonic (prev. FTM) (S): A Step-by-Step Guide for Ugandans

Introduction

Lending Sonic (prev. FTM) can be an excellent choice for those looking to hold S 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 Sonic (prev. FTM) (S) Tokens

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

E-platform	Coin	Cost
Nexo	Sonic (prev. FTM) (S)	0.09 APY
PrimeXBT	Sonic (prev. FTM) (S)	0.08 APY
YouHodler	Sonic (prev. FTM) (S)	0.08 APY
Binance	Sonic (prev. FTM) (S)	0.08 APY
Coinbase	Sonic (prev. FTM) (S)	0.08 APY
Kraken	Sonic (prev. FTM) (S)	0.08 APY

See all 41 prices in Uganda

2. Select a Sonic (prev. FTM) Lender
Once you have S, you'll need to select a Sonic (prev. FTM) lending platform to lend your tokens. You can explore some options here.
E-platform Coin APY
YouHodler Sonic (prev. FTM) (S) Up to 30% APY
Kucoin Sonic (prev. FTM) (S) Up to 4.5% APY
3. Lend Your Sonic (prev. FTM)
Once you've selected a platform to lend your Sonic (prev. FTM), transfer your Sonic (prev. FTM) 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	APY
YouHodler	Sonic (prev. FTM) (S)	Up to 30% APY
Kucoin	Sonic (prev. FTM) (S)	Up to 4.5% 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.