How to Lend STACKS (stacks)

Introduction

Lending STACKS can be an excellent choice for those looking to hold stacks 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 STACKS (stacks) Tokens

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

   E-platform	Coin	Cost
   Uphold	STACKS (stacks)	0.79 APY
   BingX	STACKS (stacks)	0.74 APY
   Bitget	STACKS (stacks)	0.74 APY
   Bitmart	STACKS (stacks)	0.69 APY
   Bitpanda	STACKS (stacks)	2.3 APY
   Blockchain.com	STACKS (stacks)	0.32 APY

   See all 21 prices in Uganda

2. 2. Select a STACKS Lender

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

   E-platform	Coin	APY
   Bitget	STACKS (stacks)	Up to 4% APY
   Blockchain.com	STACKS (stacks)	Up to 1% APY

3. 3. Lend Your STACKS

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