How to Lend Terra (LUNA)

Introduction

Lending Terra can be an excellent choice for those looking to hold LUNA 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 Terra (LUNA) Tokens

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

   E-platform	Coin	Cost
   YouHodler	Terra (LUNA)	0.15 APY
   Kraken	Terra (LUNA)	0.16 APY
   OKX	Terra (LUNA)	0.15 APY
   Binance	Terra (LUNA)	0.15 APY
   BTSE	Terra (LUNA)	0.15 APY
   BingX	Terra (LUNA)	0.16 APY

   See all 39 prices in Uganda

2. 2. Select a Terra Lender

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

   E-platform	Coin	APY
   Bitget	Terra (LUNA)	Up to 6.5% APY
   Gemini	Terra (LUNA)	Up to 0.01% APY
   Kucoin	Terra (LUNA)	Up to 5% APY

   View all 5 APY rates

3. 3. Lend Your Terra

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