How to Lend The Root Network (ROOT)

Introduction

Lending The Root Network can be an excellent choice for those looking to hold ROOT 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 The Root Network (ROOT) Tokens

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

   E-platform	Coin	Cost
   Uphold	The Root Network (ROOT)	0.01 APY
   Bitget	The Root Network (ROOT)	0 APY
   Bitmart	The Root Network (ROOT)	0.000733 APY
   CoinEx	The Root Network (ROOT)	0.00074 APY
   Gate.io	The Root Network (ROOT)	0.0007407 APY
   Hotcoin	The Root Network (ROOT)	0.03 APY

   See all 15 prices in Uganda

2. 2. Select a The Root Network Lender

   Once you have ROOT, you'll need to select a The Root Network lending platform to lend your tokens. You can explore some options here.

   E-platform	Coin	APY
   Kucoin	The Root Network (ROOT)	Up to 100% APY

3. 3. Lend Your The Root Network

   Once you've selected a platform to lend your The Root Network, transfer your The Root Network 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.