Introduction

Lending Australian Dollar can be an excellent choice for those looking to hold AUD 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 Australian Dollar (AUD) Tokens

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

   E-platform	Coin	Cost
   YouHodler	Australian Dollar (AUD)	0.67 APY
   Binance	Australian Dollar (AUD)	0.73 APY
   Kraken	Australian Dollar (AUD)	0.67 APY
   Uphold	Australian Dollar (AUD)	0.65 APY
   Currency.com	Australian Dollar (AUD)	0.62 APY
   Gemini	Australian Dollar (AUD)	0.67 APY

   See all 10 prices in Uganda

2. 2. Select a Australian Dollar Lender

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

3. 3. Lend Your Australian Dollar

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