How to Lend Wrapped Bitcoin (WBTC)

Introduction

Lending Wrapped Bitcoin can be an excellent choice for those looking to hold WBTC 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 Wrapped Bitcoin (WBTC) Tokens

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

   E-platform	Coin	Cost
   Binance	Wrapped Bitcoin (WBTC)	90,724.18 APY
   Kraken	Wrapped Bitcoin (WBTC)	91,168.4 APY
   OKX	Wrapped Bitcoin (WBTC)	114,676.9 APY
   BingX	Wrapped Bitcoin (WBTC)	90,787.22 APY
   Bitget	Wrapped Bitcoin (WBTC)	90,981.4 APY
   Bitmart	Wrapped Bitcoin (WBTC)	90,754.21 APY

   See all 20 prices in Uganda

2. 2. Select a Wrapped Bitcoin Lender

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

   E-platform	Coin	APY
   Aave	Wrapped Bitcoin (WBTC)	Up to 0.01% APY
   Bitget	Wrapped Bitcoin (WBTC)	Up to 1.3% APY
   Compound	Wrapped Bitcoin (WBTC)	Up to 0.32% APY
   Klink	Wrapped Bitcoin (WBTC)	Up to 4% APY

   View all 15 APY rates

3. 3. Lend Your Wrapped Bitcoin

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