How to Lend Zcash (ZEC)

Introduction

Lending Zcash can be an excellent choice for those looking to hold ZEC 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 Zcash (ZEC) Tokens

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

   E-platform	Coin	Cost
   PrimeXBT	Zcash (ZEC)	416.29 APY
   Binance	Zcash (ZEC)	415.36 APY
   Coinbase	Zcash (ZEC)	415.11 APY
   Kraken	Zcash (ZEC)	415.3 APY
   Azbit	Zcash (ZEC)	416.12 APY
   Bitfinex	Zcash (ZEC)	416.49 APY

   See all 35 prices in Uganda

2. 2. Select a Zcash Lender

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

   E-platform	Coin	APY
   Gemini	Zcash (ZEC)	Up to 0.01% APY
   Kucoin	Zcash (ZEC)	Up to 0.28% APY

   View all 4 APY rates

3. 3. Lend Your Zcash

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