How to Lend Zilliqa (ZIL)

Introduction

Lending Zilliqa can be an excellent choice for those looking to hold ZIL 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 Zilliqa (ZIL) Tokens

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

   E-platform	Coin	Cost
   EarnPark	Zilliqa (ZIL)	0.01 APY
   YouHodler	Zilliqa (ZIL)	0.01 APY
   Binance	Zilliqa (ZIL)	0.01 APY
   OKX	Zilliqa (ZIL)	0.01 APY
   Uphold	Zilliqa (ZIL)	0.01 APY
   Bake	Zilliqa (ZIL)	0.01 APY

   See all 45 prices in Uganda

2. 2. Select a Zilliqa Lender

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

   E-platform	Coin	APY
   YouHodler	Zilliqa (ZIL)	Up to 12% APY
   EarnPark	Zilliqa (ZIL)	Up to 10% APY
   Kucoin	Zilliqa (ZIL)	Up to 1% APY

   View all 6 APY rates

3. 3. Lend Your Zilliqa

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