Introduction
Lending Ethereum Classic can be a great option for those who want to hold ETC but earn yield. The steps can be a little daunting, especially the first time you do them. That's why we've put this guide together for you.
Step-by-Step Guide
1. Obtain Ethereum Classic (ETC) Tokens
In order to lend Ethereum Classic, you need to have it. To obtain Ethereum Classic, you'll need to purchase it. You can choose from these popular exchanges.
See all 53 pricesPlatform Coin Price Nexo Ethereum Classic (ETC) 23.16 Kraken Ethereum Classic (ETC) 23.18 OKX Ethereum Classic (ETC) 23.15 Binance Ethereum Classic (ETC) 23.16 Coinbase Ethereum Classic (ETC) 23.18 Azbit Ethereum Classic (ETC) 23.16 2. Choose a Ethereum Classic Lender
Once you have ETC, you'll need to choose a Ethereum Classic lending platform to lend your tokens. You can see some options here.
See all 4 lending ratesPlatform Coin Interest rate Blockchain.com Ethereum Classic (ETC) Up to 1% APY Kucoin Ethereum Classic (ETC) Up to 0.43% APY 3. Earn Ethereum Classic
Once you've chosen a platform to earning your Ethereum Classic, transfer your Ethereum Classic into your wallet in the earning platform. Once it's deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.
4. Earn Interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your earning platform pays compounding interest to maximise your returns.
What to be Aware of
Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don't lend more than you're willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.
Latest Movements
Ethereum Classic (ETC) is currently priced at $1 with a 24-hour trading volume of $154.64M. The market cap of Ethereum Classic stands at $3.78B, with 150.29M ETC in circulation. For those looking to buy or trade Ethereum Classic, Blockchain.com offers avenues to do so securely and efficiently}
- Market cap
- $3.78B
- 24h volume
- $154.64M
- Circulating supply
- 150.29M ETC
Frequently Asked Questions About Lending Ethereum Classic (ETC)
- What are the current lending rates for Ethereum Classic (ETC)?
- The current lending rates for Ethereum Classic vary, with an average rate of 5.025%. Notably, the best lending rate available is on Blockchain.com. It is essential to stay informed about these rates, as they can fluctuate and impact your lending decisions. For real-time updates and comparisons, consider utilizing Bitcompare's features to effectively monitor the latest lending rates for Ethereum Classic.