Introduction
Lending Sonic (prev. FTM) can be a great option for those who want to hold S 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 Sonic (prev. FTM) (S) Tokens
In order to lend Sonic (prev. FTM), you need to have it. To obtain Sonic (prev. FTM), you'll need to purchase it. You can choose from these popular exchanges.
2. Choose a Sonic (prev. FTM) Lender
Once you have S, you'll need to choose a Sonic (prev. FTM) lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate YouHodler Sonic (prev. FTM) (S) Up to 30% APY Kucoin Sonic (prev. FTM) (S) Up to 4.5% APY 3. Earn Sonic (prev. FTM)
Once you've chosen a platform to earning your Sonic (prev. FTM), transfer your Sonic (prev. FTM) 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
Sonic (prev. FTM) (S) is currently priced at $4.5 with a 24-hour trading volume of $3.15M. The market cap of Sonic (prev. FTM) stands at $2.05B, with 3.18B S in circulation. For those looking to buy or trade Sonic (prev. FTM), YouHodler offers avenues to do so securely and efficiently}
- Market cap
- $2.05B
- 24h volume
- $3.15M
- Circulating supply
- 3.18B S
Frequently Asked Questions About Lending Sonic (prev. FTM) (S)
- What are the current lending rates for Sonic (formerly FTM) (S)?
- The current lending rates for Sonic (S) indicate a total of two available rates, with an average rate of 2.265%. The best lending rate is available on Kucoin, although specific percentage details are not provided. Monitoring these rates is essential for users looking to leverage their investments in Sonic, so regularly checking updated data is advisable. For real-time comparisons and alerts, consider utilizing Bitcompare’s features to stay informed.