Where and How to Lend Algowave (ALGO)

Introduction

Lending Algowave can be a great option for those who want to hold ALGO 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. 1. Obtain Algowave (ALGO) Tokens

   In order to lend Algowave, you need to have it. To obtain Algowave, you’ll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	Algowave (ALGO)	0.21
   Kraken	Algowave (ALGO)	0.29
   MEXC Global	Algowave (ALGO)	0.29
   Kucoin	Algowave (ALGO)	0.29
   Hotcoin	Algowave (ALGO)	0.29
   CoinEx	Algowave (ALGO)	0.29

   See all 6 prices

2. 2. Choose a Algowave Lender

   Once you have ALGO, you’ll need to choose a Algowave lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   Kucoin	Algowave (ALGO)	Up to 0.5 APY

3. 3. Lend Your Algowave

   Once you’ve chosen a platform to lending your Algowave, transfer your Algowave into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.

4. 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 lending 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.