Where and How to Lend Dai (DAI)

Introduction

Lending Dai can be a great option for those who want to hold DAI 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 Dai (DAI) Tokens

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

   Platform	Coin	Price
   Nexo	Dai (DAI)	1.00
   Wirex	Dai (DAI)	1.00
   Uphold	Dai (DAI)	1.00
   EarnPark	Dai (DAI)	1.00
   Klink	Dai (DAI)	1.00
   Kraken	Dai (DAI)	1.00

   See all 17 prices

2. 2. Choose a Dai Lender

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

   Platform	Coin	Interest rate
   Nexo	Dai (DAI)	Up to 14.00 APY
   Wirex	Dai (DAI)	Up to 16.00 APY
   EarnPark	Dai (DAI)	Up to 15.09 APY
   Aave	Dai (DAI)	Up to 11.64 APY

   See all 13 lending rates

3. 3. Lend Your Dai

   Once you’ve chosen a platform to lending your Dai, transfer your Dai 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.