Where and How to Lend dYdX (DYDX)

Introduction

Lending dYdX can be a great option for those who want to hold DYDX 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 dYdX (DYDX) Tokens

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

   Platform	Coin	Price
   Nexo	dYdX (DYDX)	1.05
   Bitpanda	dYdX (DYDX)	1.02
   Uphold	dYdX (DYDX)	1.04
   Kraken	dYdX (DYDX)	1.02
   OKX	dYdX (DYDX)	1.03
   Binance	dYdX (DYDX)	1.00

   See all 14 prices

2. 2. Choose a dYdX Lender

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

   Platform	Coin	Interest rate
   MEXC Global	dYdX (DYDX)	Up to 0.80 APY
   Kucoin	dYdX (DYDX)	Up to 0.50 APY
   OKX	dYdX (DYDX)	Up to 1.00 APY

3. 3. Lend Your dYdX

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