Where and How to Lend Scallop (SCA)

Introduction

Lending Scallop can be a great option for those who want to hold SCA 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 Scallop (SCA) Tokens

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

   Platform	Coin	Price
   Bitmart	Scallop (SCA)	0.4
   MEXC Global	Scallop (SCA)	0.4
   Bitget	Scallop (SCA)	0.4
   Bybit	Scallop (SCA)	0.4
   Gate.io	Scallop (SCA)	0.39
   LBank	Scallop (SCA)	0.4

   See all 8 prices

2. 2. Choose a Scallop Lender

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

   Platform	Coin	Interest rate
   Bitget	Scallop (SCA)	Up to 1 APY

3. 3. Lend Your Scallop

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