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Introduction

Lending Filecoin is an excellent choice for those looking to hold FIL while earning yield. The process may seem intimidating, especially for first-timers. That's why we've created this guide to help you navigate it.

Comprehensive Guide

1. 1. Acquire Filecoin (FIL) Tokens

   To lend Filecoin, you must first possess it. To acquire Filecoin, you will need to buy it. You can select from these well-known exchanges.

   Platform	Coin	Cost
   PrimeXBT	Filecoin (FIL)	1.33
   YouHodler	Filecoin (FIL)	1.33
   Binance	Filecoin (FIL)	1.33
   BTSE	Filecoin (FIL)	1.34
   OKX	Filecoin (FIL)	1.33
   Uphold	Filecoin (FIL)	2.66

   View all 46 prices

2. 2. Select a Filecoin Lender

   Once you have FIL, you'll need to select a Filecoin lending platform to lend your tokens. You can find some options here.

   Platform	Coin	Interest rate
   YouHodler	Filecoin (FIL)	Earn up to 12% APY
   Bitget	Filecoin (FIL)	Earn up to 4.2% APY
   Gemini	Filecoin (FIL)	Earn up to 0.01% APY

   View all 5 loan rates

3. 3. Earn Filecoin

   After selecting a platform to earn your Filecoin, transfer your Filecoin to your wallet on that platform. Once deposited, it will begin accruing interest. Some platforms offer daily interest payments, while others may pay weekly or monthly.

4. 4. Accumulate Interest

   Now all you need to do is relax while your crypto generates interest. The more you deposit, the more interest you can earn. Ensure that your earning platform offers compounding interest to maximize your returns.

Key Considerations

Lending your cryptocurrency can involve risks. Ensure you conduct thorough research before making any deposits. Only lend what you can afford to lose. Review their lending practices, customer feedback, and the security measures they have in place for your assets.