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Introduction

Lending Monero is an excellent choice for those looking to hold XMR 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 Monero (XMR) Tokens

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

   Platform	Coin	Cost
   Binance	Monero (XMR)	118.7
   BTSE	Monero (XMR)	435
   Kraken	Monero (XMR)	438.02
   Azbit	Monero (XMR)	437.86
   BingX	Monero (XMR)	161.9
   Bitfinex	Monero (XMR)	437.84

   View all 27 prices

2. 2. Select a Monero Lender

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

   Platform	Coin	Interest rate
   Kucoin	Monero (XMR)	Earn up to 0.29% APY

3. 3. Earn Monero

   After selecting a platform to earn your Monero, transfer your Monero 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.