How to Lend Loom (LOOM) in Vietnam

Introduction

Lending Loom is an excellent choice for those looking to hold LOOM while earning yield. The process may seem intimidating at first, which is why we've created this guide to help you navigate it.

Comprehensive Guide

1. 1. Acquire Loom (LOOM) Tokens

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

   Platform	Coin	Cost
   Coinbase	Loom (LOOM)	0.08
   Kucoin	Loom (LOOM)	0.01
   LBank	Loom (LOOM)	0.000421

   View all 4 prices

2. 2. Select a Loom Lender

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

   Platform	Coin	Interest rate
   Kucoin	Loom (LOOM)	Earn up to 0.3% APY

3. 3. Lend Your Loom

   After selecting a platform to lend your Loom, transfer your Loom into your wallet on that platform. Once deposited, it will begin to earn interest. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Grow Your Savings

   Now all you need to do is relax while your crypto accumulates interest. The more you deposit, the greater your potential earnings. Ensure that your lending platform offers compounding interest to maximize your returns.

Things to Consider

Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing. Only lend what you can afford to lose. Review their lending practices, read user reviews, and understand how they secure your cryptocurrency.