missing en-za translation: how-to.verb.earn.hero.heading

Introduction

Lending Algorand can be an excellent choice for those looking to hold ALGO while earning a return. The process may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.

Step-by-Step Guide for South African Investors

1. 1. Acquire Algorand (ALGO) Tokens

   To lend Algorand, you first need to possess it. To acquire Algorand, you'll need to buy it. You can select from these well-known exchanges.

   Platform	Mint	Cost
   Nexo	Algorand (ALGO)	0,11
   PrimeXBT	Algorand (ALGO)	0,11
   Binance	Algorand (ALGO)	0,11
   BTSE	Algorand (ALGO)	0,11
   Coinbase	Algorand (ALGO)	0,11
   OKX	Algorand (ALGO)	0,24

   View all 52 prices

2. 2. Select a Algorand Lender

   Once you have ALGO, you'll need to select a Algorand lending platform to lend your tokens. You can explore some options here.

   Platform	Mint	APY
   Nebeus	Algorand (ALGO)	Up to 4,5% APY
   Blockchain.com	Algorand (ALGO)	Up to 1% APY

3. 3. Earn Algorand

   Once you've selected a platform to earn your Algorand, transfer your Algorand into your wallet on the earning platform. Once it's deposited, it will start earning APY. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn Interest in South Africa

   Now all you need to do is sit back while your cryptocurrency earns APY. The more you deposit, the more interest you can earn. Try to ensure your earning platform pays compounding interest to maximise your returns.

What to Keep in Mind

Lending your crypto can be risky. Ensure you conduct thorough research before depositing your crypto. Don't lend more than you're prepared to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.