How to Earn Dai (DAI): A Step-by-Step Guide for South Africans

Introduction

Lending Dai can be an excellent choice for those looking to hold DAI 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. Acquire Dai (DAI) Tokens
To lend Dai, you first need to possess it. To acquire Dai, you'll need to buy it. You can select from these well-known exchanges.
Platform Mint Cost
Uphold Dai (DAI) 1
BingX Dai (DAI) 1
View all 26 prices
2. Select a Dai Lender
Once you have DAI, you'll need to select a Dai lending platform to lend your tokens. You can explore some options here.
Platform Mint APY
Nexo Dai (DAI) Up to 14% APY
Aave Dai (DAI) Up to 11,64% APY
AQRU Dai (DAI) Up to 6% APY
Bitget Dai (DAI) Up to 5% APY
Blockchain.com Dai (DAI) Up to 3,75% APY
View all 22 lending APYs
3. Earn Dai
Once you've selected a platform to earn your Dai, transfer your Dai 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. 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.

Platform	Mint	Cost
Uphold	Dai (DAI)	1
BingX	Dai (DAI)	1

Platform	Mint	APY
Nexo	Dai (DAI)	Up to 14% APY
Aave	Dai (DAI)	Up to 11,64% APY
AQRU	Dai (DAI)	Up to 6% APY
Bitget	Dai (DAI)	Up to 5% APY
Blockchain.com	Dai (DAI)	Up to 3,75% APY

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.