Where and How to Earn UMA (UMA)

Introduction

Lending UMA can be an excellent choice for those looking to hold UMA 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 UMA (UMA) Tokens

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

   Platform	Mint	Cost
   Binance	UMA (UMA)	1,27
   Coinbase	UMA (UMA)	1,27
   Kraken	UMA (UMA)	1,27
   OKX	UMA (UMA)	1,4
   Uphold	UMA (UMA)	1,23
   Azbit	UMA (UMA)	1,27

   View all 55 prices

2. 2. Select a UMA Lender

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

   Platform	Mint	APY
   Gemini	UMA (UMA)	Up to 0,01% APY
   Kucoin	UMA (UMA)	Up to 0,5% APY

   View all 4 lending APYs

3. 3. Earn UMA

   Once you've selected a platform to earn your UMA, transfer your UMA 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.