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

Introduction

Lending USDS can be an excellent choice for those looking to hold USDS 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 USDS (USDS) Tokens
To lend USDS, you first need to possess it. To acquire USDS, you'll need to buy it. You can select from these well-known exchanges.
Platform Mint Cost
Coinbase USDS (USDS) 1
Bitget USDS (USDS) 1
Probit USDS (USDS) 1,09
View all 5 prices
2. Select a USDS Lender
Once you have USDS, you'll need to select a USDS lending platform to lend your tokens. You can explore some options here.
Platform Mint APY
Aave USDS (USDS) Up to 1,24% APY
Compound USDS (USDS) Up to 4,24% APY
View all 4 lending APYs
3. Earn USDS
Once you've selected a platform to earn your USDS, transfer your USDS 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
Coinbase	USDS (USDS)	1
Bitget	USDS (USDS)	1
Probit	USDS (USDS)	1,09

Platform	Mint	APY
Aave	USDS (USDS)	Up to 1,24% APY
Compound	USDS (USDS)	Up to 4,24% 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.

Latest Movements in the Market

missing en-za translation: common.latest-movements-copy

Market capitalisation: US$5,78B
24-hour trading volume: US$28,88M
Circulating supply: 5,78B USDS

Check the latest updates

Frequently Asked Questions About Lending USDS (USDS) in South Africa

What are the current lending rates for USDS (USDS)?: Lending rates for USDS can vary significantly across platforms. As of now, rates typically range from 5% to 12% APY. For the most accurate and up-to-date rates, consider checking Bitcompare, which aggregates lending rates from various platforms.
How can I lend USDS effectively?: To lend USDS, choose a reputable platform that supports USDS lending. Create an account, deposit your USDS, and select your lending terms. Review the APY offered and any associated fees. Platforms like Bitcompare can help you compare options to maximize your returns.
What factors influence USDS lending rates?: USDS lending rates are influenced by market demand, platform liquidity, and the overall cryptocurrency market conditions. Additionally, the duration of the loan and the borrower’s creditworthiness can also affect rates.
Are there risks involved in lending USDS?: Yes, lending USDS carries risks, including borrower defaults, platform security vulnerabilities, and market volatility. It's crucial to assess these risks and choose a platform with strong security measures and a good reputation, such as those listed on Bitcompare.
How does APY for USDS compare across platforms?: APY for USDS can differ widely among platforms, often due to varying demand and risk assessments. Bitcompare is a valuable resource for comparing APYs, helping you find the best lending opportunities tailored to your risk tolerance.
What is the minimum amount required to lend USDS?: Minimum lending amounts for USDS vary by platform, typically ranging from $10 to $100. Always check specific platform requirements before lending. Bitcompare can help you identify platforms with favorable minimums.
Can I withdraw my USDS while lending?: Generally, once you lend your USDS, it is locked for the duration of the loan term. Some platforms may offer flexible options, but this varies. Always review the terms on your chosen platform, and consult Bitcompare for detailed comparisons.
How often are lending rates for USDS updated?: Lending rates for USDS are usually updated in real-time or daily, depending on the platform. To stay informed, regularly check Bitcompare for the latest rates and trends across multiple lending platforms.
What are the tax implications of lending USDS?: Lending USDS may have tax implications, such as capital gains tax on interest earned. Tax laws vary by jurisdiction, so it's advisable to consult a tax professional for guidance. Bitcompare does not provide tax advice but can help you understand lending income.
Is it safe to lend USDS on decentralized platforms?: Lending USDS on decentralized platforms can offer higher returns but comes with increased risks, such as smart contract vulnerabilities. Always conduct thorough research and consider using Bitcompare to evaluate the security and reliability of these platforms.