How to Lend Binance-Peg DAI (DAI): A Step-by-Step Guide for South Africans

Introduction

Lending Binance-Peg 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 Binance-Peg DAI (DAI) Tokens
To lend Binance-Peg DAI, you first need to possess it. To acquire Binance-Peg DAI, you'll need to buy it. You can select from these well-known exchanges.
Platform Mint Cost
EarnPark Binance-Peg DAI (DAI) 1
YouHodler Binance-Peg DAI (DAI) 1
Kraken Binance-Peg DAI (DAI) 1
OKX Binance-Peg DAI (DAI) 1
Crypto.com Binance-Peg DAI (DAI) 1
Gate.io Binance-Peg DAI (DAI) 1
View all 22 prices
2. Select a Binance-Peg DAI Lender
Once you have DAI, you'll need to select a Binance-Peg DAI lending platform to lend your tokens. You can explore some options here.
Platform Mint APY
EarnPark Binance-Peg DAI (DAI) Up to 7% APY
YouHodler Binance-Peg DAI (DAI) Up to 20% APY
SwissBorg Binance-Peg DAI (DAI) Up to 4,81% APY
View all 8 lending APYs
3. Lend Your Binance-Peg DAI
Once you've selected a platform to lend your Binance-Peg DAI, transfer your Binance-Peg DAI into your wallet on the lending platform. Once it's deposited, it will begin to earn 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. Make sure your lending platform pays compounding interest to maximise your returns.

Platform	Mint	Cost
EarnPark	Binance-Peg DAI (DAI)	1
YouHodler	Binance-Peg DAI (DAI)	1
Kraken	Binance-Peg DAI (DAI)	1
OKX	Binance-Peg DAI (DAI)	1
Crypto.com	Binance-Peg DAI (DAI)	1
Gate.io	Binance-Peg DAI (DAI)	1

Platform	Mint	APY
EarnPark	Binance-Peg DAI (DAI)	Up to 7% APY
YouHodler	Binance-Peg DAI (DAI)	Up to 20% APY
SwissBorg	Binance-Peg DAI (DAI)	Up to 4,81% 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.