How to Lend Chainlink (LINK): A Step-by-Step Guide for South Africans

Introduction

Lending Chainlink can be an excellent choice for those looking to hold LINK 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 Chainlink (LINK) Tokens
To lend Chainlink, you first need to possess it. To acquire Chainlink, you'll need to buy it. You can select from these well-known exchanges.
Platform Mint Cost
Nexo Chainlink (LINK) 13,18
PrimeXBT Chainlink (LINK) 13,15
YouHodler Chainlink (LINK) 13,14
Binance Chainlink (LINK) 13,15
BTSE Chainlink (LINK) 13,14
View all 73 prices
2. Select a Chainlink Lender
Once you have LINK, you'll need to select a Chainlink lending platform to lend your tokens. You can explore some options here.
Platform Mint APY
Nexo Chainlink (LINK) Up to 7% APY
EarnPark Chainlink (LINK) Up to 5% APY
YouHodler Chainlink (LINK) Up to 12% APY
Aave Chainlink (LINK) Up to 0,03% APY
View all 19 lending APYs
3. Lend Your Chainlink
Once you've selected a platform to lend your Chainlink, transfer your Chainlink 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
Nexo	Chainlink (LINK)	13,18
PrimeXBT	Chainlink (LINK)	13,15
YouHodler	Chainlink (LINK)	13,14
Binance	Chainlink (LINK)	13,15
BTSE	Chainlink (LINK)	13,14

Platform	Mint	APY
Nexo	Chainlink (LINK)	Up to 7% APY
EarnPark	Chainlink (LINK)	Up to 5% APY
YouHodler	Chainlink (LINK)	Up to 12% APY
Aave	Chainlink (LINK)	Up to 0,03% 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.