How to Lend Dai (DAI): A Step-by-Step Guide

Introduction

Lending Dai can be a great option for those who want to hold DAI but earn yield. The steps can be a bit daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-step guide

1. Obtain Dai (DAI) Tokens
To lend Dai, you need to have it. To get Dai, you’ll need to buy it. You can pick from these popular exchanges.
Platform Coin Price
Uphold Dai (DAI) 1
Bitget Dai (DAI) 1
See all 25 prices
2. Choose a Dai Lender
Once you have DAI, you’ll need to choose a Dai lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate
Nexo Dai (DAI) Up to 14 APY
Aave Dai (DAI) Up to 11.64 APY
Bitget Dai (DAI) Up to 5 APY
Blockchain.com Dai (DAI) Up to 10 APY
Wirex Dai (DAI) Up to 16 APY
See all 18 lending rates
3. Lend Your Dai
Once you’ve chosen a platform to lend your Dai, transfer your Dai into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others pay weekly, or monthly.
4. Earn Interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compound interest to maximise your returns.

Platform	Coin	Price
Uphold	Dai (DAI)	1
Bitget	Dai (DAI)	1

Platform	Coin	Interest rate
Nexo	Dai (DAI)	Up to 14 APY
Aave	Dai (DAI)	Up to 11.64 APY
Bitget	Dai (DAI)	Up to 5 APY
Blockchain.com	Dai (DAI)	Up to 10 APY
Wirex	Dai (DAI)	Up to 16 APY

What to be Aware of

Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.

Latest Movements

Dai (DAI) is presently priced at US$4.15 with a 24-hour trading volume of US$147.11M. The market cap of Dai stands at US$3.41B, with 3.41B DAI in circulation. For those interested in buying or trading Dai, Nexo offers ways to do so safely and efficiently

Market cap: US$3.41B
24h trading volume: US$147.11M
Circulating supply: 3.41B DAI

See the latest information

Frequently Asked Questions About Borrowing Dai (DAI)

What are the current lending rates for Dai (DAI)?: The current lending rates for Dai (DAI) vary across different platforms. As of now, there are a total of 10 lending rates available, with the best rate being offered on AQRU. However, specific numerical rates are not currently available. It is important to stay informed about these rates, as they can fluctuate based on market conditions. For the most accurate and up-to-date information, consider checking Bitcompare regularly.
How can I find the best lending rates for Dai (DAI)?: To find the best lending rates for Dai (DAI), you can utilize platforms like Bitcompare, which offers real-time price comparisons and aggregates lending rates from various sources. Bitcompare highlights the best available rates, making it easier for users to identify the most competitive options. Additionally, you can set up email rate alerts to stay informed about any changes in lending rates for Dai, ensuring you never miss an opportunity to maximize your returns.
What factors influence the lending rates for Dai (DAI)?: Lending rates for Dai (DAI) are influenced by several factors, including market demand, supply dynamics, and overall liquidity in the DeFi ecosystem. Additionally, the specific platform offering the loan can impact rates, as each platform may have different risk assessments and operational costs. Economic conditions, such as interest rate trends in traditional finance, can also affect the rates for Dai lending. Staying updated with market sentiment analysis on Bitcompare can help you better understand these fluctuations.
Are there any risks associated with lending Dai (DAI)?: Yes, there are risks associated with lending Dai (DAI), as with any investment in the cryptocurrency space. Key risks include smart contract vulnerabilities, market volatility, and the potential for liquidity issues on lending platforms. Additionally, if the platform you choose encounters operational problems or insolvency, you may lose your funds. It is important to conduct thorough research on the lending platform's security measures and to stay informed about the latest developments in the Dai ecosystem through Bitcompare.
How can I effectively lend my Dai (DAI)?: To lend your Dai (DAI) effectively, start by researching various lending platforms that support Dai, such as AQRU and others listed on Bitcompare. Compare the lending rates, terms, and reputations of the platforms to find the best option. Ensure you understand the risks involved and consider diversifying your lending across multiple platforms to mitigate potential losses. Additionally, set up email alerts on Bitcompare to track changes in rates, ensuring you can respond to market shifts promptly and maximize your lending returns.