How to Lend Dai (DAI)

Introduction

Lending 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. 1. Acquire Dai (DAI) Tokens

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

   Platform	Mint	Cost
   Uphold	Dai (DAI)	1
   BingX	Dai (DAI)	1

   View all 26 prices

2. 2. Select a Dai Lender

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

   Platform	Mint	APY
   Nexo	Dai (DAI)	Up to 14% APY
   Aave	Dai (DAI)	Up to 11,64% APY
   AQRU	Dai (DAI)	Up to 6% APY
   Bitget	Dai (DAI)	Up to 5% APY
   Blockchain.com	Dai (DAI)	Up to 3,75% APY

   View all 22 lending APYs

3. 3. Lend Your Dai

   Once you've selected a platform to lend your Dai, transfer your 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. 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.

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.