How to Lend dYdX (Wormhole) (DYDX)

Introduction

Lending dYdX (Wormhole) can be an excellent choice for those looking to hold DYDX 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 dYdX (Wormhole) (DYDX) Tokens

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

   Platform	Mint	Cost
   Nexo	dYdX (Wormhole) (DYDX)	0,66
   Binance	dYdX (Wormhole) (DYDX)	0,66
   BTSE	dYdX (Wormhole) (DYDX)	0,64
   Kraken	dYdX (Wormhole) (DYDX)	0,66
   OKX	dYdX (Wormhole) (DYDX)	0,67
   Uphold	dYdX (Wormhole) (DYDX)	0,58

   View all 46 prices

2. 2. Select a dYdX (Wormhole) Lender

   Once you have DYDX, you'll need to select a dYdX (Wormhole) lending platform to lend your tokens. You can explore some options here.

   Platform	Mint	APY
   Kucoin	dYdX (Wormhole) (DYDX)	Up to 0,5% APY
   MEXC Global	dYdX (Wormhole) (DYDX)	Up to 0,8% APY

   View all 4 lending APYs

3. 3. Lend Your dYdX (Wormhole)

   Once you've selected a platform to lend your dYdX (Wormhole), transfer your dYdX (Wormhole) 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.