How to Lend Frax Share (FXS)

Introduction

Lending Frax Share can be an excellent choice for those looking to hold FXS 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 Frax Share (FXS) Tokens

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

   Platform	Mint	Cost
   Nexo	Frax Share (FXS)	2,79
   Uphold	Frax Share (FXS)	3,04
   Kraken	Frax Share (FXS)	2,65
   OKX	Frax Share (FXS)	2,66
   Binance	Frax Share (FXS)	2,66
   BingX	Frax Share (FXS)	2,66

   View all 44 prices

2. 2. Select a Frax Share Lender

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

   Platform	Mint	APY
   Aave	Frax Share (FXS)	Up to 0% APY
   Kucoin	Frax Share (FXS)	Up to 0,5% APY

   View all 4 lending APYs

3. 3. Lend Your Frax Share

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