How to Lend Merlin Chain (MERL)

Introduction

Lending Merlin Chain can be an excellent choice for those looking to hold MERL 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 Merlin Chain (MERL) Tokens

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

   Platform	Mint	Cost
   Kraken	Merlin Chain (MERL)	0,2
   OKX	Merlin Chain (MERL)	0,2
   BTSE	Merlin Chain (MERL)	0,07
   BingX	Merlin Chain (MERL)	0,2
   Bitget	Merlin Chain (MERL)	0,2
   Bitmart	Merlin Chain (MERL)	0,2

   View all 29 prices

2. 2. Select a Merlin Chain Lender

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

   Platform	Mint	APY
   Bitget	Merlin Chain (MERL)	Up to 0,8% APY
   Kucoin	Merlin Chain (MERL)	Up to 0,5% APY

3. 3. Lend Your Merlin Chain

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