How to Lend Nimiq (NIM)

Introduction

Lending Nimiq can be an excellent choice for those looking to hold NIM 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 Nimiq (NIM) Tokens

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

   Platform	Mint	Cost
   CoinEx	Nimiq (NIM)	0,0005485
   Gate.io	Nimiq (NIM)	0,0005546
   HTX	Nimiq (NIM)	0
   MEXC Global	Nimiq (NIM)	0,000554

   View all 8 prices

2. 2. Select a Nimiq Lender

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

   Platform	Mint	APY
   Kucoin	Nimiq (NIM)	Up to 16% APY

3. 3. Lend Your Nimiq

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