How to Lend Optimism (OP)

Introduction

Lending Optimism can be an excellent choice for those looking to hold OP 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 Optimism (OP) Tokens

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

   Platform	Mint	Cost
   Nexo	Optimism (OP)	0,32
   PrimeXBT	Optimism (OP)	0,32
   YouHodler	Optimism (OP)	0,32
   Binance	Optimism (OP)	0,32
   BTSE	Optimism (OP)	0,32
   OKX	Optimism (OP)	0,72

   View all 45 prices

2. 2. Select a Optimism Lender

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

   Platform	Mint	APY
   Aave	Optimism (OP)	Up to 0,07% APY
   Bitget	Optimism (OP)	Up to 1,2% APY
   CEX.io	Optimism (OP)	Up to 1,5% APY

   View all 9 lending APYs

3. 3. Lend Your Optimism

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