How to Lend Polygon (MATIC)

Introduction

Lending Polygon can be an excellent choice for those looking to hold MATIC 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 Polygon (MATIC) Tokens

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

   Platform	Mint	Cost
   Coinbase	Polygon (MATIC)	0,24
   Kraken	Polygon (MATIC)	0,23
   Luno	Polygon (MATIC)	0,6
   BingX	Polygon (MATIC)	0,37
   Bitfinex	Polygon (MATIC)	0,22

   View all 22 prices

2. 2. Select a Polygon Lender

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

   Platform	Mint	APY
   Nebeus	Polygon (MATIC)	Up to 13% APY
   Coinbase	Polygon (MATIC)	Up to 2,91% APY
   Gemini	Polygon (MATIC)	Up to 0,01% APY
   Kucoin	Polygon (MATIC)	Up to 5% APY

   View all 11 lending APYs

3. 3. Lend Your Polygon

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