How to Lend Shiba Inu (SHIB): A Step-by-Step Guide for South Africans

Introduction

Lending Shiba Inu can be an excellent choice for those looking to hold SHIB 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. Acquire Shiba Inu (SHIB) Tokens

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

Platform	Mint	Cost
YouHodler	Shiba Inu (SHIB)	0,000008438
Binance	Shiba Inu (SHIB)	0,00000844
BTSE	Shiba Inu (SHIB)	0,00000846
OKX	Shiba Inu (SHIB)	0,00001234
Uphold	Shiba Inu (SHIB)	0,00001307
Bake	Shiba Inu (SHIB)	0,00000842

View all 42 prices

2. Select a Shiba Inu Lender
Once you have SHIB, you'll need to select a Shiba Inu lending platform to lend your tokens. You can explore some options here.
Platform Mint APY
YouHodler Shiba Inu (SHIB) Up to 16% APY
CEX.io Shiba Inu (SHIB) Up to 1% APY
View all 6 lending APYs
3. Lend Your Shiba Inu
Once you've selected a platform to lend your Shiba Inu, transfer your Shiba Inu 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. 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.

Platform	Mint	APY
YouHodler	Shiba Inu (SHIB)	Up to 16% APY
CEX.io	Shiba Inu (SHIB)	Up to 1% APY

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.