How to Lend Sonic (prev. FTM) (S): A Step-by-Step Guide for South Africans

Introduction

Lending Sonic (prev. FTM) can be an excellent choice for those looking to hold S 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 Sonic (prev. FTM) (S) Tokens

To lend Sonic (prev. FTM), you first need to possess it. To acquire Sonic (prev. FTM), you'll need to buy it. You can select from these well-known exchanges.

Platform	Mint	Cost
Nexo	Sonic (prev. FTM) (S)	0,07
PrimeXBT	Sonic (prev. FTM) (S)	0,07
YouHodler	Sonic (prev. FTM) (S)	0,07
Binance	Sonic (prev. FTM) (S)	0,07
Coinbase	Sonic (prev. FTM) (S)	0,07
Kraken	Sonic (prev. FTM) (S)	0,07

View all 41 prices

2. Select a Sonic (prev. FTM) Lender
Once you have S, you'll need to select a Sonic (prev. FTM) lending platform to lend your tokens. You can explore some options here.
Platform Mint APY
YouHodler Sonic (prev. FTM) (S) Up to 30% APY
Kucoin Sonic (prev. FTM) (S) Up to 4,5% APY
3. Lend Your Sonic (prev. FTM)
Once you've selected a platform to lend your Sonic (prev. FTM), transfer your Sonic (prev. FTM) 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	Sonic (prev. FTM) (S)	Up to 30% APY
Kucoin	Sonic (prev. FTM) (S)	Up to 4,5% 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.