Earn up to
12% APY
An in-depth guide on how to lend Synthetix Network (SNX) in South Africa
We have a wealth of information on lending Synthetix Network (SNX), and we're excited to share some of this with you.
We present you with various lending options featuring other cryptocurrencies that may pique your interest.
Synthetix Network (SNX) is currently priced at US$0,23 with a 24-hour trading volume of US$38,11M. The market cap of Synthetix Network stands at US$614,86M, with 339,47M SNX in circulation. For those looking to buy or trade Synthetix Network, YouHodler offers avenues to do so securely and efficiently
Lending Synthetix Network can be an excellent choice for those looking to hold SNX 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.
To lend Synthetix Network, you first need to possess it. To acquire Synthetix Network, you'll need to buy it. You can select from these well-known exchanges.
Once you have SNX, you'll need to select a Synthetix Network lending platform to lend your tokens. You can explore some options here.
| Platform | Mint | APY |
|---|---|---|
| YouHodler | Synthetix Network (SNX) | Up to 12% APY |
| Aave | Synthetix Network (SNX) | Up to 0,23% APY |
| Bitget | Synthetix Network (SNX) | Up to 1,5% APY |
| Blockchain.com | Synthetix Network (SNX) | Up to 15% APY |
Once you've selected a platform to lend your Synthetix Network, transfer your Synthetix Network 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.
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.
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.
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