How to Lend VeChain (VET)

Introduction

Lending VeChain can be an excellent choice for those looking to hold VET 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 VeChain (VET) Tokens

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

   Platform	Mint	Cost
   Nexo	VeChain (VET)	0,01
   PrimeXBT	VeChain (VET)	0,01
   YouHodler	VeChain (VET)	0,01
   Binance	VeChain (VET)	0,01
   Coinbase	VeChain (VET)	0,01
   Uphold	VeChain (VET)	0,02

   View all 46 prices

2. 2. Select a VeChain Lender

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

   Platform	Mint	APY
   YouHodler	VeChain (VET)	Up to 30% APY
   Kucoin	VeChain (VET)	Up to 0,5% APY

   View all 4 lending APYs

3. 3. Lend Your VeChain

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