How to Lend Wrapped AVAX (WAVAX)

Introduction

Lending Wrapped AVAX can be an excellent choice for those looking to hold WAVAX 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 Wrapped AVAX (WAVAX) Tokens

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

2. 2. Select a Wrapped AVAX Lender

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

   Platform	Mint	APY
   Aave	Wrapped AVAX (WAVAX)	Up to 1,87% APY

3. 3. Lend Your Wrapped AVAX

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