How to Lend yearn.finance (YFI)

Introduction

Lending yearn.finance can be an excellent choice for those looking to hold YFI 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 yearn.finance (YFI) Tokens

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

   Platform	Mint	Cost
   Nexo	yearn.finance (YFI)	3 379,44
   YouHodler	yearn.finance (YFI)	3 374,65
   Binance	yearn.finance (YFI)	3 376
   BTSE	yearn.finance (YFI)	3 371,97
   Coinbase	yearn.finance (YFI)	3 372,27
   Kraken	yearn.finance (YFI)	3 343

   View all 62 prices

2. 2. Select a yearn.finance Lender

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

   Platform	Mint	APY
   YouHodler	yearn.finance (YFI)	Up to 12% APY
   Blockchain.com	yearn.finance (YFI)	Up to 1% APY

   View all 8 lending APYs

3. 3. Lend Your yearn.finance

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