Introduction
Lending Cardano can be a great option for those who want to hold ADA but earn yield. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-step
1. Obtain Cardano (ADA) tokens
In order to lend Cardano, you need to have it. To obtain Cardano, you’ll need to purchase it. You can choose from these popular exchanges.
See all 21 pricesPlatform Coin Price M2 Cardano (ADA) $0.3254 YouHodler Cardano (ADA) $0.3255 Uphold Cardano (ADA) $0.3741 Wirex Cardano (ADA) $0.3275 Kraken Cardano (ADA) $0.3249 2. Choose a Cardano lender
Once you have ADA, you’ll need to choose a Cardano lending platform to lend your tokens. You can see some options here.
See all 8 lending ratesPlatform Coin Interest rate Nexo Cardano (ADA) Up to 8% APY YouHodler Cardano (ADA) Up to 11% APY OKX Cardano (ADA) Up to 1% APY 3. Lend your Cardano
Once you’ve chosen a platform to lending your Cardano, transfer your Cardano into your wallet in the lending platform. Once it’s deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.
4. Earn interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your lending platform pays compounding interest to maximise your returns.
What to be aware of
Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don’t lend more than you’re willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.
Latest movements
Cardano (ADA) is currently priced at $0.3246 with a 24-hour trading volume of $231.44M. The market cap of Cardano stands at 11.60B, with $35.66B ADA in circulation. For those looking to buy or trade Cardano, reputable platforms like M2, YouHodler and Wirex offer avenues to do so securely and efficiently.
- Market cap
- $11.60B
- 24h Volume
- $231.44M
- Circulating supply
- $35.66B