Introduction
Lending Polkadot can be a great option for those who want to hold DOT 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 Polkadot (DOT) tokens
In order to lend Polkadot, you need to have it. To obtain Polkadot, you’ll need to purchase it. You can choose from these popular exchanges.
See all 23 pricesPlatform Coin Price Bitpanda Polkadot (DOT) $4.09 M2 Polkadot (DOT) $4.08 YouHodler Polkadot (DOT) $4.08 Uphold Polkadot (DOT) $4.69 Wirex Polkadot (DOT) $4.1 EarnPark Polkadot (DOT) $4.07 2. Choose a Polkadot lender
Once you have DOT, you’ll need to choose a Polkadot lending platform to lend your tokens. You can see some options here.
See all 10 lending ratesPlatform Coin Interest rate Nexo Polkadot (DOT) Up to 15% APY YouHodler Polkadot (DOT) Up to 16% APY EarnPark Polkadot (DOT) Up to 12% APY Klink Polkadot (DOT) Up to 12% APY 3. Lend your Polkadot
Once you’ve chosen a platform to lending your Polkadot, transfer your Polkadot 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
Polkadot (DOT) is currently priced at $4.07 with a 24-hour trading volume of $143.04M. In the last 24 hours, Polkadot has seen an increase of 2.26%. The market cap of Polkadot stands at 5.73B, with $1.41B DOT in circulation. For those looking to buy or trade Polkadot, reputable platforms like Bitpanda, M2 and YouHodler offer avenues to do so securely and efficiently.
- Market cap
- $5.73B
- 24h Volume
- $143.04M
- Circulating supply
- $1.41B