Introduction
Lending SKALE can be a great option for those who want to hold SKL 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 SKALE (SKL) tokens
In order to lend SKALE, you need to have it. To obtain SKALE, you’ll need to purchase it. You can choose from these popular exchanges.
See all 14 pricesPlatform Coin Price Bitpanda SKALE (SKL) $0.0381 Uphold SKALE (SKL) $0.0378 OKX SKALE (SKL) $0.0381 Binance SKALE (SKL) $0.0378 Coinbase SKALE (SKL) $0.0381 BTSE SKALE (SKL) $0.039 2. Choose a SKALE lender
Once you have SKL, you’ll need to choose a SKALE lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate Kucoin SKALE (SKL) Up to 0.5% APY Bitget SKALE (SKL) Up to 1% APY 3. Lend your SKALE
Once you’ve chosen a platform to lending your SKALE, transfer your SKALE 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
SKALE (SKL) is currently priced at $0.01 with a 24-hour trading volume of $27.21M. The market cap of SKALE stands at 197.06M, with $5.18B SKL in circulation. For those looking to buy or trade SKALE, Kucoin offers avenues to do so securely and efficiently.
- Market cap
- $197.06M
- 24h Volume
- $27.21M
- Circulating supply
- $5.18B