Where & how to lend UMA (UMA)

Introduction

Lending UMA can be a great option for those who want to hold UMA 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. 1. Obtain UMA (UMA) tokens

   In order to lend UMA, you need to have it. To obtain UMA, you’ll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Bitpanda	UMA (UMA)	$2.69
   Wirex	UMA (UMA)	$2.68
   Uphold	UMA (UMA)	$2.66
   Kraken	UMA (UMA)	$2.66
   OKX	UMA (UMA)	$2.69
   Binance	UMA (UMA)	$2.77

   See all 17 prices

2. 2. Choose a UMA lender

   Once you have UMA, you’ll need to choose a UMA lending platform to lend your tokens. You can see some options here.

   Platform	Coin	Interest rate
   Kucoin	UMA (UMA)	Up to 0.5% APY
   OKX	UMA (UMA)	Up to 1% APY

3. 3. Lend your UMA

   Once you’ve chosen a platform to lending your UMA, transfer your UMA 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. 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.