Introduction
Lending Fantom can be a great option for those who want to hold ftm 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 Guide
1. Obtain Fantom (ftm) Tokens
In order to lend Fantom, you need to have it. To obtain Fantom, you'll need to purchase it. You can choose from these popular exchanges.
2. Choose a Fantom Lender
Once you have ftm, you'll need to choose a Fantom lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate Nebeus Fantom (ftm) Up to 4.5% APY 3. Earn Fantom
Once you've chosen a platform to earn your Fantom, transfer your Fantom into your wallet in the earning 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 earning 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.
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