Where & how to lend BeFi Labs (BEFI)

Introduction

Lending BeFi Labs can be a great option for those who want to hold BEFI 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 BeFi Labs (BEFI) tokens

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

   Platform	Coin	Price
   Bitpanda	BeFi Labs (BEFI)	$0.0232
   Bitmart	BeFi Labs (BEFI)	$0.0241
   BingX	BeFi Labs (BEFI)	$0.023
   MEXC Global	BeFi Labs (BEFI)	$0.0242
   Kucoin	BeFi Labs (BEFI)	$0.023
   Bitget	BeFi Labs (BEFI)	$0.0232

   See all 6 prices

2. 2. Choose a BeFi Labs lender

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

   Platform	Coin	Interest rate
   Bitget	BeFi Labs (BEFI)	Up to 1% APY

3. 3. Lend your BeFi Labs

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