Introduction
Lending BinaryX can be a great option for those who wish to hold BNX but earn interest. The steps can be a bit intimidating, especially the first time you attempt them. That's why we have compiled this guide for you.
Step-by-Step Guide
1. Acquire BinaryX (BNX) Tokens
To lend BinaryX, you need to have it. To obtain BinaryX, you’ll need to buy it. You can choose from these popular exchanges.
See all 13 pricesPlatform Coin Price Bake BinaryX (BNX) 5.63 BingX BinaryX (BNX) 1.96 Bitget BinaryX (BNX) 1.79 Bitmart BinaryX (BNX) 1.49 Bitpanda BinaryX (BNX) 0.57 LBank BinaryX (BNX) 1.14 2. Select a BinaryX Lender
Once you have BNX, you’ll need to choose a BinaryX lending platform to lend your tokens. You can see some options here.
3. Lend Your BinaryX
After you have selected a platform for lending your BinaryX, transfer your BinaryX into your wallet on the lending platform. Once it is deposited, it will begin earning interest. Some platforms pay interest on a daily basis, while others do so weekly or monthly.
4. Earn Interest
Now all you have to do is relax while your crypto earns interest. The more you deposit, the more interest you can earn. Make sure your lending platform pays compounding interest to maximise your returns.
What to Keep in Mind
Lending your crypto can be risky. Ensure that you do your research before depositing your crypto. Don’t lend more than you’re prepared to lose. Verify their lending practices, reviews, and how they secure your cryptocurrency.
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