Introduction
Lending Bitcoin can be a great option for those who want to hold BTC 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 Bitcoin (BTC) tokens
In order to lend Bitcoin, you need to have it. To obtain Bitcoin, you’ll need to purchase it. You can choose from these popular exchanges.
See all 25 pricesPlatform Coin Price Bitpanda Bitcoin (BTC) $62,929 M2 Bitcoin (BTC) $62,892 Uphold Bitcoin (BTC) $62,966 YouHodler Bitcoin (BTC) $62,896 Wirex Bitcoin (BTC) $63,966 EarnPark Bitcoin (BTC) $62,982 2. Choose a Bitcoin lender
Once you have BTC, you’ll need to choose a Bitcoin lending platform to lend your tokens. You can see some options here.
See all 21 lending ratesPlatform Coin Interest rate Nexo Bitcoin (BTC) Up to 7% APY M2 Bitcoin (BTC) Up to 9% APY YouHodler Bitcoin (BTC) Up to 12% APY Wirex Bitcoin (BTC) Up to 14% APY EarnPark Bitcoin (BTC) Up to 15% APY Nebeus Bitcoin (BTC) Up to 4.5% APY 3. Lend your Bitcoin
Once you’ve chosen a platform to lending your Bitcoin, transfer your Bitcoin 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
Bitcoin (BTC) is currently priced at $2.5 with a 24-hour trading volume of $30.57B. The market cap of Bitcoin stands at 1.27T, with $19.77M BTC in circulation. For those looking to buy or trade Bitcoin, Nexo offers avenues to do so securely and efficiently.
- Market cap
- $1.27T
- 24h Volume
- $30.57B
- Circulating supply
- $19.77M
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