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 Guide
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 80 pricesPlatform Coin Price Nexo Bitcoin (BTC) 117,855.54 PrimeXBT Bitcoin (BTC) 117,810.6 EarnPark Bitcoin (BTC) 117,890.01 YouHodler Bitcoin (BTC) 117,855.66 Uphold Bitcoin (BTC) 105,584.72 Kraken Bitcoin (BTC) 117,966.18 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 27 lending ratesPlatform Coin Interest rate Nexo Bitcoin (BTC) Up to 7% APY Nebeus Bitcoin (BTC) Up to 4.5% APY YouHodler Bitcoin (BTC) Up to 500% APY Xapo Bank Bitcoin (BTC) Up to 3.9% APY EarnPark Bitcoin (BTC) Up to 15% APY Neverless Bitcoin (BTC) Up to 7.25% 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 $2.25 with a 24-hour trading volume of $1,281.91. The market cap of Bitcoin stands at $1.06M, with 2.46M BTC in circulation. For those looking to buy or trade Bitcoin, Nexo offers avenues to do so securely and efficiently}
- Market cap
- $1.06M
- 24h volume
- $1,281.91
- Circulating supply
- 2.46M BTC
Frequently Asked Questions About Lending Bitcoin (BTC)
- What are Bitcoin (BTC) lending rates, and how do they work?
- Bitcoin lending rates refer to the interest rates charged by platforms when borrowing Bitcoin or the rates offered for lending your Bitcoin. These rates can vary significantly across different platforms. For instance, there are currently 15 lending rates available for Bitcoin, with the best rate offered by Neverless. Staying informed about these rates is crucial for making sound lending decisions. Regularly checking platforms like Bitcompare can help you compare rates in real time.