How to Lend Dai (DAI): A Step-by-Step Guide

Introduction

Lending Dai can be a great option for those who want to hold DAI 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 Dai (DAI) Tokens
In order to lend Dai, you need to have it. To obtain Dai, you’ll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Uphold Dai (DAI) 1
Klink Dai (DAI) 1
See all 13 prices
2. Choose a Dai Lender
Once you have DAI, you’ll need to choose a Dai lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate
Nexo Dai (DAI) Up to 14 APY
Bitget Dai (DAI) Up to 5 APY
Aave Dai (DAI) Up to 11.64 APY
Wirex Dai (DAI) Up to 16 APY
Blockchain.com Dai (DAI) Up to 10 APY
See all 10 lending rates
3. Lend Your Dai
Once you’ve chosen a platform to lending your Dai, transfer your Dai 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.

Platform	Coin	Price
Uphold	Dai (DAI)	1
Klink	Dai (DAI)	1

Platform	Coin	Interest rate
Nexo	Dai (DAI)	Up to 14 APY
Bitget	Dai (DAI)	Up to 5 APY
Aave	Dai (DAI)	Up to 11.64 APY
Wirex	Dai (DAI)	Up to 16 APY
Blockchain.com	Dai (DAI)	Up to 10 APY

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

Dai (DAI) is currently priced at $16 with a 24-hour trading volume of $106.64M. The market cap of Dai stands at $3.27B, with $3.27B DAI in circulation. For those looking to buy or trade Dai, Nexo offers avenues to do so securely and efficiently}

Market cap: $3.27B
24h volume: $106.64M
Circulating supply: $3.27B

See latest information

Frequently Asked Questions About Lending Dai (DAI)

What factors determine Dai lending rates?: Dai lending rates are influenced by market demand, borrowing volumes, and liquidity within the DeFi ecosystem. Staying informed of these factors can help you understand rate fluctuations. Use Bitcompare's tools for real-time comparisons, email alerts, and sentiment analysis to keep abreast of changes.
Where can I find the current Dai lending rates?: You can find the current Dai lending rates on Bitcompare, a leading crypto comparison platform. Our tools provide real-time comparisons, so you'll always know the best rates. Bookmark the page and check regularly to stay informed.
How often do Dai lending rates change?: Dai lending rates can change frequently due to market dynamics and supply-demand factors. To stay updated, use Bitcompare's real-time price comparisons and alerts, enabling you to react swiftly to changes in the market.
Can I receive alerts for changes in Dai lending rates?: Yes, by using Bitcompare's email alerts, you can receive timely notifications of changes in Dai lending rates. This ensures you're always aware of any fluctuations that could impact your decisions.
How can I ensure I'm getting the best Dai lending rate?: To ensure the best Dai lending rate, regularly check Bitcompare for real-time comparison of rates across multiple platforms. Utilize our sentiment analysis and news updates to make well-informed decisions.
Are there factors besides interest rates to consider in Dai lending?: Besides rates, consider platform reliability, fees, and liquidity. Bitcompare offers comprehensive insights and comparisons across exchanges to help you evaluate these factors efficiently and effectively.
How does Bitcompare help with Dai lending decisions?: Bitcompare offers real-time Dai rate comparisons, email alerts, and sentiment analysis. These tools help you stay informed about rate changes and market sentiment, enabling well-informed decisions. Bookmark and visit regularly to stay ahead.
Is it possible to know future Dai lending trends?: While future trends can't be precisely forecasted, staying informed through Bitcompare's analysis tools and news updates enables you to anticipate possible market movements and adapt your strategy accordingly.