Introduction
Lending Dogecoin can be a great option for those who want to hold DOGE 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 Dogecoin (DOGE) tokens
In order to lend Dogecoin, you need to have it. To obtain Dogecoin, you’ll need to purchase it. You can choose from these popular exchanges.
See all 23 pricesPlatform Coin Price Nexo Dogecoin (DOGE) $0.135 Bitpanda Dogecoin (DOGE) $0.1339 Uphold Dogecoin (DOGE) $0.1336 Wirex Dogecoin (DOGE) $0.1346 EarnPark Dogecoin (DOGE) $0.1333 Klink Dogecoin (DOGE) $0.1337 2. Choose a Dogecoin lender
Once you have DOGE, you’ll need to choose a Dogecoin lending platform to lend your tokens. You can see some options here.
See all 11 lending ratesPlatform Coin Interest rate Nexo Dogecoin (DOGE) Up to 3% APY EarnPark Dogecoin (DOGE) Up to 7% APY MEXC Global Dogecoin (DOGE) Up to 1% APY Kucoin Dogecoin (DOGE) Up to 0.2916% APY 3. Lend your Dogecoin
Once you’ve chosen a platform to lending your Dogecoin, transfer your Dogecoin 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
Dogecoin (DOGE) is currently priced at $4.5 with a 24-hour trading volume of $1.76B. The market cap of Dogecoin stands at 19.66B, with $146.40B DOGE in circulation. For those looking to buy or trade Dogecoin, Nexo offers avenues to do so securely and efficiently.
- Market cap
- $19.66B
- 24h Volume
- $1.76B
- Circulating supply
- $146.40B
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