Introduction
Lending Kusama can be a great option for those who want to hold KSM 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 Kusama (KSM) tokens
In order to lend Kusama, you need to have it. To obtain Kusama, you’ll need to purchase it. You can choose from these popular exchanges.
See all 18 pricesPlatform Coin Price Nexo Kusama (KSM) $17.61 Bitpanda Kusama (KSM) $17.91 Wirex Kusama (KSM) $17.72 Uphold Kusama (KSM) $17.78 Kraken Kusama (KSM) $17.73 OKX Kusama (KSM) $17.6 2. Choose a Kusama lender
Once you have KSM, you’ll need to choose a Kusama lending platform to lend your tokens. You can see some options here.
See all 4 lending ratesPlatform Coin Interest rate Nexo Kusama (KSM) Up to 12% APY Kucoin Kusama (KSM) Up to 0.5% APY Bitget Kusama (KSM) Up to 6% APY 3. Lend your Kusama
Once you’ve chosen a platform to lending your Kusama, transfer your Kusama 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
Kusama (KSM) is currently priced at $12 with a 24-hour trading volume of $19.72M. The market cap of Kusama stands at 277.57M, with $15.65M KSM in circulation. For those looking to buy or trade Kusama, Nexo offers avenues to do so securely and efficiently.
- Market cap
- $277.57M
- 24h Volume
- $19.72M
- Circulating supply
- $15.65M