Introduction
Lending Monero can be a great option for those who want to hold XMR 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 Monero (XMR) tokens
In order to lend Monero, you need to have it. To obtain Monero, you’ll need to purchase it. You can choose from these popular exchanges.
See all 10 pricesPlatform Coin Price Kraken Monero (XMR) $156.95 PrimeXBT Monero (XMR) $119.1 Binance Monero (XMR) $0 BTSE Monero (XMR) $157.6 BingX Monero (XMR) $161.9 Bitmart Monero (XMR) $157.31 2. Choose a Monero lender
Once you have XMR, you’ll need to choose a Monero lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate Kucoin Monero (XMR) Up to 0.435% APY 3. Lend your Monero
Once you’ve chosen a platform to lending your Monero, transfer your Monero 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
Monero (XMR) is currently priced at $0.435 with a 24-hour trading volume of $46.30M. The market cap of Monero stands at 2.89B, with $18.45M XMR in circulation. For those looking to buy or trade Monero, Kucoin offers avenues to do so securely and efficiently.
- Market cap
- $2.89B
- 24h Volume
- $46.30M
- Circulating supply
- $18.45M