Introduction

Lending PHOENIX can be a great option for those who wish to hold phx but earn interest. The steps can be a bit intimidating, especially the first time you attempt them. That's why we have compiled this guide for you.

Step-by-Step Guide

1. 1. Acquire PHOENIX (phx) Tokens

   To lend PHOENIX, you need to have it. To obtain PHOENIX, you’ll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Price
   CoinEx	PHOENIX (phx)	0.43
   Bitpanda	PHOENIX (phx)	2.11
   Bybit	PHOENIX (phx)	0.44
   Phemex	PHOENIX (phx)	0.44

   See all 7 prices

2. 2. Select a PHOENIX Lender

   Once you have phx, you’ll need to choose a PHOENIX lending platform to lend your tokens. You can see some options here.

3. 3. Lend Your PHOENIX

   After you have selected a platform for lending your PHOENIX, transfer your PHOENIX into your wallet on the lending platform. Once it is deposited, it will begin earning interest. Some platforms pay interest on a daily basis, while others do so weekly or monthly.

4. 4. Earn Interest

   Now all you have to do is relax while your crypto earns interest. The more you deposit, the more interest you can earn. Make sure your lending platform pays compounding interest to maximise your returns.

What to Keep in Mind

Lending your crypto can be risky. Ensure that you do your research before depositing your crypto. Don’t lend more than you’re prepared to lose. Verify their lending practices, reviews, and how they secure your cryptocurrency.