Introduction
Lending Polygon can be a great option for those who want to hold MATIC 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 Polygon (MATIC) Tokens
In order to lend Polygon, you need to have it. To obtain Polygon, you’ll need to purchase it. You can choose from these popular exchanges.
See all 23 pricesPlatform Coin Price Nexo Polygon (MATIC) 0.40 Bitpanda Polygon (MATIC) 0.37 Uphold Polygon (MATIC) 0.52 Wirex Polygon (MATIC) 0.31 EarnPark Polygon (MATIC) 0.31 2. Choose a Polygon Lender
Once you have MATIC, you’ll need to choose a Polygon lending platform to lend your tokens. You can see some options here.
See all 13 lending ratesPlatform Coin Interest rate Nexo Polygon (MATIC) Up to 7.00 APY Wirex Polygon (MATIC) Up to 4.50 APY EarnPark Polygon (MATIC) Up to 5.00 APY Nebeus Polygon (MATIC) Up to 10.50 APY YouHodler Polygon (MATIC) Up to 16.00 APY 3. Lend Your Polygon
Once you’ve chosen a platform to lending your Polygon, transfer your Polygon 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
Polygon (MATIC) is currently priced at $4.20 with a 24-hour trading volume of $3.97M. The market cap of Polygon stands at $806.18M, with $2.64B MATIC in circulation. For those looking to buy or trade Polygon, Nexo offers avenues to do so securely and efficiently}
- Market cap
- $806.18M
- 24h volume
- $3.97M
- Circulating supply
- $2.64B