Introduction
Lending Shiba Inu can be a great option for those who want to hold SHIB 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 Shiba Inu (SHIB) tokens
In order to lend Shiba Inu, you need to have it. To obtain Shiba Inu, you’ll need to purchase it. You can choose from these popular exchanges.
See all 21 pricesPlatform Coin Price Bitpanda Shiba Inu (SHIB) $0.00001305 M2 Shiba Inu (SHIB) $0.00001303 YouHodler Shiba Inu (SHIB) $0.00001304 Uphold Shiba Inu (SHIB) $0.00001429 Wirex Shiba Inu (SHIB) $0.00001315 Kraken Shiba Inu (SHIB) $0.00001304 2. Choose a Shiba Inu lender
Once you have SHIB, you’ll need to choose a Shiba Inu lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate M2 Shiba Inu (SHIB) Up to 3.5% APY 3. Lend your Shiba Inu
Once you’ve chosen a platform to lending your Shiba Inu, transfer your Shiba Inu 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
Shiba Inu (SHIB) is currently priced at $0.00001311 with a 24-hour trading volume of $49.38K. In the last 24 hours, Shiba Inu has experienced a decrease of -1.8%. The market cap of Shiba Inu stands at 1.98M, with $993.69M SHIB in circulation. For those looking to buy or trade Shiba Inu, reputable platforms like Bitpanda, M2 and YouHodler offer avenues to do so securely and efficiently.
- Market cap
- $1.98M
- 24h Volume
- $49.38K
- Circulating supply
- $993.69M