Where and How to Lend Spell (SPELL)

Introduction

Lending Spell can be a great option for those who want to hold SPELL 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. 1. Obtain Spell (SPELL) Tokens

   In order to lend Spell, you need to have it. To obtain Spell, you’ll need to purchase it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Uphold	Spell (SPELL)	0.0008
   Kraken	Spell (SPELL)	0.0008
   Binance	Spell (SPELL)	0.0008
   Coinbase	Spell (SPELL)	0.0008
   Bitmart	Spell (SPELL)	0.0008

   See all 14 prices

2. 2. Choose a Spell Lender

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

   Platform	Coin	Interest rate
   OKX	Spell (SPELL)	Up to 1 APY

3. 3. Lend Your Spell

   Once you’ve chosen a platform to lending your Spell, transfer your Spell 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. 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.