Introduction
Lending Synthetix Network can be a great option for those who want to hold SNX 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 Synthetix Network (SNX) Tokens
In order to lend Synthetix Network, you need to have it. To obtain Synthetix Network, you’ll need to purchase it. You can choose from these popular exchanges.
2. Choose a Synthetix Network Lender
Once you have SNX, you’ll need to choose a Synthetix Network lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate YouHodler Synthetix Network (SNX) Up to 12 APY Bitget Synthetix Network (SNX) Up to 1.5 APY Kucoin Synthetix Network (SNX) Up to 0.21 APY 3. Lend Your Synthetix Network
Once you’ve chosen a platform to lending your Synthetix Network, transfer your Synthetix Network 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
Synthetix Network (SNX) is currently priced at $1.5 with a 24-hour trading volume of $133,283,871. The market cap of Synthetix Network stands at $870,789,612, with $327,769,470.99 SNX in circulation. For those looking to buy or trade Synthetix Network, YouHodler offers avenues to do so securely and efficiently}
- Market cap
- $870.79M
- 24h volume
- $133.28M
- Circulating supply
- $327.77M