Where and How to Lend Wrapped stETH (WSTETH)

Introduction

Lending Wrapped stETH can be a great option for those who want to hold WSTETH 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 Wrapped stETH (WSTETH) Tokens

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

2. 2. Choose a Wrapped stETH Lender

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

   Platform	Coin	Interest rate
   Aave	Wrapped stETH (WSTETH)	Up to 0.45 APY

3. 3. Lend Your Wrapped stETH

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