Where and How to Lend Wrapped XDAI (WXDAI)

Introduction

Lending Wrapped XDAI can be a great option for those who wish to hold WXDAI but earn interest. The steps can be a bit intimidating, especially the first time you attempt them. That's why we have compiled this guide for you.

Step-by-Step Guide

1. 1. Acquire Wrapped XDAI (WXDAI) Tokens

   To lend Wrapped XDAI, you need to have it. To obtain Wrapped XDAI, you’ll need to buy it. You can choose from these popular exchanges.

2. 2. Select a Wrapped XDAI Lender

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

   Platform	Coin	Interest rate
   Aave	Wrapped XDAI (WXDAI)	Up to 5% APY

3. 3. Lend Your Wrapped XDAI

   After you have selected a platform for lending your Wrapped XDAI, transfer your Wrapped XDAI into your wallet on the lending platform. Once it is deposited, it will begin earning interest. Some platforms pay interest on a daily basis, while others do so weekly or monthly.

4. 4. Earn Interest

   Now all you have to do is relax while your crypto earns interest. The more you deposit, the more interest you can earn. Make sure your lending platform pays compounding interest to maximise your returns.

What to Keep in Mind

Lending your crypto can be risky. Ensure that you do your research before depositing your crypto. Don’t lend more than you’re prepared to lose. Verify their lending practices, reviews, and how they secure your cryptocurrency.