Introduction
Lending Chainlink can be a great option for those who want to hold LINK 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 Chainlink (LINK) tokens
In order to lend Chainlink, you need to have it. To obtain Chainlink, you’ll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a Chainlink lender
Once you have LINK, you’ll need to choose a Chainlink lending platform to lend your tokens. You can see some options here.
- 3
Lend your Chainlink
Once you’ve chosen a platform to lending your Chainlink, transfer your Chainlink 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
Chainlink (LINK) is currently priced at $16.64, with a 24-hour trading volume of $450.52M. In the last 24 hours, Chainlink has seen an increase to 2.04. The market cap of Chainlink stands at $9.54B, with 587.10M in circulation. For those looking to buy or trade Chainlink, reputable platforms like OKX, Binance, BTSE, Kraken, YouHodler and Nexo offer avenues to do so securely and efficiently.
- Market cap
- $9.54B
- Volume
- $450.52M
- Circulating supply
- $587.10M
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