Crypto trading is a risky business and there is always a chance of losing the investment. Although, if you are using a competitive crypto trading platform such as KuCoin then you can invest in the coins that are likely to go up and the risk of losing the investment is minimized. KuCoin has many features and you can even earn a profit if you are not willing to invest in trading. It provides many features such as the referral program, affiliate program, and crypto lending so that you can earn money without any risk.
In this article, we are going to learn every detail about crypto lending so that you can lend your ALGO, Shib, DOGE, or any other coin to earn interest over them. So let’s begin.
How To Lend Your Crypto?
The method of lending the crypto is very easy and you can lend your investment for 7 to 28 days. These are the steps of lending the crypto:
Go To Crypto Lending Page
First of all, visit the crypto lending homepage. Login to your and go to the Earn tab. You will find the Crypto lending option there. Visit the page to lend the crypto. If you are using the mobile application then you can follow the same path. Go to earn and then crypto lending to invest in interest.
Select The Coin
On the crypto lending page, you will see three columns or sections. From the first column select the coins that you want to lend. You can choose more than one coin to lend and earn interest. An important thing to note is that you will only earn the interest in the cryptocurrency that you have invested.
There are two ways by which you can lend your amount. The first is normal lending in which you can choose the amount you want to lend, the daily interest rate, and the duration of lending.
Normal Lending
Normal lending is considered best if you are lending your currency for the first time. In this, you can select everything according to your preferences. First, fill in the amount that you want to lend. You can also select the percentage of the amount to lend from your total coin assets. Also, choose the term of lending that can be 7 to 28 days. Then the last thing is the daily interest rate that you expect to receive. You can choose any interest that you want but it is ideal to choose the priority rate that is the best in the market.
Auto Lending
The auto lending method invests your amount at your daily interest rate and then reinvest it so that you keep earning the passive income. You can add the reserved amount that you do not want to lend. Choose the term and the interest rate and your money will automatically be lent out so that you keep earning profits.
Conclusion
Crypto lending is a good way of earning passive income and if you have purchased the coin for the long term then you can lend it out so that your profits keep increasing. KuCoin is a secure platform and makes sure that the borrower repays you the full amount with interest.
