Step-by-Step Guide to Lending on KuCoin

By diaperfinancingfund | CryptoSensei | 11 Jan 2022


One of my goals this year is to lend out USDT on KuCoin and gain some form of passive income in the process. Actually, last year, I tried to lend out Ethereum but was never successful. I don't know if the amount I offered for lending was too paltry to attract the interest of prospective borrowers, but since many people have recommended that I convert my coins/tokens to USDT, I thought that perhaps the pool of borrowers for USDT was higher? In any case, since this is a new year, why not I just try it out?

1. Convert $15 worth of ETH and $3 worth of AMPL to USDT

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2. Transfer my $14.79 worth of USDT from the trading account to the main account

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3. Click on Lend

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4. Set your Lending parameters after observing the USDT Lending Market. As you can see, I have chosen to lend it out for 7 days, so the lowest daily interest rate other borrowers has set is about 0.009%. So I followed suit and subsequently clicked on "Lend USDT".

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5. You will be prompted to verify your lending parameters. If everything sounds all right to you, press 'Confirm'.

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6. Head over to 'My Lendings' to check that you have submitted your lending order successfully.

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7. Wait and hope for the best.

I recognise that $14 worth of USDT isn't a lot. It can even hardly be considered beer money, but this guy mentioned that he had experience of witnessing someone else lend out $20+ worth of USDT before, so I guess I shall give it a shot. 

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I guess my goal this year is to keep adding on to my USDT pool until it reaches a sum significant enough to entice someone to borrow it. Watch this space!

Have you lent out your USDT on KuCoin before? Any tips to share with this novice? :P

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diaperfinancingfund
diaperfinancingfund

budding investor


CryptoSensei
CryptoSensei

chronicles of an English teacher

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