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
2. Transfer my $14.79 worth of USDT from the trading account to the main account
3. Click on Lend
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".
5. You will be prompted to verify your lending parameters. If everything sounds all right to you, press 'Confirm'.
6. Head over to 'My Lendings' to check that you have submitted your lending order successfully.
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.
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