What are the steps to get started with a defi lending pool and how much initial investment is required?

1 answers

• Sudip MandalOct 26, 2021 · 4 years ago
  To get started with a defi lending pool, you'll need to follow these steps. First, choose a defi lending platform that aligns with your investment goals. Next, create an account on the platform and complete the necessary verification process. Once your account is set up, connect your digital wallet and deposit your desired cryptocurrency as collateral. The initial investment required will depend on the platform and the specific cryptocurrency you choose. Some platforms may have minimum deposit requirements, so keep that in mind. After your collateral is deposited, you can start borrowing or providing liquidity to earn interest. Remember, defi lending pools can be risky, so it's important to do your research and only invest what you can afford to lose. 🔒
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