Do I need a crypto wallet to invest on 8lends: USDC and the Base network explained
06/24/2026
4 min
Yes. All investments on 8lends are made in USDC on the Base blockchain, so a non-custodial wallet is required. MetaMask is the most commonly used option, but 8lends supports over 90 wallets including Trust Wallet, SafePal, WalletConnect, and Phantom. If you do not yet have a wallet or USDC, both can be set up before your first investment.
What is USDC and why does 8lends use it?
USDC is a stablecoin issued by Circle, pegged 1:1 to the US dollar. 1 USDC = 1 USD at all times. Each token in circulation is backed by cash or short-term US Treasury securities, audited monthly by an independent firm.
8lends uses USDC because it combines dollar stability with blockchain settlement speed. All interest payments and principal repayments are distributed automatically by smart contract in USDC — your 19–25% APR is a dollar-denominated return, not subject to crypto market volatility. Transactions on Base settle in seconds for a few cents, regardless of the investor's country.
Why USDC | Details |
Stability | Pegged 1:1 to USD — returns are in dollars, not volatile crypto |
Regulation | Issued by Circle, licensed in the US, reserves audited monthly, MiCA-compliant |
Global access | Available on all major exchanges, convertible to fiat in most countries |
Speed | Transactions settle in seconds on Base for a few cents |
Programmability | Works natively with smart contracts — enables automatic repayments |
What is the Base network?
Base is a Layer 2 blockchain built by Coinbase on top of Ethereum. It processes transactions faster and at significantly lower cost than Ethereum Mainnet — typical gas fees on Base are a few cents. All 8lends smart contracts, investments, repayments, and withdrawals run on Base.
Every transaction is publicly verifiable on the Base block explorer at basescan.org. You can check any investment, repayment, or withdrawal by searching your wallet address or the project contract address — no login required.
How to set up a MetaMask wallet for 8lends
MetaMask is the recommended wallet for desktop users. Install it as a browser extension from metamask.io/download.
⚠️ Security rule #1: your seed phrase = full access to your funds. Never share it, never enter it on any website except MetaMask itself during wallet recovery. Anyone claiming to be 8lends or MetaMask support who asks for your seed phrase is a scammer.
Step | Action |
1 | Install MetaMask from metamask.io/download as a Chrome extension or iOS/Android app |
2 | Click Create a Wallet and set a password |
3 | Write down your seed phrase (12 words) on paper and store it securely offline — do not screenshot, do not save to cloud |
4 | Confirm the seed phrase on the next screen |
5 | Open MetaMask, click the network selector (top left) → find Base Mainnet → click Add |
6 | Click Import tokens in the Assets tab → search USDC → confirm |
After setup, your wallet address (starting with 0x...) is visible at the top of the MetaMask window. This is the address you use to connect to 8lends and receive USDC.
How to fund your 8lends account with USDC on the Base network
Your balance on 8lends is your wallet balance — there is no separate deposit step. You invest directly from your wallet. Choose the scenario that applies to you:
Scenario | How to get USDC on Base |
No crypto at all | Buy ETH or USDC via Meld.io using a bank card, Apple Pay, or Google Pay. Buy ETH first — you will need a small ETH balance (~$1–3) to pay gas fees for any transaction on Base. Then swap part of the ETH to USDC in MetaMask or on a DEX. |
Crypto on a centralised exchange (Binance, Bybit, OKX, etc.) | Withdraw USDC or ETH directly to your wallet on the Base network. Always confirm the network is Base before confirming — sending via the wrong network results in loss of funds. |
Crypto in another EVM network (Ethereum, Arbitrum, etc.) | Use a bridge to move funds to Base: Base Bridge (official), Across, Stargate, or Hop. |
⚠️ Always keep a small ETH balance on Base in your wallet. Without it, transactions — including investments and withdrawals — will not process even if you have USDC.
Once USDC is in your wallet on Base, go to app.8lends.io, connect your wallet, complete KYC if not yet done, and select a project to invest in.
Maclear AG, registered in Switzerland, member of PolyReg SRO, a self-regulatory organization supervised by FINMA.