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Introduction to Cryptocurrency in Canada

Lending Chainlink can be an excellent choice for Canadians looking to hold LINK while earning a yield. The process may seem a bit overwhelming, particularly for first-time users. That’s why we’ve created this guide specifically for you.

Step-by-Step Guide for Canadians

1. 1. Acquire Chainlink (LINK) Tokens in Canada

   To lend Chainlink in Canada, you first need to acquire it. To obtain Chainlink, you'll need to purchase it from one of these popular exchanges available in the Canadian market.

   Platform	Coin	Cost
   Nexo	Chainlink (LINK)	12.77
   PrimeXBT	Chainlink (LINK)	12.73
   YouHodler	Chainlink (LINK)	12.72
   Binance	Chainlink (LINK)	12.72
   BTSE	Chainlink (LINK)	12.73

   See all 73 prices in Canada

2. 2. Choose a Chainlink Lender in Canada

   Once you have LINK, you'll need to choose a Chainlink lending platform to lend your tokens. You can explore some options available in Canada here.

   Platform	Coin	APY
   Nexo	Chainlink (LINK)	Up to 7% APY in Canada
   EarnPark	Chainlink (LINK)	Up to 5% APY in Canada
   YouHodler	Chainlink (LINK)	Up to 12% APY in Canada
   Aave	Chainlink (LINK)	Up to 0.03% APY in Canada

   See all 19 lending rates in Canada

3. 3. Earn Chainlink in Canada

   Once you've selected a platform to earn your Chainlink, transfer your Chainlink into your wallet on the earning platform. Once it's deposited, it will begin to earn interest. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn Interest in Canada

   Now all you need to do is sit back while your cryptocurrency earns interest. The more you deposit, the more interest you can earn. Be sure to choose a Canadian earning platform that pays compounding interest to maximize your returns.

What Canadians Should Be Aware Of

Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing your crypto. Only lend what you can afford to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.