How to Earn Dai (DAI): A Step-by-Step Guide for Canadians

Introduction to Cryptocurrency in Canada

Lending Dai can be an excellent choice for Canadians looking to hold DAI 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. Acquire Dai (DAI) Tokens in Canada
To lend Dai in Canada, you first need to acquire it. To obtain Dai, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
Platform Coin Cost
Uphold Dai (DAI) 1
BingX Dai (DAI) 1
See all 26 prices in Canada

Platform	Coin	Cost
Uphold	Dai (DAI)	1
BingX	Dai (DAI)	1

2. Choose a Dai Lender in Canada

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

Platform	Coin	APY
Nexo	Dai (DAI)	Up to 14% APY in Canada
Aave	Dai (DAI)	Up to 11.64% APY in Canada
AQRU	Dai (DAI)	Up to 6% APY in Canada
Bitget	Dai (DAI)	Up to 5% APY in Canada
Blockchain.com	Dai (DAI)	Up to 3.75% APY in Canada

See all 22 lending rates in Canada

3. Earn Dai in Canada
Once you've selected a platform to earn your Dai, transfer your Dai 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. 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.