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Introduction to Cryptocurrency in Canada

Lending Frax can be an excellent choice for Canadians looking to hold FRAX 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 Frax (FRAX) Tokens in Canada

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

   Platform	Coin	Cost
   Uphold	Frax (FRAX)	1
   FMFW.io	Frax (FRAX)	0.5
   Gate.io	Frax (FRAX)	0.66

   See all 5 prices in Canada

2. 2. Choose a Frax Lender in Canada

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

   Platform	Coin	APY
   Aave	Frax (FRAX)	Up to 4.5% APY in Canada

3. 3. Earn Frax in Canada

   Once you've selected a platform to earn your Frax, transfer your Frax 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.