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Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Coinbase	Loom (LOOM)	0.08
   Kucoin	Loom (LOOM)	0.01
   LBank	Loom (LOOM)	0.000421

   See all 4 prices in Canada

2. 2. Choose a Loom Lender in Canada

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

   Platform	Coin	APY
   Kucoin	Loom (LOOM)	Up to 0.3% APY in Canada

3. 3. Earn Loom in Canada

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