How to Earn MultiversX (EGLD): A Step-by-Step Guide for Canadians

Introduction to Cryptocurrency in Canada

Lending MultiversX can be an excellent choice for Canadians looking to hold EGLD 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 MultiversX (EGLD) Tokens in Canada
To lend MultiversX in Canada, you first need to acquire it. To obtain MultiversX, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
Platform Coin Cost
PrimeXBT MultiversX (EGLD) 10.44
YouHodler MultiversX (EGLD) 10.27
Binance MultiversX (EGLD) 10.44
BTSE MultiversX (EGLD) 10.41
Coinbase MultiversX (EGLD) 10.43
Kraken MultiversX (EGLD) 10.44
See all 53 prices in Canada
2. Choose a MultiversX Lender in Canada
Once you have EGLD, you'll need to choose a MultiversX lending platform to lend your tokens. You can explore some options available in Canada here.
Platform Coin APY
YouHodler MultiversX (EGLD) Up to 16% APY in Canada
Bitget MultiversX (EGLD) Up to 0.3% APY in Canada
Kucoin MultiversX (EGLD) Up to 6% APY in Canada
See all 5 lending rates in Canada
3. Earn MultiversX in Canada
Once you've selected a platform to earn your MultiversX, transfer your MultiversX 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.

Platform	Coin	Cost
PrimeXBT	MultiversX (EGLD)	10.44
YouHodler	MultiversX (EGLD)	10.27
Binance	MultiversX (EGLD)	10.44
BTSE	MultiversX (EGLD)	10.41
Coinbase	MultiversX (EGLD)	10.43
Kraken	MultiversX (EGLD)	10.44

Platform	Coin	APY
YouHodler	MultiversX (EGLD)	Up to 16% APY in Canada
Bitget	MultiversX (EGLD)	Up to 0.3% APY in Canada
Kucoin	MultiversX (EGLD)	Up to 6% APY in Canada

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.

Latest Movements in Canada

MultiversX (EGLD) is currently priced at US$0.3 with a 24-hour trading volume of US$39.77M. The market cap of MultiversX stands at US$917.2M, with 27.81M EGLD in circulation. For those looking to buy or trade MultiversX, YouHodler offers avenues to do so securely and efficiently

Market capitalization: US$917.2M
24h trading volume: US$39.77M
Circulating supply in Canada: 27.81M EGLD

See the latest information

Frequently Asked Questions About Lending MultiversX (EGLD) in Canada

What are the current lending rates for MultiversX (EGLD)?: As of now, MultiversX (EGLD) has a total of three lending rates available. The average lending rate is approximately 0.1055%. For those seeking the best lending rate, Kucoin offers the most competitive option. It is crucial to stay updated on these rates, as they can fluctuate based on market conditions. For real-time comparisons and alerts, consider using Bitcompare to ensure you have the latest information on MultiversX lending rates.
How can I find the best lending rates for MultiversX (EGLD)?: To find the best lending rates for MultiversX (EGLD), you can utilize platforms like Bitcompare that provide real-time comparisons of various lending options. Currently, Kucoin offers the most competitive lending rate at approximately 0.1055%. Regularly checking these rates is essential, as they can change frequently. Additionally, setting up email rate alerts on Bitcompare can help you stay informed about any significant fluctuations in lending rates for EGLD.
What factors influence the lending rates for MultiversX (EGLD)?: Lending rates for MultiversX (EGLD) are influenced by several factors, including market demand, the supply of EGLD, and the overall sentiment in the cryptocurrency market. Additionally, specific lending platforms can set their rates based on competition and risk assessment. As rates can fluctuate frequently, it is important to monitor these changes using reliable platforms like Bitcompare, which offers real-time price comparisons and market sentiment analysis to keep you informed about lending rates.
Are there any risks associated with lending MultiversX (EGLD)?: Yes, lending MultiversX (EGLD) carries certain risks. The primary risks include market volatility, which can affect the value of EGLD, and the potential for default by borrowers on lending platforms. Additionally, changes in platform policies or interest rates can impact your returns. To mitigate these risks, it is advisable to use reputable lending platforms and stay informed about the latest MultiversX news and market sentiment through resources such as Bitcompare, which offers comprehensive comparisons and analysis.
How do lending rates for MultiversX (EGLD) compare to those of other cryptocurrencies?: Lending rates for MultiversX (EGLD) can vary significantly compared to other cryptocurrencies, depending on market conditions and platform offerings. Currently, EGLD has an average lending rate of approximately 0.1055%, which may be higher or lower than rates for other assets. To make informed comparisons, it is essential to use platforms like Bitcompare, which provide real-time comparisons of lending rates across various cryptocurrencies, helping you identify competitive opportunities in the market.