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Introduction to Cryptocurrency in Canada

Lending Sonic (prev. FTM) can be an excellent choice for Canadians looking to hold S 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 Sonic (prev. FTM) (S) Tokens in Canada

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

   Platform	Coin	Cost
   Nexo	Sonic (prev. FTM) (S)	0.08
   PrimeXBT	Sonic (prev. FTM) (S)	0.08
   YouHodler	Sonic (prev. FTM) (S)	0.08
   Binance	Sonic (prev. FTM) (S)	0.08
   Coinbase	Sonic (prev. FTM) (S)	0.08
   Kraken	Sonic (prev. FTM) (S)	0.08

   See all 41 prices in Canada

2. 2. Choose a Sonic (prev. FTM) Lender in Canada

   Once you have S, you'll need to choose a Sonic (prev. FTM) lending platform to lend your tokens. You can explore some options available in Canada here.

   Platform	Coin	APY
   YouHodler	Sonic (prev. FTM) (S)	Up to 30% APY in Canada
   Kucoin	Sonic (prev. FTM) (S)	Up to 4.5% APY in Canada

3. 3. Earn Sonic (prev. FTM) in Canada

   Once you've selected a platform to earn your Sonic (prev. FTM), transfer your Sonic (prev. FTM) 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.