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Introduction to Cryptocurrency in Canada

Lending Wrapped stETH can be an excellent choice for Canadians looking to hold WSTETH 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 Wrapped stETH (WSTETH) Tokens in Canada

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

2. 2. Choose a Wrapped stETH Lender in Canada

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

   Platform	Coin	APY
   Aave	Wrapped stETH (WSTETH)	Up to 0.45% APY in Canada
   Compound	Wrapped stETH (WSTETH)	Up to 1.98% APY in Canada

   See all 21 lending rates in Canada

3. 3. Earn Wrapped stETH in Canada

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