How to Lend Aave MKR (AMKR) in Canada

Introduction to Cryptocurrency in Canada

Lending Aave MKR can be an excellent choice for Canadians looking to hold AMKR 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 Aave MKR (AMKR) Tokens in Canada

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

2. 2. Choose a Aave MKR Lender in Canada

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

   Platform	Coin	APY
   Aave	Aave MKR (AMKR)	Up to 0.00000171% APY in Canada

3. 3. Lend Your Aave MKR in Canada

   Once you've selected a platform to lend your Aave MKR, transfer your Aave MKR into your wallet on the lending platform. Once it's deposited, it will begin to earn APY. 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 lending platform that offers compounding interest to maximise 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.