How to Lend Bitcoin (BTC) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Nexo	Bitcoin (BTC)	91,070.67
   PrimeXBT	Bitcoin (BTC)	91,087.3
   EarnPark	Bitcoin (BTC)	90,639.62
   YouHodler	Bitcoin (BTC)	91,142.79
   Binance	Bitcoin (BTC)	91,142.79
   BTSE	Bitcoin (BTC)	91,076

   See all 80 prices in Canada

2. 2. Choose a Bitcoin Lender in Canada

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

   Platform	Coin	APY
   Nexo	Bitcoin (BTC)	Up to 7% APY in Canada
   Nebeus	Bitcoin (BTC)	Up to 4.5% APY in Canada
   EarnPark	Bitcoin (BTC)	Up to 15% APY in Canada
   YouHodler	Bitcoin (BTC)	Up to 12% APY in Canada
   Neverless	Bitcoin (BTC)	Up to 7.25% APY in Canada

   See all 26 lending rates in Canada

3. 3. Lend Your Bitcoin in Canada

   Once you've selected a platform to lend your Bitcoin, transfer your Bitcoin 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.