Introduction to Cryptocurrency in Canada

Lending Canadian Dollar can be an excellent choice for Canadians looking to hold CAD 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 Canadian Dollar (CAD) Tokens in Canada

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

2. 2. Choose a Canadian Dollar Lender in Canada

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

3. 3. Lend Your Canadian Dollar in Canada

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