How to Lend Coinbase Wrapped BTC (CBBTC): A Step-by-Step Guide for Canadians

Introduction to Cryptocurrency in Canada

Lending Coinbase Wrapped BTC can be an excellent choice for Canadians looking to hold CBBTC 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. Acquire Coinbase Wrapped BTC (CBBTC) Tokens in Canada
To lend Coinbase Wrapped BTC in Canada, you first need to acquire it. To obtain Coinbase Wrapped BTC, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
2. Choose a Coinbase Wrapped BTC Lender in Canada
Once you have CBBTC, you'll need to choose a Coinbase Wrapped BTC lending platform to lend your tokens. You can explore some options available in Canada here.
Platform Coin APY
Aave Coinbase Wrapped BTC (CBBTC) Up to 0% APY in Canada
Compound Coinbase Wrapped BTC (CBBTC) Up to 1.98% APY in Canada
See all 4 lending rates in Canada
3. Lend Your Coinbase Wrapped BTC in Canada
Once you've selected a platform to lend your Coinbase Wrapped BTC, transfer your Coinbase Wrapped BTC 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. 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.

Platform	Coin	APY
Aave	Coinbase Wrapped BTC (CBBTC)	Up to 0% APY in Canada
Compound	Coinbase Wrapped BTC (CBBTC)	Up to 1.98% APY in Canada

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.