How to Lend Dogecoin (DOGE) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Nexo	Dogecoin (DOGE)	0.14
   PrimeXBT	Dogecoin (DOGE)	0.14
   EarnPark	Dogecoin (DOGE)	0.14
   YouHodler	Dogecoin (DOGE)	0.14
   Binance	Dogecoin (DOGE)	0.14
   BTSE	Dogecoin (DOGE)	0.14

   See all 67 prices in Canada

2. 2. Choose a Dogecoin Lender in Canada

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

   Platform	Coin	APY
   Nexo	Dogecoin (DOGE)	Up to 3% APY in Canada
   EarnPark	Dogecoin (DOGE)	Up to 7% APY in Canada
   YouHodler	Dogecoin (DOGE)	Up to 12% APY in Canada
   Bitget	Dogecoin (DOGE)	Up to 2% APY in Canada
   Blockchain.com	Dogecoin (DOGE)	Up to 1% APY in Canada

   See all 14 lending rates in Canada

3. 3. Lend Your Dogecoin in Canada

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