How to Lend dYdX (Wormhole) (DYDX) in Canada

Introduction to Cryptocurrency in Canada

Lending dYdX (Wormhole) can be an excellent choice for Canadians looking to hold DYDX 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 dYdX (Wormhole) (DYDX) Tokens in Canada

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

   Platform	Coin	Cost
   Nexo	dYdX (Wormhole) (DYDX)	0.69
   Binance	dYdX (Wormhole) (DYDX)	0.69
   BTSE	dYdX (Wormhole) (DYDX)	0.64
   Kraken	dYdX (Wormhole) (DYDX)	0.69
   OKX	dYdX (Wormhole) (DYDX)	0.66
   Uphold	dYdX (Wormhole) (DYDX)	0.58

   See all 46 prices in Canada

2. 2. Choose a dYdX (Wormhole) Lender in Canada

   Once you have DYDX, you'll need to choose a dYdX (Wormhole) lending platform to lend your tokens. You can explore some options available in Canada here.

   Platform	Coin	APY
   Kucoin	dYdX (Wormhole) (DYDX)	Up to 0.5% APY in Canada
   MEXC Global	dYdX (Wormhole) (DYDX)	Up to 0.8% APY in Canada

   See all 4 lending rates in Canada

3. 3. Lend Your dYdX (Wormhole) in Canada

   Once you've selected a platform to lend your dYdX (Wormhole), transfer your dYdX (Wormhole) 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.