How to Lend Frax Share (FXS): A Step-by-Step Guide for Canadians

Introduction to Cryptocurrency in Canada

Lending Frax Share can be an excellent choice for Canadians looking to hold FXS 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 Frax Share (FXS) Tokens in Canada
To lend Frax Share in Canada, you first need to acquire it. To obtain Frax Share, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
Platform Coin Cost
Nexo Frax Share (FXS) 0.89
Binance Frax Share (FXS) 0.89
Kraken Frax Share (FXS) 0.89
OKX Frax Share (FXS) 0.66
Uphold Frax Share (FXS) 3.04
BingX Frax Share (FXS) 0.77
See all 45 prices in Canada
2. Choose a Frax Share Lender in Canada
Once you have FXS, you'll need to choose a Frax Share lending platform to lend your tokens. You can explore some options available in Canada here.
Platform Coin APY
Aave Frax Share (FXS) Up to 0% APY in Canada
Kucoin Frax Share (FXS) Up to 0.5% APY in Canada
See all 4 lending rates in Canada
3. Lend Your Frax Share in Canada
Once you've selected a platform to lend your Frax Share, transfer your Frax Share 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	Cost
Nexo	Frax Share (FXS)	0.89
Binance	Frax Share (FXS)	0.89
Kraken	Frax Share (FXS)	0.89
OKX	Frax Share (FXS)	0.66
Uphold	Frax Share (FXS)	3.04
BingX	Frax Share (FXS)	0.77

Platform	Coin	APY
Aave	Frax Share (FXS)	Up to 0% APY in Canada
Kucoin	Frax Share (FXS)	Up to 0.5% 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.