How to Lend Internet Computer (ICP) in Canada

Introduction to Cryptocurrency in Canada

Lending Internet Computer can be an excellent choice for Canadians looking to hold ICP 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 Internet Computer (ICP) Tokens in Canada

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

   Platform	Coin	Cost
   PrimeXBT	Internet Computer (ICP)	3.16
   YouHodler	Internet Computer (ICP)	3.16
   Binance	Internet Computer (ICP)	3.17
   Coinbase	Internet Computer (ICP)	3.16
   Kraken	Internet Computer (ICP)	3.16
   OKX	Internet Computer (ICP)	5.15

   See all 54 prices in Canada

2. 2. Choose a Internet Computer Lender in Canada

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

   Platform	Coin	APY
   Kucoin	Internet Computer (ICP)	Up to 0.5% APY in Canada

3. 3. Lend Your Internet Computer in Canada

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