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Lending Klaytn can be an excellent choice for Canadians looking to hold KLAY 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.
To lend Klaytn in Canada, you first need to acquire it. To obtain Klaytn, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
| Platform | Coin | Cost |
|---|---|---|
| Binance | Klaytn (KLAY) | 0.13 |
| Uphold | Klaytn (KLAY) | 0.26 |
| Kucoin | Klaytn (KLAY) | 0.12 |
| Probit | Klaytn (KLAY) | 0.1 |
Once you have KLAY, you'll need to choose a Klaytn lending platform to lend your tokens. You can explore some options available in Canada here.
Once you've selected a platform to lend your Klaytn, transfer your Klaytn 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.
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.
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.
