How to Lend Kusama (KSM) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Nexo	Kusama (KSM)	7.38
   Binance	Kusama (KSM)	7.34
   BTSE	Kusama (KSM)	7.38
   Coinbase	Kusama (KSM)	7.35
   Kraken	Kusama (KSM)	7.33
   OKX	Kusama (KSM)	18.08

   See all 48 prices in Canada

2. 2. Choose a Kusama Lender in Canada

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

   Platform	Coin	APY
   Nexo	Kusama (KSM)	Up to 12% APY in Canada
   Bitget	Kusama (KSM)	Up to 6% APY in Canada
   Kucoin	Kusama (KSM)	Up to 6% APY in Canada

   See all 4 lending rates in Canada

3. 3. Lend Your Kusama in Canada

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