How to Lend Litecoin (LTC) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Nexo	Litecoin (LTC)	78.64
   PrimeXBT	Litecoin (LTC)	78.54
   YouHodler	Litecoin (LTC)	78.48
   Binance	Litecoin (LTC)	78.59
   BTSE	Litecoin (LTC)	78.55
   Kraken	Litecoin (LTC)	78.5

   See all 61 prices in Canada

2. 2. Choose a Litecoin Lender in Canada

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

   Platform	Coin	APY
   Nexo	Litecoin (LTC)	Up to 8% APY in Canada
   Nebeus	Litecoin (LTC)	Up to 4.5% APY in Canada
   YouHodler	Litecoin (LTC)	Up to 16% APY in Canada
   Bitget	Litecoin (LTC)	Up to 0.3% APY in Canada
   Blockchain.com	Litecoin (LTC)	Up to 1% APY in Canada

   See all 11 lending rates in Canada

3. 3. Lend Your Litecoin in Canada

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