How to Lend Merlin Chain (MERL) in Canada

Introduction to Cryptocurrency in Canada

Lending Merlin Chain can be an excellent choice for Canadians looking to hold MERL 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 Merlin Chain (MERL) Tokens in Canada

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

   Platform	Coin	Cost
   PrimeXBT	Merlin Chain (MERL)	0.26
   BTSE	Merlin Chain (MERL)	0.26
   Kraken	Merlin Chain (MERL)	0.26
   OKX	Merlin Chain (MERL)	0.11
   BingX	Merlin Chain (MERL)	0.26
   Bitget	Merlin Chain (MERL)	0.26

   See all 32 prices in Canada

2. 2. Choose a Merlin Chain Lender in Canada

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

   Platform	Coin	APY
   Bitget	Merlin Chain (MERL)	Up to 0.8% APY in Canada
   Kucoin	Merlin Chain (MERL)	Up to 0.5% APY in Canada

3. 3. Lend Your Merlin Chain in Canada

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