Earn up to
0.8% APY in Canada
An in-depth guide on how to lend Merlin Chain (MERL) in Canada
We have a wealth of information on lending Merlin Chain (MERL) and we are excited to share some of this with you.
We present you with various lending options featuring other cryptocurrencies that may pique your interest.
Merlin Chain (MERL) is currently priced at US$0.8 with a 24-hour trading volume of US$11.1M. The market cap of Merlin Chain stands at US$110.34M, with 487.48M MERL in circulation. For those looking to buy or trade Merlin Chain, Bitget offers avenues to do so securely and efficiently}
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.
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.
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 |
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.
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.
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