How to Lend Metal DAO (MTL) in Canada

Introduction to Cryptocurrency in Canada

Lending Metal DAO can be an excellent choice for Canadians looking to hold MTL 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 Metal DAO (MTL) Tokens in Canada

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

   Platform	Coin	Cost
   PrimeXBT	Metal DAO (MTL)	0.75
   Uphold	Metal DAO (MTL)	0.77
   Binance	Metal DAO (MTL)	0.76
   Coinbase	Metal DAO (MTL)	1.46
   BingX	Metal DAO (MTL)	0.76
   Bitget	Metal DAO (MTL)	0.76

   See all 25 prices in Canada

2. 2. Choose a Metal DAO Lender in Canada

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

   Platform	Coin	APY
   Kucoin	Metal DAO (MTL)	Up to 0.5% APY in Canada

3. 3. Lend Your Metal DAO in Canada

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