How to Lend NEM (XEM) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Binance	NEM (XEM)	0.02
   BingX	NEM (XEM)	0
   Bitget	NEM (XEM)	0
   Bitmart	NEM (XEM)	0
   Bitpanda	NEM (XEM)	0.03
   Bybit	NEM (XEM)	0

   See all 25 prices in Canada

2. 2. Choose a NEM Lender in Canada

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

   Platform	Coin	APY
   Kucoin	NEM (XEM)	Up to 0.5% APY in Canada

3. 3. Lend Your NEM in Canada

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