How to Lend Optimism (OP): A Step-by-Step Guide for Canadians

Introduction to Cryptocurrency in Canada

Lending Optimism can be an excellent choice for Canadians looking to hold OP 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. Acquire Optimism (OP) Tokens in Canada
To lend Optimism in Canada, you first need to acquire it. To obtain Optimism, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
Platform Coin Cost
Nexo Optimism (OP) 0.27
PrimeXBT Optimism (OP) 0.27
YouHodler Optimism (OP) 0.27
Binance Optimism (OP) 0.27
BTSE Optimism (OP) 0.27
OKX Optimism (OP) 0.72
See all 45 prices in Canada
2. Choose a Optimism Lender in Canada
Once you have OP, you'll need to choose a Optimism lending platform to lend your tokens. You can explore some options available in Canada here.
Platform Coin APY
Aave Optimism (OP) Up to 0.07% APY in Canada
Bitget Optimism (OP) Up to 1.2% APY in Canada
CEX.io Optimism (OP) Up to 1.5% APY in Canada
See all 9 lending rates in Canada
3. Lend Your Optimism in Canada
Once you've selected a platform to lend your Optimism, transfer your Optimism 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. 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.

Platform	Coin	Cost
Nexo	Optimism (OP)	0.27
PrimeXBT	Optimism (OP)	0.27
YouHodler	Optimism (OP)	0.27
Binance	Optimism (OP)	0.27
BTSE	Optimism (OP)	0.27
OKX	Optimism (OP)	0.72

Platform	Coin	APY
Aave	Optimism (OP)	Up to 0.07% APY in Canada
Bitget	Optimism (OP)	Up to 1.2% APY in Canada
CEX.io	Optimism (OP)	Up to 1.5% APY in Canada

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.