How to Lend Optimism (OP) in Canada

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. 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. 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. 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. 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.