Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Bitpanda	PHOENIX (phx)	2.11
   Bybit	PHOENIX (phx)	0.28
   CoinEx	PHOENIX (phx)	0.28
   Phemex	PHOENIX (phx)	0.28

   See all 7 prices in Canada

2. 2. Choose a PHOENIX Lender in Canada

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

3. 3. Lend Your PHOENIX in Canada

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