How to Lend Polygon (MATIC) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Binance	Polygon (MATIC)	0.38
   Coinbase	Polygon (MATIC)	0.29
   Kraken	Polygon (MATIC)	0.23
   Luno	Polygon (MATIC)	0.6
   BingX	Polygon (MATIC)	0.37

   See all 23 prices in Canada

2. 2. Choose a Polygon Lender in Canada

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

   Platform	Coin	APY
   Nebeus	Polygon (MATIC)	Up to 13% APY in Canada
   Coinbase	Polygon (MATIC)	Up to 2.91% APY in Canada
   Gemini	Polygon (MATIC)	Up to 0.01% APY in Canada
   Kucoin	Polygon (MATIC)	Up to 5% APY in Canada

   See all 11 lending rates in Canada

3. 3. Lend Your Polygon in Canada

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