How to Lend Shiba Inu (SHIB) in Canada

Introduction to Cryptocurrency in Canada

Lending Shiba Inu can be an excellent choice for Canadians looking to hold SHIB 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 Shiba Inu (SHIB) Tokens in Canada

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

   Platform	Coin	Cost
   YouHodler	Shiba Inu (SHIB)	0.000007177
   Binance	Shiba Inu (SHIB)	0.00000717
   BTSE	Shiba Inu (SHIB)	0.000007172
   OKX	Shiba Inu (SHIB)	0.00001234
   Uphold	Shiba Inu (SHIB)	0.00001307
   Bake	Shiba Inu (SHIB)	0.00000716

   See all 42 prices in Canada

2. 2. Choose a Shiba Inu Lender in Canada

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

   Platform	Coin	APY
   YouHodler	Shiba Inu (SHIB)	Up to 16% APY in Canada
   CEX.io	Shiba Inu (SHIB)	Up to 1% APY in Canada

   See all 6 lending rates in Canada

3. 3. Lend Your Shiba Inu in Canada

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