How to Lend Sky (SKY) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   Nexo	Sky (SKY)	0.06
   PrimeXBT	Sky (SKY)	0.06
   YouHodler	Sky (SKY)	0.06
   Binance	Sky (SKY)	0.06
   Coinbase	Sky (SKY)	0.06
   Kraken	Sky (SKY)	0.06

   See all 24 prices in Canada

2. 2. Choose a Sky Lender in Canada

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

   Platform	Coin	APY
   YouHodler	Sky (SKY)	Up to 12% APY in Canada
   Compound	Sky (SKY)	Up to 1.98% APY in Canada

3. 3. Lend Your Sky in Canada

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