How to Lend Sonic (prev. FTM) (S): A Step-by-Step Guide for Canadians

Introduction to Cryptocurrency in Canada

Lending Sonic (prev. FTM) can be an excellent choice for Canadians looking to hold S 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. Acquire Sonic (prev. FTM) (S) Tokens in Canada

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

Platform	Coin	Cost
Nexo	Sonic (prev. FTM) (S)	0.07
PrimeXBT	Sonic (prev. FTM) (S)	0.07
YouHodler	Sonic (prev. FTM) (S)	0.07
Binance	Sonic (prev. FTM) (S)	0.07
Coinbase	Sonic (prev. FTM) (S)	0.07
Kraken	Sonic (prev. FTM) (S)	0.07

See all 41 prices in Canada

2. Choose a Sonic (prev. FTM) Lender in Canada
Once you have S, you'll need to choose a Sonic (prev. FTM) lending platform to lend your tokens. You can explore some options available in Canada here.
Platform Coin APY
YouHodler Sonic (prev. FTM) (S) Up to 30% APY in Canada
Kucoin Sonic (prev. FTM) (S) Up to 4.5% APY in Canada
3. Lend Your Sonic (prev. FTM) in Canada
Once you've selected a platform to lend your Sonic (prev. FTM), transfer your Sonic (prev. FTM) 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. 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.

Platform	Coin	APY
YouHodler	Sonic (prev. FTM) (S)	Up to 30% APY in Canada
Kucoin	Sonic (prev. FTM) (S)	Up to 4.5% APY in Canada

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.