Earn up to
12% APY in Canada
An in-depth guide on how to lend Synthetix Network (SNX) in Canada
We have a wealth of information on lending Synthetix Network (SNX) and we are excited to share some of this with you.
We present you with various lending options featuring other cryptocurrencies that may pique your interest.
Synthetix Network (SNX) is currently priced at US$0.23 with a 24-hour trading volume of US$38.11M. The market cap of Synthetix Network stands at US$614.86M, with 339.47M SNX in circulation. For those looking to buy or trade Synthetix Network, YouHodler offers avenues to do so securely and efficiently
Lending Synthetix Network can be an excellent choice for Canadians looking to hold SNX 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.
To lend Synthetix Network in Canada, you first need to acquire it. To obtain Synthetix Network, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
Once you have SNX, you'll need to choose a Synthetix Network lending platform to lend your tokens. You can explore some options available in Canada here.
| Platform | Coin | APY |
|---|---|---|
| YouHodler | Synthetix Network (SNX) | Up to 12% APY in Canada |
| Aave | Synthetix Network (SNX) | Up to 0.23% APY in Canada |
| Bitget | Synthetix Network (SNX) | Up to 1.5% APY in Canada |
| Blockchain.com | Synthetix Network (SNX) | Up to 15% APY in Canada |
Once you've selected a platform to lend your Synthetix Network, transfer your Synthetix Network 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.
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.
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.
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