How to Lend Terra (LUNA) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   YouHodler	Terra (LUNA)	0.15
   Binance	Terra (LUNA)	0.15
   BTSE	Terra (LUNA)	0.15
   Kraken	Terra (LUNA)	0.14
   OKX	Terra (LUNA)	0.15
   BingX	Terra (LUNA)	0.15

   See all 39 prices in Canada

2. 2. Choose a Terra Lender in Canada

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

   Platform	Coin	APY
   Bitget	Terra (LUNA)	Up to 6.5% APY in Canada
   Gemini	Terra (LUNA)	Up to 0.01% APY in Canada
   Kucoin	Terra (LUNA)	Up to 5% APY in Canada

   See all 5 lending rates in Canada

3. 3. Lend Your Terra in Canada

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