How to Lend TerraUSD (Wormhole) (UST): A Step-by-Step Guide for Canadians

Introduction to Cryptocurrency in Canada

Lending TerraUSD (Wormhole) can be an excellent choice for Canadians looking to hold UST 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 TerraUSD (Wormhole) (UST) Tokens in Canada
To lend TerraUSD (Wormhole) in Canada, you first need to acquire it. To obtain TerraUSD (Wormhole), you'll need to purchase it from one of these popular exchanges available in the Canadian market.
Platform Coin Cost
Coinbase TerraUSD (Wormhole) (UST) 0.03
Gate.io TerraUSD (Wormhole) (UST) 0
2. Choose a TerraUSD (Wormhole) Lender in Canada
Once you have UST, you'll need to choose a TerraUSD (Wormhole) lending platform to lend your tokens. You can explore some options available in Canada here.
Platform Coin APY
Gemini TerraUSD (Wormhole) (UST) Up to 0.01% APY in Canada
3. Lend Your TerraUSD (Wormhole) in Canada
Once you've selected a platform to lend your TerraUSD (Wormhole), transfer your TerraUSD (Wormhole) 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	Cost
Coinbase	TerraUSD (Wormhole) (UST)	0.03
Gate.io	TerraUSD (Wormhole) (UST)	0

Platform	Coin	APY
Gemini	TerraUSD (Wormhole) (UST)	Up to 0.01% 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.