Introduction to Cryptocurrency in Canada
Lending Australian Dollar can be an excellent choice for Canadians looking to hold AUD 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 Australian Dollar (AUD) Tokens in Canada
To lend Australian Dollar in Canada, you first need to acquire it. To obtain Australian Dollar, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
2. Choose a Australian Dollar Lender in Canada
Once you have AUD, you'll need to choose a Australian Dollar lending platform to lend your tokens. You can explore some options available in Canada here.
3. Lend Your Australian Dollar in Canada
Once you've selected a platform to lend your Australian Dollar, transfer your Australian Dollar 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.
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.
AUD
ADA
BCH
BNB
BTC
DOGE
ETH
FIGR_HELOC
LINK
SOL
STETH
TRX
USDC
