How to Lend Wrapped Bitcoin (WBTC) in Canada

Introduction to Cryptocurrency in Canada

Lending Wrapped Bitcoin can be an excellent choice for Canadians looking to hold WBTC 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 Wrapped Bitcoin (WBTC) Tokens in Canada

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

   Platform	Coin	Cost
   Binance	Wrapped Bitcoin (WBTC)	90,931.28
   Kraken	Wrapped Bitcoin (WBTC)	91,074.3
   OKX	Wrapped Bitcoin (WBTC)	114,676.9
   BingX	Wrapped Bitcoin (WBTC)	90,943.42
   Bitget	Wrapped Bitcoin (WBTC)	90,898.6
   Bitmart	Wrapped Bitcoin (WBTC)	90,931.29

   See all 20 prices in Canada

2. 2. Choose a Wrapped Bitcoin Lender in Canada

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

   Platform	Coin	APY
   Aave	Wrapped Bitcoin (WBTC)	Up to 0.02% APY in Canada
   Bitget	Wrapped Bitcoin (WBTC)	Up to 1.3% APY in Canada
   Compound	Wrapped Bitcoin (WBTC)	Up to 1.82% APY in Canada
   Klink	Wrapped Bitcoin (WBTC)	Up to 4% APY in Canada

   See all 15 lending rates in Canada

3. 3. Lend Your Wrapped Bitcoin in Canada

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