Introduction

Lending Canadian Dollar can be an excellent option for those who wish to hold CAD while earning a yield. The steps may seem a bit daunting, particularly the first time you undertake them. That's why we've compiled this guide for you.

Step-by-Step Guide

1. 1. Obtain Canadian Dollar (CAD) Tokens

   To lend Canadian Dollar, you need to possess it. To obtain Canadian Dollar, you'll need to purchase it. You can choose from these popular exchanges in the UK.

2. 2. Choose a Canadian Dollar Lender in the UK

   Once you have CAD, you'll need to choose a Canadian Dollar lending platform to lend your tokens. You can see some options here.

3. 3. Lend Your Canadian Dollar

   Once you've chosen a platform to lend your Canadian Dollar, transfer your Canadian Dollar into your wallet on the lending platform. Once it's deposited, it will start earning AER. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn AER

   Now all you need to do is sit back while your cryptocurrency earns interest. The more you deposit, the more interest you can earn. Try to ensure your lending platform pays compounding interest to maximise your returns.

What to Be Aware Of

Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing your crypto. Do not lend more than you are prepared to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.