How to Lend Nimiq (NIM) in Canada

Introduction to Cryptocurrency in Canada

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

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

   Platform	Coin	Cost
   CoinEx	Nimiq (NIM)	0.0006453
   Gate.io	Nimiq (NIM)	0.0006447
   HTX	Nimiq (NIM)	0
   MEXC Global	Nimiq (NIM)	0.000646

   See all 8 prices in Canada

2. 2. Choose a Nimiq Lender in Canada

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

   Platform	Coin	APY
   Kucoin	Nimiq (NIM)	Up to 16% APY in Canada

3. 3. Lend Your Nimiq in Canada

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