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Lending ULTRA can be an excellent choice for Canadians looking to hold ultra 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.
To lend ULTRA in Canada, you first need to acquire it. To obtain ULTRA, you'll need to purchase it from one of these popular exchanges available in the Canadian market.
| Platform | Coin | Cost |
|---|---|---|
| Uphold | ULTRA (ultra) | 0.05 |
| BingX | ULTRA (ultra) | 0.01 |
| Bitfinex | ULTRA (ultra) | 0.01 |
| CoinEx | ULTRA (ultra) | 0.01 |
| Gate.io | ULTRA (ultra) | 0.01 |
| HTX | ULTRA (ultra) | 0 |
Once you have ultra, you'll need to choose a ULTRA lending platform to lend your tokens. You can explore some options available in Canada here.
| Platform | Coin | APY |
|---|---|---|
| Kucoin | ULTRA (ultra) | Up to 0.04% APY in Canada |
Once you've selected a platform to lend your ULTRA, transfer your ULTRA 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.
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.
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.
