The cryptocurrency market is constantly attracting new investors due to its potential and looks very promising as more and more people are buying cryptocurrencies. If you are new to the crypto space or a seasoned investor, you would agree that the crypto space comes with its fair share of price volatility.
Although investing in crypto assets is becoming all the more popular, hodlers are always looking for ways to earn greater yield regardless of whether the market is bullish or bearish. This is where a crypto lending platform shines. The idea behind such platforms is simple – it helps you earn interest in your cryptocurrencies.
So when you lend your coins on a crypto lending platform, you will earn interest consistently without actively trading. If you are a resident of Canada looking for crypto interest-earning platforms, then we have put together a list for you of the best crypto wallets in Canada. Let’s take a look.
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Bitbuy
Bitbuy allows users to transfer their cryptos between the Bitbuy wallet and their external wallet. The users can do two things:
- First, they can hold their digital assets in their wallets outside the exchange platform.
- Second, they can deposit Bitbuy supported cryptocurrencies for investing and trading purposes.
Bitbuy aims at providing maximum security to its users. Therefore, they offer a built-in crypto wallet that keeps all the assets secured. In addition, it is partnered with Knox that allows the users to store their Bitcoin holdings safely.
Also read, YouHodler vs CoinLoan vs Hodlnaut [Read Before You Invest]
Nexo
Nexo is based out of London and offers a wide array of products. Its main product is an interesting account where users can earn interest on either their crypto or fiat asset. Nexo also offers crypto loans and Nexo Card, which is a debit card granting users access to Crypto Credit Line, allowing them to spend without selling their crypto.
Nexo is on a mission to replace the traditional banking system and maximize the value of digital assets by offering innovative and tax-efficient crypto products that provide high yields. Currently, Nexo supports 18 crypto assets and a host of fiat currencies like the Pound Sterling. It is an excellent crypto wallet to consider and offers up to 12% APY for hodlers who choose to earn in Nexo tokens.
Also read, BlockFi vs CoinLoan vs Nexo 2021 | Best Lending Platform?
Crypto.com
Crypto.com is a crypto interest-earning platform headquartered in Hong Kong, and its features are also available for users in Canada. The platform offers a lot of services that allow users to buy, sell, trade, and even spend their crypto assets. You can purchase over 50 cryptocurrencies and manage your Crypto.com Visa Card topped up with fiat or crypto to make crypto payments quickly. Moreover, Crypto.com users can also lend out their crypto assets to earn up to 14.5% APY. So if you are looking for a crypto wallet in Canada that is easy to use, then Crypto.com is a good option.
Also read, Top 5 Crypto.com Alternatives To Earn Interest
Binance
The Binance Trust wallet is one of the most user-friendly Canadian cryptocurrency wallet apps accessible right now. It’s an excellent alternative for those seeking for their first wallet.
The Trust wallet supports 14 cryptocurrencies and interacts with the Binance exchange, allowing you to exchange them. You may also use the wallet app to make fresh crypto purchases by rapidly entering a credit card.
Also read, How to Withdraw Funds from Bitbns to Binance?
Coinbase
Coinbase is the world’s second-largest cryptocurrency exchange and one of the finest cryptocurrency exchanges in Canada, allowing customers to trade 150+ cryptocurrencies.
Aside from the custodial wallet, Coinbase provides a self-hosted crypto wallet that is widely regarded as the most secure mobile wallet in the crypto world, allowing you to keep your private keys on your mobile device while maintaining full control over your crypto assets.
The Coinbase Wallet is separate from the Coinbase exchange, and you do not need to sign up for an account to utilize it.
The wallet supports over 4,000 digital assets and includes a dApps browser, allowing you to connect with a vast array of decentralized applications.
Also read, CoinLoan Review | Is it Legit and Safe for you?
Best Crypto Wallets in Canada: Conclusion
For all crypto hodlers based in Canada who would like to deposit their crypto in an interest-earning platform, the top 5 crypto wallets listed above are excellent options. It is one of the most convenient ways to earn passive income with your digital assets without being an active trader. You simply have to sign up for an account, deposit your crypto and start hodlings.
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