5 Best Crypto Wallets in Canada
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.
Also read, Top 5 Crypto to buy in January
Hodlnaut is a Singapore-based crypto interest-earning platform available globally, including in Canada. The best thing about Hodlnaut is that it offers up to 12.73% APY (one of the highest interest rates). You can deposit coins like BTC, DAI, ETH, USDC, USDT, and WBTC and make the most of your cryptocurrency. Moreover, Hodlnaut gives hodlers an option of earning interest in the crypto of their choice with its innovative Preferred Interest Payout feature. With this feature in place, if a user deposits BTC, then he/she can choose to earn interest in any of the six supported currencies.
Hodlnaut has an easy-to-use platform and is available on both iOS and Android devices. The platform is designed for convenience and takes a security-first approach. Hodlanut has also partnered with Fireblocks to provide good security for the digital assets, and users can also avail of an optional Nexus Mutual Custody Cover that acts as an additional step to safeguard the funds. So if you are looking for a safe and secure platform that offers high-interest rates in Canada then Hodlnaut is the right choice.
Also read, YouHodler vs CoinLoan vs Hodlnaut [Read Before You Invest]
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 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
BlockFi is a US-based crypto lending platform that is very popular in the crypto space. The company commenced its operations in 2018 and has got excellent traction ever since. With a BlockFi wallet, you can earn up to 9.5% interest on cryptocurrencies. So if you are already a hodler, you can deposit your coins with BlockFi and start earning interest on them.
BlockFi also lets you borrow against your coins. So instead of selling your precious coins when you need funds, you can take a loan on them. The BlockFi platform lets you trade crypto like BTC, LTC, ETH, USDC, and GUSD.
BlockFi has also launched a Bitcoin Rewards Visa Credit Card with which users can earn rewards in Bitcoin. The card offers a 1.5% rewards rate in Bitcoin on all card purchases with no annual fee. Plus, it allows you to earn 3.5% back in Bitcoin within your first three months with the credit card.
Also read, BlockFi vs CoinLoan vs Nexo| Best Lending Platform?
Based in Estonia, CoinLoan offers its services to users in Canada too. Its mission is to give a simple and easy-to-use platform for all crypto investors where they can earn more on their digital assets. Not just that, CoinLoan also has a fiat-on-ramp service with which hodlers can transfer their crypto holdings from an exchange to a lending service on one platform. With the CoinLoan interest account, you can earn up to 12.3% APY and support 25 assets, including the popular ones like BTC, USDC, and ETH.
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.