How to get started as a Canadian?

I looked at CakeDefi but if you do not have a valid passport you’re unable to get started. Furthermore Binance recently got blocked on Ontario which is where I live so I am not too sure whether PancakeSwap is available to use since it uses the BSC. What platforms are you guys using and are there any resources I should read before putting my crypto. I vaguely know what staking is but I’ve heard you can get great returns on staking/lending pools on DEFI exchanges. Any help is great.

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16 thoughts on “How to get started as a Canadian?”

  1. CakeDefi isn’t Defi. It’s actually a centralized service that might be using DeFi in the back to generate returns. But it’s a custodial service, so it’ll be a single point of failure. DeFi protocols are purely on the blockchain. They won’t ask for a passport.

    In Canada, you can use []( It’s a simple exchange that’s perfect for buying crypto and then withdrawing to your wallet. It doesn’t have BNB so BSC won’t be an option. But it has LUNA, AVAX, FTM, MATIC. They all have awesome defi ecosystems.

    If you really want to use BSC, []( is a decent option.

    Check out White Board Crypto on youtube. It explains chains, staking, liquidity etc in laymens terms.

    And don’t get scammed. Never enter your keys or seedphrase into any website. “Customer service” in reddit/twitter/discord/telegram are all scammers.

  2. First, study research, DYOR before going in. Check how blockchain works properly, check NFTs( ex. Axis, Rario,Wax etc) how they work, what is it, DeFi(Synapse, Ramp, etc), research niches (different blockchains, different data protocols, ex Ocean Protocol and others.) It will seem confusing at first, but you will get a hang of it in a while.

  3. I think CakeDeFi is centralized, where you have to give up ownership of your assets. Pancakeswap is decentralized, and not in anyway connected to the Binance CEX as far as I know.

    But there are lot of protocols where you could put your assets to work, like I’m doing with Rowan, oin, atom & many more.

    Though, I still think you need to do more reading & research to understand how all these things work. You can check [DeFiLlama]( to see list of protocols & respective TVLs.

  4. yeah buddy you can, i use the web 3 wallet Sylo smart wallet since it decentralized and i can stake with it, collect NFT, track bags and also use it decentralized communication features too keep in touch with friends. i suggest you check it out.

  5. I have to agree it’s super confusing as a Canadian. One thing I do think about though is that if it’s this hard for me to get in (and I think I’m somewhat tech savy) then 99% of other people either won’t do it or will wait for it to get easier, hence it’s probably a good time.

    Also anyone have any experience with I want to buy some Fox tokens. I really like their platform and they seem to be somewhat put together. I’ve listened to their Discord and seem to have some smart people on board. Any thoughts?


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