Ethereum was created in 2013 by Vitalik Buterin. Although Ethereum and Ether are used interchangeably, Ethereum is the name of the blockchain while ether is the name of its native cryptocurrency. If you’re looking to buy Ethereum in Canada, it’s more likely that you’re really looking to buy Ether (ETH). Ethereum took the technology Bitcoin created and made it more than just currency. In reimagining the financial world and beyond, Ethereum has allowed companies to manage property, contracts, build apps, advertise, buy goods, play games, organize people and so much more. To quote journalist Camila Russo: “Bitcoin wanted to be peer-to-peer money. Ethereum wanted to be peer-to-peer everything.” Wondering how to buy Ethereum in Canada? Netcoins is a publicly owned, fully regulated crypto trading platform. Simply download the app from the Google Play or Apple App store, create an account with Netcoins, fund it with CAD and head to the trade page to buy or sell Ethereum (ETH). Netcoins offers 0% funding fees and free cash withdrawals, along with live customer support service seven days a week.
1. Create an Account
Visit the Netcoins website and click on the sign-up button. Or download the Netcoins app from the app store for mobile. Enter your email address, create a strong password, and agree to the terms and conditions. You will receive a confirmation email click on the link to verify your email address.
2. Fund it
Choose your preferred funding method: bank wire transfer, Interac e-Transfer, crypto deposit, or cash deposit. Follow the prompts to transfer funds into your Netcoins account. The process is quick and incurs no fees.
3. Start Trading
Once you have funds in your Netcoins account, you'll find that it's super easy to buy ETH in Canada.
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TrustpilotThings to Consider Before Investing in ETH
Ethereum saw great success in 2021. Like Bitcoin, it has created millionaires overnight but it has also made people lose all their wealth.
With that said, buying ether is still considered a risky investment given its volatility. But high volatility can work in both directions. It can work in your favor and yield great potential for return. And it can work against you by causing you to take on big losses. That is why it’s important to never invest more than you’re ready or willing to lose.
For many investors though, buying Ether in America is an attractive and lucrative investment. As Christopher Matta, president of 3iQ Digital Assets said: “This is like investing in actual infrastructure of a New Age, decentralized Internet.” That’s why investors are willing to sustain short-term risk for long-term rewards.
In the end, it’s up to you to decide how much you wish to invest in ether. The beauty of buying ETH is that anyone, anywhere around the world can buy fractions of Ether. If you decide to buy ETH but are not sure how much to buy, you can start by practicing any one of these strategies:
Investing a percentage of your wealth into ether (like 1% or 10%)
Dollar-cost-averaging (buying a set amount of ether every day, week or month)
Buying the dip (buying when ether prices decrease)
Starting as small as $10 to test it out yourself.
One of the best ways to keep your ETH safe is to remove them from a crypto trading platform and transfer them directly to a crypto wallet you own. By transferring your ether into a hardware wallet you are protecting your asset against hacking, fraud and theft.
Finally, it can be wise to build an investment portfolio that has a mix of traditional assets (like real estate, gold, stocks) and non-traditional assets (like ether) in order to protect your financial well-being in the future.
Why Buy ETH?
The Ethereum blockchain has proven that developers can build decentralized applications and tokens on top of it (not just currencies). It allows any developer to build any project or cryptocurrency on top of its blockchain. For example file storage, social networks, advertising and loans. All this and more while removing the middlemen from the process. But to participate in any of this, you need ETH (Ether) – the currency of Ethereum apps.
Ethereum also facilitates smart contracts, which are contracts that self-execute once the agreements outlined within it are met (this is because they’re written in code). Smart contracts remove the need to trust many people in the process of buying something (and paying the fees).
In addition, here are four more reasons why people buy ether.
Ethereum is decentralized. Ethereum is about reimagining the internet. The ethereum network allows smart contracts and decentralized applications to be built on top of it by any developer from anywhere in the world.
There is a max yearly supply of ether. The supply of Ether is predefined and publicly known. While Bitcoin has a limited supply of 21 million coins, ether has an unlimited supply but has an annual maximum supply of 18 million ether.
Ether is highly divisible. Ether can be bought in fractions, with the smallest unit being called a wei. That is one quintillionth of an ether (.000000000000000001). This allows for micro-transactions and investors to start small.
Ethereum has smart contracts. Smart contracts are self-executing contracts with the terms of agreements written into code. They are traceable, transparent and irreversible. Through them, the middlemen and their fees are removed.
What’s the Difference Between Ethereum and Bitcoin?
With Bitcoin being the most popular cryptocurrency, and Ether being the second largest cryptocurrency by market cap, it’s only natural that people compare the two.
If you want to know specifically What Ethereum is? click here.
Despite their competitiveness, ether and Bitcoin share many similarities. They’re both decentralized (as in they’re not issued or managed by centralized authorities), they both use blockchains (a public, distributed ledger to verify transactions), and they’re both scarce assets (in August, the Ethereum network began burning ether every day).
Yet, there are distinct characteristics between the two biggest cryptocurrencies that are worth mentioning.
For starters, Bitcoin was designed to do one thing very well and that is to send money from a person directly to another person without an intermediary involved, like a bank. Bitcoin was also created to be an alternative store of value and currency. Basically, an alternative to gold and USD.
Ethereum on the other hand is a platform where developers can build applications and programs on top of it. In the same way that developers can build music apps and social media apps for a mobile phone, ethereum developers can innovate on top of the Ethereum network. From social networks to digital collectibles (or NFTs), the options to build on top of the Ethereum network and the need for its native currency – Ether – are endless.
Bitcoin and Ethereum are not necessarily competing with each other as much as they’re working synergistically to decentralize the world as we know it. Like all new technologies and innovations, they take time to achieve. It’s for this reason we see volatility in both assets as more people learn and invest in the cryptosphere.
Depending on which cryptocurrency you find most revolutionary, you can invest in it accordingly. When it comes to investing in Bitcoin or ether, it can be a good idea to invest a small portion and accumulate assets over time.
Related article: The Best Ways for Investors to Keep Their Crypto Safe
Ethereum & The Future
Ethereum is a decentralized blockchain platform known for enabling smart contracts and DApps, transitioning to a more sustainable Proof-of-Stake model. After achieving scalability improvements with sharding and Layer 2 solutions, Ethereum's future focuses on enhancing decentralization through stateless clients, strengthening security, and maintaining its role as a leading platform for decentralized innovation.
If you haven’t invested in Ethereum yet, it’s not too late as the network continues to improve and scale. Make sure that if you do buy ETH, you’re investing an amount that feels safe and comfortable for you. Holding your investment in ETH may pay off in the long-term as Ethereum continues to push the boundaries of innovation.
Looking to buy and sell ETH? Netcoins is a publicly owned crypto trading platform to be fully regulated. Simply create an account with Netcoins, fund it with an interac e transfer (more funding options available) and head to the trade page to buy ETH. Sign up today!
This post is not considered to be financial advice, but general information regarding cryptocurrency. Always make sure to conduct independent research before investing in cryptocurrency or any other investment.
Staking Wallets: Hardware vs. Software
Choosing the right wallet is like picking the perfect tool for the job. When it comes to staking your Ethereum, you've got two main options: hardware wallets and software wallets. Let's break down each one to help you decide which suits you best.
Hardware:
Think of hardware wallets as your personal Fort Knox—a physical fortress for your assets. These are tangible devices, resembling USB sticks, designed to keep your cryptocurrency safe from online threats like hacking. Popular choices include Ledger Nano S and Trezor, known for their top-notch security. With a hardware wallet, your private keys stay offline, adding an extra layer of protection, especially when staking larger amounts of Ethereum.
Software:
On the flip side, there are software wallets—digital apps accessible across various devices. Examples include MetaMask, Trust Wallet, and Rabby Wallet. Software wallets offer convenience, allowing easy access and management of your staked assets. While they're user-friendly and integrate smoothly with staking platforms, some may worry about their security compared to hardware options. With proper usage and regular updates, though, software wallets can still be secure.
Choosing between hardware and software wallets boils down to your priorities. If you prioritize maximum security and don't mind sacrificing some convenience, a hardware wallet might be your best bet. But if accessibility and ease of use are your top concerns, a software wallet could be the way to go. Just make sure your chosen wallet is compatible with Ethereum staking platforms in Canada for a seamless staking experience.
Why Stake your ETH with Netcoins?
Looking for a trusted Canadian platform to stake your Ethereum? Enter Netcoins. We offer a chance to earn rewards by staking your Ethereum holdings, adding another avenue for passive income in the crypto world. With a user-friendly interface and competitive rewards, Netcoins stands out as a solid choice for Ethereum staking in Canada.
Selecting the right platform is key—it affects your potential rewards and overall experience. By exploring established Canadian platforms like Netcoins, you can make informed decisions based on factors like yield opportunities, security measures, and customer support. Whether it's APY, lock-up periods, or security protocols, understanding these elements helps you choose a platform that aligns with your goals and preferences.
As you dive into the world of Ethereum investment, remember to arm yourself with knowledge about market setups and essential principles. Let's navigate this landscape with confidence together.
Why is KYC (Verification) required?
Netcoins Inc. is a licensed money service business under FINTRAC, and a registrant under the Provincial Securities Commissions, and adheres to the strict guidelines set by them for Money Transmitter Businesses and Securities Registrants. We are required to have a Know-Your-Client (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers.
What do I need to provide for your verification process?
You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver’s license). Most users are verified at this point through our automated process. If you don’t pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business.
How can I fund my account?
Your Netcoins account can be funded with a crypto deposit, Interac e-Transfer, or a bank wire transfer. Once you have funds in your Netcoins account, you’ll find that it’s super easy to buy ETH in Canada.
