MKR is the official governance token of MakerDAO, a project founded in 2015 by entrepreneur Rune Christensen. The project is tasked with managing DAI, one of the largest and most popular decentralized stablecoins in the crypto market. Each DAI is pegged to the price of the U.S. Dollar and has gained credibility by maintaining its price (even throughout the 2018 crypto bear market). If you are wondering how to buy MKR in Canada, Netcoins is a publicly-traded, fully regulated crypto trading platform. With 0% funding fees, free cash withdrawals, and live customer support service seven days a week, we make it simple for Canadians to buy MKR tokens and other cryptocurrencies.
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 MKR in Canada.
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TrustpilotWhy Buy Maker?
An investment in MKR is a bet on the future growth and success of the DAI stablecoin. As the official governance token of MakerDAO, buying and holding MKR tokens gives you exclusive voting rights to key decision-making surrounding DAI. This voting power is dependent on how much MKR tokens you hold, creating a correlation between MKR held and influence you have on the MakerDAO.
Does MKR have a supply cap?
What is MakerDAO used for?
How are Maker and DAI Connected?
The connection between MKR and DAI is deeply rooted, creating a symbiotic relationship where one cannot function properly without the other. MakerDAO plays a crucial role in operating the DAI ecosystem. As a decentralized autonomous organization (DAO) it is also a pillar in one of DAI’s most significant value propositions, decentralization.
If you want to learn more about Blockchains, Bitcoin or Ethereum, follow our educational blog!
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 MKR in Canada.
