Plasma is a Layer 1 blockchain built specifically for stablecoins, offering near-instant, low-cost digital dollar transfers, with XPL as its native token.
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XPL is the native token of Plasma, a Layer 1 blockchain purpose-built for stablecoin payments. Its mainnet launched in September 2025 with the goal of making digital dollars, such as USDT, as easy to send as a message. Plasma combines Bitcoin-anchored security with full Ethereum (EVM) compatibility, and uses a paymaster system so users can send stablecoins with zero fees while more complex transactions are paid for in XPL. The XPL token is used to secure the network through staking, to pay gas on transactions the paymaster does not cover, and to vote on governance. If you want to know how to buy XPL in Canada, Netcoins is a publicly traded, fully regulated crypto trading platform with a transparent trading fee, free cash withdrawals, and live Canadian-based support.
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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
<h3>What Is Plasma (XPL) and Why Buy It?</h3><p>Plasma is one of a new group of Layer 1 blockchains focused on a single job: moving stablecoins at scale. Rather than trying to host every kind of app, it optimizes for fast, low-cost digital dollar payments, with zero-fee USDT transfers handled by a built-in paymaster, security anchored to Bitcoin, and full compatibility with Ethereum smart contracts. Note that this is the Plasma Layer 1 launched in 2025, which is unrelated to the earlier Plasma scaling framework proposed for Ethereum in 2017.</p><p>XPL is the token that powers and secures the network. Validators stake XPL to help run the chain, it pays for transactions the paymaster does not cover, and it gives holders a vote in governance. Plasma launched with strong liquidity and institutional backing, but it is a very new project, so its token can be especially volatile. Investing in XPL involves risk, including the risk of loss, and nothing here is financial advice. Always do your own research before buying.</p>
FAQs
Why is KYC (Verification) required?
<p>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.</p>
What do I need to provide for your verification process?
<p>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 do not 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.</p>
How can I fund my account?
<p>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 will find that it is super easy to buy XPL in Canada.</p>
What is XPL used for?
<p>XPL is used to secure the Plasma network through validator staking, to pay gas fees on transactions that are not covered by the network's zero-fee stablecoin paymaster, and to vote on governance proposals that shape the protocol.</p>