SushiSwap was founded in 2020 by a group of anonymous creators who go by the names Chef Nomi and 0xMaki. SushiSwap is an automated market maker (AMM), meaning that it uses a pool of crypto funds provided by its users to allow for the swapping of cryptocurrencies on the platform. SUSHI is the native token of SushiSwap and lets holders vote on changes made to the platform, alongside the opportunity to earn additional rewards through staking. If you are wondering how to buy SUSHI tokens 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 SushiSwap (SUSHI) 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
How Much SushiSwap Can I Buy?
You don’t need to buy a lot of SUSHI to get started! Our minimum purchase amount is 10 SUSHI. Enabling anyone to gain exposure no matter how many dollars they have to invest.
SushiSwap Risk Considerations
SushiSwap presents an exciting value proposition as a decentralized platform, mainly because it allows you to swap between cryptocurrencies. However, there are risks to understand, which may impact the long-term performance of both SushiSwap as a platform and its native SUSHI token. Like all cryptocurrencies, SUSHI can be volatile and has experienced significant swings in price since its inception. SushiSwap has seen impressive price appreciation throughout its lifetime. Despite that, volatility continues to be present and needs to be accounted for as a risk present in SUSHI and all cryptocurrencies.
What Can You On With SushiSwap
SushiSwap offers investors opportunities to generate wealth through a variety of different products. SUSHI is often treated as a long-term investment that can be held in the hopes of generating price appreciation. However, additional things can be done with your SUSHI tokens beyond the simplicity of holding them. By transferring your SUSHI holdings to an external wallet, you are able to connect them to the SushiSwap platform, enabling you to earn passive income through staking. This process enables you to earn additional rewards, maintain control of your SUSHI, while also remaining exposed to its price movements. The staking rewards are generated through a mix of fees collected on the SushiSwap platform whenever a swap occurs.
What Is SLP & What Are The Fee's With SushiSwap?
Liquidity pools on SushiSwap allow anybody to contribute liquidity. After doing so, they get rewarded with SushiSwap Liquidity Provider tokens (SLP tokens). If users deposited $SUSHI and $ETH into a pool, they would receive SUSHI-ETH SLP tokens. These tokens represent a proportional share of the pooled assets and let users withdraw their funds at any time. The great thing about SushiSwap is its flat fee of 0.3%, which does not change. The process involves no “gas fees”; the 0.3% trading fee is applied when swapping any pair of tokens. Most of these fees go to liquidity providers, while the rest going to those who stake their SUSHI tokens
SushiSwap vs Uniswap What's The Difference?
The relationship between SushiSwap and UniSwap is deeply intertwined. UniSwap was created in 2018 on the Ethereum network and was a pioneer in developing the cryptocurrency swap. In the decentralized finance space, UniSwap grew very quickly and sparked several other projects trying to accomplish similar goals. In 2020, SushiSwap was launched as a fork of UniSwap to improve it and create a better product for crypto investors.
Since then, SushiSwap has evolved significantly by creating a user-oriented platform. Their large variety of products spans a wide variety of topics within the finance space, allowing users to earn rewards and access features such as liquidity mining, lending, and margin trading.
If you want to learn more about Blockchains, Bitcoin or Ethereum, follow our educational blog!
FAQs
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 SUSHI in Canada.