How to Buy Avalanche AVAX in Canada

“Avalanche (AVAX) is a smart contract-capable blockchain platform focused on transaction speed, low costs, and eco-friendliness.”

Avalanche was launched in September 2020. Emin Gün Sirer is the current CEO and founder of Ava Labs, which is the company that developed Avalanche.

To understand Avalanche, you can think of it as a platform created for platforms. What that means is that Avalanche allows anybody to build decentralized applications (dApps) and to produce their own blockchains that connects to it.

The goal of Avalanche is to outperform older blockchains like Ethereum, which suffer from centralization, scalability issues and slow transaction speeds. Instead, it wants to be more versatile, accessible, decentralized and secure. For this reason, many people are excited about the future of Avalanche and its native cryptocurrency, AVAX.

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Things to Consider Before Investing in AVAX

Since launching in 2020, AVAX (the native coin of the Avalanche blockchain) has become one of the top 20 cryptocurrencies by market capitalization (as of 2022). Market cap is the number of coins in circulation multiplied by the current price point of one coin. So, the fact AVAX has grown in value over a short period of time is pretty impressive.

Like bitcoin or ether, AVAX has created millionaires overnight but it has also made people lose all their wealth.

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With that said, buying AVAX is still considered a risky investment given its volatility. But high volatility can work in both directions. It can work in your favour 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.

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In the end, it’s up to you to decide how much you wish to invest in AVAX. The beauty of buying AVAX is that anyone, anywhere around the world can buy fractions of an AVAX coin. If you decide to buy AVAX in Canada 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 AVAX (like 1% or 10%)
• Dollar-cost-averaging (buying a set amount of AVAX every day, week or month)
• Buying the dip (buying when AVAX prices decrease)
• Starting as small as $10 to test it out yourself.

One of the best ways to keep your AVAX safe is to remove them from a crypto trading platform and transfer them directly to a crypto wallet you own. By transferring your AVAX into a hardware wallet you are protecting your asset against hacking, fraud and theft. You’re ultimately in full possession of it.

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 AVAX) in order to protect your financial well-being in the future.

 

How much AVAX can I buy?

You don’t need to buy a lot of AVAX to get started!

You can buy fractions of an AVAX coin. Many beginners start their AVAX journey by accumulating small amounts of AVAX. You can start as small as $10, or invest up to $10 million with Netcoins.

 

Why Buy Avalanche?

Like bitcoin, AVAX is scarce in supply. It has a maximum supply of 720 million tokens. Interestingly though, AVAX users can decide how fast new coins are created (and its fee structure), which can help influence its value.

When it comes to the blockchain network itself, Avalanche is competing against Ethereum in terms of scalability and transaction processing speed (it processes 4,500 transactions per second). In this way, Avalanche is set to be fast, secure and accessible.

There’s another reason Avalanche is appealing to many investors and that is because of finality.

Finality is important in crypto transactions because it’s the point when a transaction cannot be changed. It’s similar to your credit card payments. You’ll notice your transaction might be saying “pending” until it has been confirmed (or reached finality). When compared to other blockchains, Avalanche is the fastest blockchain “as measured by time-to-finality.”

Reaching finality in an efficient and quick way is very important to the success of decentralized finance (DeFi). When finality is reached it means you now own what you’ve just bought and there’s no changing that. The system can be trusted.

The way Avalanche reaches finality in such an accelerated way is by having three interconnected blockchains with each one focusing on a specific tasks. In this way, the blockchain can be fast without sacrificing security or scalability. Developers are excited about Avalanche’s innovative future and are already running 150 projects on top of it – and that’s a great sign.

 

Avalanche, AVAX & The Future

Like mentioned earlier, Avalanche has a robust blockchain, an experienced management team and has attracted a number of projects to it. Plus, at the end of 2021 they announced a partnership with Deloitte to enable “a new disaster recovery platform”. By doing so, Deloitte could help state and local governments show their eligibility for federal emergency funding.

As Avalanche continues to compete with Ethereum and other smart contract platforms (like Solana, Cardano, EOS and more), then we’ll likely see its price and its market cap continue to grow. However, the challenge is that there will be more cryptocurrencies like AVAX entering the market, which could push the value of AVAX down.

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Although, AVAX does not seem to be stopping any time soon. If anything it continues to build a fascination new blockchain for the future of DeFi.

Add to that the fact that many investors are desperately attempting to protect their wealth from today’s uncertain times, and are turning to cryptocurrencies like AVAX.

Wondering how to buy AVAX in Canada? Netcoins is a publicly owned, fully regulated crypto trading platform based in Canada. Simply create an account with Netcoins, fund it with Canadian dollars and head to the trade page to buy or sell AVAX. Netcoins offers 0% funding fees and free cash withdrawals with e-Transfers, along with live customer support service seven days a week.

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.