How to Buy UNI Tokens in Canada
A guide on how to buy Uniswap (UNI) in Canada with Netcoins
“Uniswap is the largest decentralized crypto trading platform in the world, and its native token, UNI, has seen significant adoption within the last year.”
Launched in November of 2018, Uniswap is an Ethereum-based decentralized crypto trading platform that lets users swap cryptocurrencies by tapping into their automated market maker. Different than a traditional centralized exchange, automated market makers (like Uniswap) are made up of liquidity pools for both assets in a trading pair. Users can contribute liquidity and earn passive income on their deposits via trading fees based on a percentage of the liquidity they offer. UNI is the primary token of UniSwap and acts as the project’s governance token that allows holders to vote on critical decisions about Uniswap.
If you are wondering how to buy UNI in Canada, Netcoins is a publicly-traded, fully regulated crypto trading platform based in Canada. With 0% funding fees, free cash withdrawals, and live customer support service seven days a week, we make it simple for Canadians to buy UniSwap (UNI) and other cryptocurrencies.
How to Buy UNI in 3 Steps
Create an Account
Sign up for an account and provide some personal details to get your account verified.
Fund It
Fund your account with a crypto deposit, Interac e-Transfer, or bank wire.
Start Trading
Go to the trade page and enter in the amount you’d like to buy or sell. Start with $10 or more. You decide!
Why Netcoins?
Rapid Transaction Times
Fund and withdraw quickly. Buy and sell instantly. Get your money in and out easily.
Fast Verification
Get verified at lightning speed with our automated KYC process. Get to trading bitcoin as soon as possible.
Highest Rated Support
Our support team is available over email, phone, and live chat to answer all your questions clearly and quickly.
Government Regulated
Netcoins is a registered MSB with FINTRAC. We're also fully regulated and registered with the Canadian Securities Administrators (CSA) and BCSC.
SAFETY FOCUSED
Publicly Owned Company
CSE: BIGG
OTCQX: BBKCF
WKN: A2PS9W
Netcoins is owned by the publicly traded BIGG Digital Assets. This offers an extra layer of safety and transparency to our users.
Why Buy UNI?
Buying UNI is a way to bet on the future growth of UniSwap, a platform that has seen significant adoption since its launch in 2018. As of May 2022, UniSwap has surpassed over $1 trillion USD in cumulative trading volume and commands over 50% market share in the decentralized exchange (DEX) space. Such a large market share speaks volumes to the quality of UniSwap’s product, specifically to the value proposition they offer to crypto traders and holders who want to swap their crypto in a low fee environment, or who want to place their crypto into the UniSwap liquidity pool for yield.
UniSwap is perfectly positioned to grow alongside the decentralized finance (DeFi) industry, opening an opportunity for the potential price appreciation of its native cryptocurrency, UNI. Buying UNI acts as an investment into the future of UniSwap. If continued innovation and expansion of UniSwap’s product offering occurs with the increased adoption of DeFi, UNI could experience significant tailwinds into 2022 and beyond.
What Can You Do with UNI?
Aside from buying and holding UNI as a long-term investment, there are several things you can do with your coins in the meantime to earn passive income and have an influence on the project. By placing your coins into a liquidity pool (such as the one on UniSwap), users are given the opportunity to earn a yield on their holdings. Alternatively, coins can be deposited into a lending platform like yearn.finance which lend assets out to other individuals. The liquidity pool route is much safer as the lending approach carries credit risk. To excerpt influence on changes made to UniSwap, UNI tokens must first be connected to the UniSwap platform, which allows for votes to be held through the governance portal.
Related article: How to Buy Yearn.Finance (YFI) in Canada
How Much UNI Can I Buy?
Like other cryptocurrencies, UNI tokens are highly divisible. Because of this, you are able to buy whole UNI tokens or fractions of it. When opting to buy UNI, using a platform like Netcoins allows you to buy whatever dollar amount of UNI you would like. Several options are available to fit your investing strategy, whether it be buying a single token, several tokens, or fractions of a token. Buying UNI in regular intervals (like days, weeks or months) is known as dollar-cost averaging and can be a great way to average the price you buy at. All of these options are available on Netcoins, Canada’s first publicly-owned, fully regulated cryptocurrency trading platform.
How Do I Store My UNI?
You can buy UNI tokens from crypto trading platforms, like Netcoins, and leave your UNI tokens inside the platform. However, there are much safer options to storing your UNI tokens as leaving them in exchanges can expose them to certain risks like hacking and theft.
There are four different types of UNI wallets: hardware wallets, desktop wallets, mobile wallets and web wallets.
Hardware wallets look like a USB device. They are considered to be offline wallets because they’re not connected to the internet. The fact they’re offline makes them more difficult to find and to hack. As such, they’re typically considered the safest option to store your UNI.
Desktop wallets on the other hand are programs that store your UNI on your computer’s hard drive. Mobile wallets perform the same function as a desktop wallet but on a mobile device instead.
Finally, a web wallet is an online service that sends and stores your UNI on your behalf anywhere, anytime. Similar to checking your email.
Desktop, mobile and web wallets are all connected to the internet (and referred to as “hot wallets”). Like mentioned earlier, they are more susceptible to potential risks. On the other hand, hardware wallets (or “cold wallets”) are considered safer options as they are not connected to the internet.
This is why it’s often advised that Canadians pull out their UNI tokens from crypto trading platforms and send them directly to a hardware wallet. Only in this way, are they in full possession of their UNI and can keep them secure.
Related article: How Do I Keep My Cryptocurrencies Safe?
Is UNI a Good Investment for 2022 & Beyond?
UNI is one of the safest ways to invest in the decentralized cryptocurrency exchange space. Given the project’s dominant market share and track record of solid growth, some of the biggest determinants of its future price performance will be innovation and market growth. To keep up with competitors and maintain their large market share, the UniSwap development team will need to continue releasing new products that intrigue users enough to stay on the platform. If the platform continues to steadily innovate, UNI’s price appreciation will depend heavily on growth in the decentralized exchange space to drive UniSwap’s user growth. Luckily, cryptocurrencies are in their very early stages of adoption, and as long as that continues into the future, UniSwap and UNI are both in an excellent position to continue growing.
This post is for informational purposes only. For proper financial advice, we recommend you speak to a financial advisor.
Frequently Asked Questions
Why buy SUSHI tokens?
Buying UNI tokens is a great way for investors to diversify their portfolio by having non-traditional assets (like UNI) mixed in with traditional assets (like real estate, stocks, gold).
People invest in UNI for three main reasons:
- Its decentralized nature
- It offers investors opportunities to generate wealth through lending and providing liquidity
- Because it’s a governance token where they can help make decisions about the future of Uniswap
Now that you know a little more about how to buy UNI tokens and why it may be a good investment, trust Netcoins to help you. We make it easy to buy UNI crypto so that you can buy as much as you like – or as little as $10 – in a quick and easy way. Contact us if you need support.
Why is KYC (Verification) required?
As a Money Service Business (MSB) registered with FINTRAC, we are required to have a Know-Your-Customer (KYC) process and compliance program in place.
KYC is a process that allows us to verify the identity of our customers, as per Canadian regulations.
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 in Canada.
How can I fund my account?
Your Netcoins account can be funded with a cryptocurrency 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 UNI tokens in Canada.
Can I send my crypto to an external wallet?
Yes, you can either keep a crypto balance within your Netcoins account or withdraw it into your own external wallet. While FIAT withdrawals are free, there is a small withdrawal fee associated with crypto withdrawals.