Buy Kyber Network Crystal in Canada

Kyber Network Crystal made simple

Everything you need to know about Kyber Network Crystal and how to start investing in it.

Current Price

$0.7440 CAD

+$0.017998 (2.48%) past 24 hours

Market Cap The value of the entire supply of a specific cryptocurrency or token. It’s calculated by taking the price of a coin/token and multiplying it by the total number of that coin/token in circulation.: $177,367,700.29
Total Supply The total amount of coins currently in existence minus any coins that have been burned or removed from circulation.: $239,378,435.56
24h low - high range Low-high range over the past 24 hours.: 0.6752448 - 0.7461708
7 day low - high range Low-high range over the past 7 days.: 0.658956 - 0.7970456
52 week low - high range Low-high range over the past 52 weeks.: 0.51212304 - $1.60

Kyber Network Crystal 101

The Kyber Network is a set of decentralized liquidity protocols based on the Ethereum blockchain. On a decentralized exchange called KyberSwap, anyone can use these pools to swap Ethereum based tokens, like ETH, Aave and the Basic Attention Token, without signing up for an account or submitting identification.

You can swap between Ethereum-based tokens by drawing on Kyber’s reserves. These reserves, known as liquidity pools, are vast funds containing pairings of Ethereum-based cryptocurrency tokens. Anyone can contribute to these pools, and they earn fees for doing so.

Several decentralized exchanges, like Sushi and Uniswap, use this structure; this type of model is called an “automated market maker”. Kyber operates slightly differently, as it draws on the liquidity of other pools, like Uniswap, to try and get you the best prices on your token swaps.

The token swapping service is just one implementation of the Kyber protocol. Other blockchains, like TomoChain, use versions of the protocol on their blockchains. sites like price aggregator CoinGecko, and wallets like MyEtherWallet or Coinbase Wallet, have integrated the service to facilitate token swaps.

A token called the Kyber Network Crystal (KNC) powers the network. It’s an ERC-20 token, meaning it’s based on the Ethereum blockchain.

Why Wealthsimple Crypto?

Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?

Sign up in minutes right from your phone or laptop
Start trading crypto with as little as $1
No account minimums
No clunky dashboards — just one super simple app
Best of all: you don’t need to be an expert in crypto or blockchain to get started

Get started with Crypto

What can you do with Kyber Network Crystal?

The Kyber Network Crystal was designed for two main purposes. The first is to serve as a governance token so that holders can use it to vote on important designs that concern the future of the protocol. This might include voting on upgrades to the protocol in the KyberDAO (DAO stands for decentralised autonomous organisation), or working out how to distribute funds to projects that want to build on Kyber. The second is to stake the token within the protocol. Stakers are rewarded with the KNC token, distributed from network transaction fees incentivising people to hold the token to support the network.

Is Kyber Network Crystal a smart investment?

Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Kyber Network Crystal or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.

How we keep your Kyber Network Crystal safe

As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Coinbase Custody) for cold storage.

FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best Kyber Network Crystal prices.

And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.

If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your Kyber Network Crystal to your Wealthsimple account in just a few taps.