Buy SKALE Network in Canada
SKALE Network made simple
Everything you need to know about SKALE Network and how to start investing in it.
+$0.02 (13.85%) past 24 hours
- Market CapThe 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.
- Circulating SupplyThe amount of coins that have already been created and are available in the market.
- 24h low - high rangeLow-high range over the past 24 hours.
- 0.1262016 - 0.1467158
SKALE Network 101
SKALE (SKL) is the native currency of the SKALE Network, a sidechain network for Ethereum. As the name suggests, its goal is to help the Ethereum network scale — to speed things up, even when there are more users.
Sidechains like SKALE don’t actually make the Ethereum blockchain faster. Instead, they remove some of the burden from the main blockchain by redirecting users to a cheaper and faster blockchain.
SKALE removes gas fees for users of decentralized applications entirely. Instead, the developers that launch blockchains on SKALE must pay subscription fees to validators — the network’s equivalent to miners on Bitcoin or another system.
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
What can you do with SKALE Network?
SKL is the utility token on the platform. Blockchain developers use the token to rent resources on the SKALE Network, and holders can stake the token to earn a cut of these fees or vote on proposals for how the network is governed.
Is SKALE Network a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in SKALE Network 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 SKALE Network 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 SKALE Network 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 SKALE Network to your Wealthsimple account in just a few taps.
Other cryptos to explore
More info about SKALE Network
Want to take a deeper dive? Check out these articles about SKALE Network and the world of crypto.
What is Cryptocurrency?
Cryptocurrencies are a type of digital asset that run on blockchain technology. Here’s everything you need to know.
Top Cryptocurrencies and Crypto Exchanges
Here’s how to buy and sell cryptocurrencies on crypto exchanges and other trading platforms.
What is Blockchain? The Ultimate Guide
A quick primer on the building blocks needed to understand the basics of blockchain
Ready to get started?
Download the Wealthsimple Trade app, create your account, and start trading SKALE Network with just $1. It’s that simple.
Yep! When you open a Wealthsimple Crypto account, you can get started with anywhere from $1 to $1,500 instantly.
Generally speaking, the CRA treats cryptocurrencies as a commodity. Here’s what they say:
Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances. Similarly, if earnings qualify as business income or as a capital gain then any losses are treated as business losses or capital losses.
Always keep solid records of any SKALE Network transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
SKALE Network’s current market cap is 717,571,150.
The current price for SKALE Network in Canadian dollars is $0.15.
Buying SKALE Network with Wealthsimple is, well, simple. The first thing you need to do is open and fund a Crypto account in the Wealthsimple Trade app. You can connect your bank account and add up to $1,500 instantly.
From there, follow these steps: 1. Tap the magnifying glass icon in the top right corner of your screen 2. Type in SKALE Network 3. Tap Buy 4. Enter the dollar value of cryptocurrency you'd like to buy and tap Continue 5. Review the order details and tap Confirm order
You can choose between two different order types when buying SKALE Network. A market order lets you buy or sell crypto immediately at the best available price at the time. A limit order lets you buy or sell crypto at a specific price or better.
You can withdraw funds from the cash balance in your Crypto account and move those funds to your bank account. Withdrawals typically take around 2 - 3 business days.
A crypto wallet — often called a “hot wallet” — is a location for holding crypto “on-chain” (i.e. linked to the blockchain versus off-chain cold storage.) Many users use wallet applications to help them manage their blockchain addresses, since each chain uses its own addresses.