Buy SushiSwap in Canada
SushiSwap made simple
Everything you need to know about SushiSwap and how to start investing in it.
-$0.04 (-1.97%) past 24 hours
- Market Cap
- Circulating Supply
- 24h low - high range
- $1.66 - $1.96
SushiSwap is a decentralized exchange that offers novel ways to invest your money in the wild world of decentralized finance. The exchange was rebranded to Sushi but has not shed the old name completely. It is powered by a token called Sushi.
The exchange has a wild origin story. When it launched as SushiSwap, its main idea was to fork the code that powered Uniswap, the most popular Ethereum-based decentralized exchange.
But SushiSwap offered one thing that Uniswap did not at the time: if the people bankrolling Uniswap’s liquidity pools moved all their money to SushiSwap, SushiSwap would provide them with free SUSHI tokens. This idea, known as “vampire mining”, was incredibly successful and helped SushiSwap swell with funds, boosting the price of SUSHI tokens.
Since then, Sushi has moved away from its sole focus on being a decentralized exchange. These days, it’s working on new non-custodial financial products, such as lending, borrowing, leveraging and investing. In sum, all ways to increase the return on your cryptocurrencies.
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 SushiSwap?
SUSHI is a governance token. This means that you can use it to vote on the future of the protocol, where one token is equal to one vote.
However, SUSHI also functions as an incentive for people to plonk their cryptocurrencies into the protocol, a little like a loyalty token. Unlike Air Miles or supermarket coupons, SUSHI is a cryptocurrency token that can be traded on secondary markets or held for speculative purposes.
On Sushi, you can earn money as a liquidity provider, stake SUSHI for voting rights, or earn more Sushi by investing in “farms”—pools of funds that earn SUSHI tokens by, in turn, investing pooled assets in other cryptocurrency products.
Is SushiSwap a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in SushiSwap 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 SushiSwap 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 SushiSwap 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 SushiSwap to your Wealthsimple account in just a few taps.
Other cryptos to explore
More info about SushiSwap
Want to take a deeper dive? Check out these articles about SushiSwap 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 SushiSwap 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 SushiSwap transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
SushiSwap’s current market cap is 474,184,985.
The current price for SushiSwap in Canadian dollars is $1.82.
Buying SushiSwap 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 SushiSwap 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 SushiSwap. 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.