Buy The Graph in Canada
The Graph made simple
Everything you need to know about The Graph and how to start investing in it.
+$0.01 (5.74%) past 24 hours
- Market Cap
- Circulating Supply
- 24h low - high range
- 0.1933032 - 0.210672
The Graph 101
The Graph, or GRT, is a cryptocurrency that powers a protocol designed for indexing blockchain data. Because all blockchains are different and methods for indexing data diverge, blockchain data is a pain to navigate for data scientists. The Graph standardizes the process, making it easier to perform advanced searches or determine relationships in large amounts of data.
The protocol functions like a decentralized API, and has already proven invaluable for decentralized finance protocols like SushiSwap or Curve. These decentralized APIs are called ‘subgraphs’, and decentralized applications can interface with them through The Graph’s proprietary language, GraphQL.
The thing that distinguishes these “decentralized” APIs from regular APIs is that these searches aren’t provided by the protocol itself but by a decentralized network of computers, whom the network incentivizes to do good work by dangling Ethereum-based cryptocurrency tokens, known as GRT, before them.
Network operators in The Graph can play multiple roles. Some actors index the data, some ‘invest’ in indexers to fund their data-driven expeditions, and others propose new data to sort into subgraphs. All this work is in service of earning GRT, paid by those who want the data curated. Although GRT is a fungible Ethereum-based token, The Graph sorts data on many more blockchains, including Polkadot, NEAR, Solana and Celo.
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 The Graph?
What you do with GRT tokens depends on your motivations and your position within the network. If your goal is to speculate on the price of GRT, you can buy and hold the tokens from brokerages like Wealthsimple, or on decentralized and centralized exchanges. GRT was one of the fastest risers in 2021, and those who got in at the right time were not disappointed with the results.
You can also put your GRT to work, delegating it to indexers in order to earn a cut of the profits they make from sorting data. Again, this requires speculation. You choose which indexer to delegate tokens to, and some will be more profitable than others. Indexers who focus on sifting through unpopular data are unlikely to make as much money as an indexer who sorts through the next hot blockchain project. Because GRT is an Ethereum-based token, you can stake it within any DeFi protocol that accepts it.
Another option is to earn GRT tokens, either by becoming an indexer or by curating subgraphs. Or you could become a customer, shelling out GRT tokens to get indexers to handle your queries. And you can use GRT tokens as a voting chips within The Graph’s governance system.
Is The Graph a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in The Graph 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 The Graph 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 The Graph 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 The Graph to your Wealthsimple account in just a few taps.
Other cryptos to explore
More info about The Graph
Want to take a deeper dive? Check out these articles about The Graph and the world of crypto.
What is Cryptocurrency?
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Top Cryptocurrencies and Crypto Exchanges
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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 The Graph with just $1. It’s that simple.
GRT is the native utility and governance token of The Graph, a protocol that functions as a kind of decentralized API for crypto projects. Anonymous network operators on The Graph earn GRT tokens for sorting through data at the request of crypto protocols, who depend on its data-sifting capabilities to power their products.
GRT incentivises network operators to perform these searches effectively and trustworthily, replacing the trust that API users once placed in the service provider of a traditional API.
You don’t have to get involved in this vast data market to speculate on GRT’s price; the token soared in price in 2021. GRT also functions as a governance token, meaning that holders can use the token to vote on the parameters that define the network.
As of March 2021, there are 4.72 billion GRT tokens in circulation out of a total supply of just over 10 billion. At a current price of $0.3, that amounts to a market capitalization of $1.7 billion. The token’s supply will increase over time. Until a vote in the governance mechanism changes things, GRT will increase in supply by 3% each year; the tokens will be awarded to the indexers who power The Graph’s data services.
You can spend GRT within The Graph’s data-driven ecosystem. You could bet on an indexer – the network actor who sifts through data at the request of the people who want to use its decentralized API service – by delegating funds to them. You could vote on the way the network operates by using GRT as voting chips within the protocol’s governance mechanism. Or you could make use use of GRT’s properties of a volatile ERC-20 token and earn yields in DeFi protocols, or simply hold it to speculate on its price.
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 The Graph transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
The Graph’s current market cap is 2,164,853,249.
The current price for The Graph in Canadian dollars is $0.21.
Buying The Graph 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 The Graph 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 The Graph. 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.