Buy 0x in Canada
0x made simple
Everything you need to know about 0x and how to start investing in it.
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- Market Cap
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- 0.3676959 - 0.3869135
Ever wanted to swap cryptocurrency tokens, but didn’t trust the unregulated companies that operate cryptocurrency exchanges? Consider decentralized exchange protocols like 0x, protocols that let you swap Ethereum-based cryptocurrency tokens without having to entrust a cryptocurrency exchange with your money.
There are lots of different decentralized exchanges: popular examples include Uniswap, Sushi and Bancor. 0x is more of the same but with a few differences. The first is that 0x is a decentralized exchange aggregator, similar to something like 1inch. It draws on several reputable sources of liquidity to try and get you the best prices on a trade; when you buy a token, the funds could come from liquidity pools on Uniswap, Maker’s Oasis, Curve or 1inch’s Mooniswap, to name a few. 0x also has its own liquidity pools, including private pools for institutional investors.
The second difference is that 0x is very popular as an API. You can trade directly on its consumer-facing decentralized exchange, Matcha, or through other decentralized finance projects, such as TokenIon, Zapper and Zerion. It’s possible that you’ve traded through 0x without even knowing it.
A token called 0x (trades as ZRX) powers this whole network. It’s a utility token, meaning it was created with a specific purpose in mind. First, it is used to pay apps that host an order book using 0x—they earn these ZRX tokens as transaction fees. You can also delegate your ZRX to one of these market makers to earn more ZRX. Lastly, you can use ZRX as a governance token, meaning you can use it to vote on how the platform is run.
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 0x?
ZRX is the backbone of the 0x protocol. The 0x protocol is a decentralized exchange aggregator: a fancy term for a protocol that sifts through different cryptocurrency exchange protocols to try and get you the best price on a trade.
Whenever you process one of these trades (when you buy or sell a token through a site that relies on 0x) you’ll have to pay a small amount of ETH to cover your transaction. This money is sent to a big pool, then paid out to any ZRX holders that have staked their money within the 0x protocol. You can also hold ZRX and use it as a governance token, meaning that you can use it to vote on the future of the protocol. This might include voting on parameters that alter how the protocol works, or how to disburse funds to teams of developers that want to build on 0x.
Is 0x a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in 0x 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 0x safe
As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Gemini Trust Company LLC and Coinbase Custody) for cold storage.
FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best 0x 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 0x to your Wealthsimple account in just a few taps.
Other cryptos to explore
More info about 0x
Want to take a deeper dive? Check out these articles about 0x 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
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What is Blockchain? The Ultimate Guide
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Ready to get started?
Download the Wealthsimple Trade app, create your account, and start trading 0x with just $1. It’s that simple.
0x is a decentralized exchange aggregator. It’s a protocol that rifles through different exchange protocols to get you the best price on cryptocurrency trades. It’s integrated into Matcha, an exchange aggregator created by 0x Labs, and in third-party sites like Zerion and Zapper. The 0x token, also known as ZRX, is a governance token that you can use to vote on how the protocol is run. You can also stake it in pools to earn a cut of 0x’s transaction fees.
As of November 1, 2021, there are 845 million ZRX tokens in circulation, and a maximum supply of 1 billion. The project raised $24 million in an initial token offering in 2017. At the time, that was 50% of the total supply. The rest went to the team, a development fund and early investors and advisors.
You can use ZRX to vote on the future of the 0x protocol. To do so, you’ll have to stake your tokens within the 0x protocol. Staking tokens also entitles you to a share of a cut of all the transaction fees paid using the 0x protocol. You can also buy and sell ZRX as a speculative asset; it’s an Ethereum token that trades on all major cryptocurrency exchanges.
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 0x transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
0x’s current market cap is 377,330,300.
The current price for 0x in Canadian dollars is $0.38.
Buying 0x 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 0x 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 0x. 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.