Buy Ankr in Canada
Ankr made simple
Everything you need to know about Ankr and how to start investing in it.
-$0.00 (-2.25%) past 24 hours
- Market Cap
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- 0.0297122 - 0.03134196
Ankr is a protocol that provides a suite of tools for proof-of-stake blockchains. Primarily, it lets users create nodes and use staked assets (hang on, we’ll get there) across DeFi applications.
Allow us to explain: proof of stake blockchains are those in which users ‘stake’ — or offer up as collateral — tokens in order to validate transactions. The more tokens you’ve staked, the more new tokens you’ll receive in return.
While staking is easier on the environment than mining (à la Bitcoin), there are a couple of limitations to staking that Ankr addresses. First, you usually need to stake a lot of coins to become a validator — about $82,000 USD worth of ETH for Ethereum 2.0., for instance. With Ankr’s staking pools, you need as little as 0.5 ETH.
Second, while your tokens are staked, you usually can’t use them for anything else — it’s like locking up money in a certificate of deposit scheme. But stake ETH with Ankr and you’ll receive aETH — a token that represents that value of your staked ETH that you can stake elsewhere to generate returns from other DeFi protocols. This provides the opportunity, in theory at least, to double your income streams.
For developers, Ankr’s API streamlines the process of deploying decentralized applications (dApps) across different blockchains, no matter the blockchain on which the dApp was originally built. Using the Ankr API, developers can deploy their projects across blockchains. As of March 2022, Ankr supports Ethereum (and several L2 projects, like Arbitrum, Polygon and XDai), Polkadot, Fantom and Binance Smart Chain, among other blockchains.
Ankr’s eponymous token, also known as ANKR, powers this whole operation. Developers can pay 10,000 ANKR a year for Ankr Premium, which entitles their dApp to private access to the protocol. You can also use ANKR to deploy a node or query the API. ANKR is also a governance token, meaning you can use the token to vote on how the protocol should operate.
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 Ankr?
ANKR is a utility token used for governance and as a medium of exchange within the Ankr ecosystem.
ANKR is used to set up validator nodes. If you’re providing Ethereum 2.0. validation services through Ankr, and are inviting people to join your validator, you need to stake 2 ETH worth of ANKR tokens to the network. Any rewards are also paid out in ANKR.
If you want to query Ankr’s API to power your multi-chain dApp, you can pay in ANKR tokens. The basic plan is free, but premium plans start at $49. If you want to vote on upgrades and technical changes to the Ankr protocol, you need ANKR tokens. One ANKR token is equal to one vote on the platform, and the only limit to the number of ANKR tokens you can amass is placed upon you by the maximum supply of 10 billion ANKR tokens.
Of course, you can simply hold the token for speculative purposes, benefiting from the popularity of the network. If Ankr swells in popularity, developers and customers will need ANKR tokens to use the network. Because the total number of ANKR tokens does not increase over time, the demand for ANKR tokens will dictate the price.
Is Ankr a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Ankr 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 Ankr 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 Ankr 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 Ankr to your Wealthsimple account in just a few taps.
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Ready to get started?
Download the Wealthsimple Trade app, create your account, and start trading Ankr with just $1. It’s that simple.
Ankr is a blockchain protocol for proof-of-stake blockchains. For stakers, it has an easy, one-click solution that lets you pool tokens with other people in order to earn staking rewards – tokens issued by a proof-of-stake blockchain, such as Polygon, to those who lock up tokens within the network. Ankr also lets developers deploy their decentralized applications across multiple blockchains, bypassing issues of interoperability that had previously beleagured the industry.
As of March 14, 2022, ANKR as a circulating supply of 8.16 billion ANKR and a maximum supply of 10 billion. Ankr expects to distribute the remaining tokens by August 2022 through distribution programs, developer grants and by providing liquidity for future crypto exchange listings.
You can use Ankr tokens within the Ankr ecosystem, to pay for API requests or to launch a validator node on the network, or elsewhere within the broader world of decentralized finance. For instance, you could become a liquidity provider on Uniswap, or stake ANKR tokens within OnX and Bancor to earn rewards. You could also simply buy and hold ANKR tokens for speculative purposes in the hopes that the price of the token will rise over time.
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 Ankr transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
Ankr’s current market cap is 300,466,400.
The current price for Ankr in Canadian dollars is $0.03.
Buying Ankr 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 Ankr 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 Ankr. 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.