Buy Chiliz in Canada
Chiliz made simple
Everything you need to know about Chiliz and how to start investing in it.
-$0.00 (-1.44%) past 24 hours
- Market Cap
- Circulating Supply
- 24h low - high range
- 0.08143128 - 0.08828358
Chiliz is an Ethereum-based cryptocurrency token primed for sports and entertainment. It’s the native token from the parent company of Socios, a crypto platform for soccer teams that’s secured partnerships with 120 clubs and governing bodies, including FC Barcelona, Paris Saint Germain (PSG) and Arsenal. Socios is also the official fan token platform of UEFA.
These top soccer clubs have used the Socios platform to mint so-called club tokens. These are cryptocurrency tokens minted on the Ethereum blockchain via a permissioned sidechain called Chiliz Chain that allow holders to vote on how aspects of the club are run.
Votes tend to decide fairly minor changes. PSG, for instance, lets token holders vote on the message on the captain’s armbands — they chose “ICI C’EST PARIS” (“This is Paris”). Juventus F.C. fans picked “Song 2” by Blur as the song that would play each time the club scored a goal at the club’s home ground, Allianz Stadium.
While these changes are small, the point is that they provide fans with a sense of ownership over their favourite club. Fan tokens also reap other benefits: all token fan holders get VIP access at home league, cup and European fixtures, and clubs can specify additional benefits for their tokens. According to Socios, these include VIP meet and greet events, signed shirts and “the possibility to fly with the team to catch an away match.”
Chiliz is the glue that holds the Socios fan tokens together. You can’t use fiat currencies to buy these fan tokens; you can only buy these fan tokens with Chiliz (also known by its ticker, $CHZ). You can use a debit or credit card to buy CHZ tokens from within the Socios app. Alternatively, you can buy them from a cryptocurrency platform. Socios also has a separate in-app loyalty token called SSU, short for Socios United Fan Token, although you can’t buy this token on crypto platforms.
In March 2022, an investigation by Off The Pitch alleged that the founder of Socios, Alexandre Dreyfus, withheld payment to key advisors to prop up the value of the Chiliz token. Clubs are looking into the allegations. Chiliz said the allegations were “based on erroneous data” and that the supply of CHZ is so large that withholding payments to advisors “would not be responsible for driving any movement in price.”
It should be noted that although Socios is Chiliz’s main project, the company plans to invest $60 million on projects outside of Socios. Indeed, Chiliz is building a new version of its ecosystem on Chiliz Chain 2.0 (CC2).
This chain, set to be built through a partnership with Ankr, will be based on the Binance Smart Chain. BSC is faster and cheaper than Ethereum, but less decentralized. The testnet of the new chain — a test version of the blockchain that runs with test crypto, and precedes the official “mainnet” launch — is slated to go live in the first quarter of 2022. It will also support staking for the CHZ token.
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 Chiliz?
Right now, there are three obvious things to do with Chiliz (CHZ), the cryptocurrency token that acts as the backbone of the Socios fan token ecosystem.
The first thing to do is to use it to buy fan tokens from major soccer clubs. Fan tokens let you vote on minor decisions for big soccer teams, and could entitle you to extra rewards and VIP experiences. Fan tokens are based on a sidechain attached to the Ethereum blockchain, and each have their own volatile markets.
Second, you could buy Chiliz (CHZ) and hold it as a speculative asset. Right now, the worth of Chiliz (CHZ) is tied to the value of the Socios ecosystem and the fan tokens based on the platform.
The third thing to do with CHZ is to plug it into decentralized finance protocols. CHZ is available as an Ethereum ERC-20 token and a Binance Smart Chain BEP-20 token, meaning that it is compatible with many Ethereum and BSC DeFi protocols.
You could, for instance, become a liquidity provider for Chiliz (CHZ) on Uniswap, Ethereum’s most popular DeFi platform, facilitating token swaps for anyone who wants to buy the token. Following the launch of Chiliz Chain 2.0, you’ll be able to stake the token within the Chiliz ecosystem to earn extra CHZ rewards.
Is Chiliz a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Chiliz 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 Chiliz 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 Chiliz 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 Chiliz 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 Chiliz with just $1. It’s that simple.
CHZ is the native currency of the Chiliz crypto ecosystem, and serves as the backbone of its premier product: the Socios fan token market. With CHZ, you can buy tokens issued by some of the world’s largest soccer clubs. You can use these fan tokens to vote on minor changes to the club, like which a celebration song or a message that appears on a player’s shirt. It’s an ERC-20 (Ethereum) token, and is also available as a BEP-20 (Binance Smart Chain) and TRC-20 (TRON) token.
As of March 2022, there are 5.9 billion CHZ tokens in circulation out of a maximum supply of 8.8 billion. At a price of $0.19 per token, that amounts to a market cap of $1.15 billion. The CHZ token is distributed to different stakeholders in varying amounts. During its October 2018 launch, 34.5% of CHZ’s supply was sold in a token sale, 20% was reserved by its userbase, 15% went to business development, 15% was set aside for marketing, 5% went to the team, 7% to early investors and 3% to an advisory board.
You can spend Chiliz (CHZ) tokens on the Socios app to buy fan tokens from top soccer clubs, such as Arsenal and Paris Saint Germain. You can also buy and sell Chiliz (CHZ) on crypto exchanges, like Binance (although not if you’re in Ontario), or on brokerages like Wealthsimple Crypto. If you hold your CHZ in a Web3 wallet on Binance Smart Chain, Ethereum or Solana (through a multi-chain token bridge called Wormhole), you can pledge your CHZ within decentralized finance protocols to earn returns.
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 Chiliz transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
Chiliz’s current market cap is 745,397,635.
The current price for Chiliz in Canadian dollars is $0.08.
Buying Chiliz 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 Chiliz 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 Chiliz. 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.