Buy Storj in Canada
Storj made simple
Everything you need to know about Storj and how to start investing in it.
-$0.04 (-5.65%) past 24 hours
- Market Cap
- 24h low - high range
- 0.6333908 - 0.6934944
STORJ is the native token of a decentralized cloud storage network by the same name. Kind of like a decentralized version of Amazon Web Services, it cuts up encrypted versions of files and stores them on anonymous people’s computers all over the world.
Those that rent out their hard drives earn STORJ tokens in return. Payouts vary, but Storj estimates earnings of $1.5 per terabyte of disk space. As of May 2022, the market capitalization for the STORJ token is far smaller than its main competitor, Filecoin.
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 Storj?
Within the Storj network, you can use STORJ to buy storage space or earn it by renting out your own, or performing validation services.
Of course, since STORJ is a volatile cryptocurrency, you could invest in it to speculate on its price, or plug it into decentralized finance protocols that pay out yields. Just remember that many of these protocols are risky.
Is Storj a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Storj 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 Storj 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 Storj 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 Storj to your Wealthsimple account in just a few taps.
Other cryptos to explore
More info about Storj
Want to take a deeper dive? Check out these articles about Storj 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 Storj 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 Storj transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
Storj’s current market cap is 279,055,429.
The current price for Storj in Canadian dollars is $0.62.
Buying Storj 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 Storj 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 Storj. 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.