Buy The Graph in Canada

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 $3,359,321,498.00.

The current price for The Graph in Canadian dollars is $0.31.

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.